International Minister underscores significance of financial partnership with Indonesia

Ambassador of Indonesia in Colombo I. Gusti Ngurah Ardiyasa paid a courtesy name on International Minister Dinesh Gunawardena on the International Ministry on 17 December 2020.  Through the discussions, the 2 dignitaries emphasised the necessity to additional improve commerce ties in a mutually useful method.

Whereas reiterating the long-standing, multifaceted ties between the 2 nations, Minister Gunawardena appreciated the sturdy friendship and help rendered by Indonesia through the tough instances confronted by Sri Lanka previously.

The Ambassador acknowledged the bonds of friendship and cooperation that exist between the 2 nations at bilateral, regional and multilateral platforms and expressed hope that the present ties would additional broaden and deepen into sectors of latest significance.

He underscored the necessity for enhanced cooperation within the areas of illicit trafficking, cooperation towards trafficking in narcotic medicine, psychotropic substances and marie and fisheries cooperation and on voluntary worldwide cooperation to current unlawful, unregulated and unreported (IUU) fishing which promotes sustainable fisheries governance.

Ambassador Ardiyasa expressed his gratitude in direction of the Authorities of Sri Lanka for the help rendered in direction of the repatriation of Indonesian nationals within the latest previous, through the peak of the outbreak of the COVID-19 pandemic.

Sri Lanka and Indonesia have been lengthy standing buying and selling companions. The whole commerce turnover between Sri Lanka and Indonesia has been rising since 2017.  In 2019, the worth of Sri Lanka’s exports to Indonesia elevated by 9.54% on yr on yr foundation. The worth of imports which account 427.55 US$ Mn in 2018 elevated marginally to 428.27 US$ Mn in 2019. Indonesia was the forty fifth export marketplace for Sri Lanka with a share of 0.33% in 2019. Attire was the dominant export merchandise from Sri Lanka to Indonesia, which accounts 19.56% of complete exports to Indonesia in 2019. Indonesia was the ninth import accomplice of Sri Lanka with a share of two.2% in 2019.

Cement was the most important import merchandise from Indonesia to Sri Lanka which accounts for 11.05% of complete imports from Indonesia in 2019.  By way of the rising demand sample in Indonesia and contemplating the sustainable provide capacities of Sri Lanka, merchandise comparable to cinnamon, cloves, black tea, tea, rubber tyres will be additional expanded in Indonesia.

Sri Lanka has signed a Bilateral Funding Treaty with Indonesia on 10 June 1996 and it entered into drive on 21 July 1997. Sri Lanka signed a double taxation avoidance settlement with Indonesia on 03 February 1993 and it was carried out in Sri Lanka from 1995/1996. Indonesia ranked because the thirty fourth funding accomplice of Sri Lanka in 2019.

The Ambassador was accompanied by the First Secretary of the Embassy of Indonesia. The Assembly was attended by officers of the Southeast Asia Division of the International Ministry.

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