USE MALAYSIA AS SPRINGBOARD TO ASEAN, ENVOY TELLS SRI LANKA

By P.Vijian

NEW DELHI, Sept 6 (Bernama) -- Sri Lanka with its trade proximity to
Malaysia, can use the country as a springboard to enter the burgeoning Asean
market, home to over half a billion consumers.

The view was expressed by Malaysia's High Commissioner to Sri Lanka,
Rosli Ismail.

He also said that Malaysia's strategic location in the heart of Asean
provides vast opportunities for Sri Lankan businesses to venture into
Southeast Asian markets.

"The Sri Lanka business community should take advantage of the opportunities
that exist in the Asean region and use Malaysia as a springboard to penetrate
the Asean market and enhance business linkages," he highlighted.

"Through the Asean Free Trade Area (AFTA), which has access to over 500
million people and a market worth over US$900 million (RM3.2 billion), Malaysia
offers a unique platform for Sri Lankan companies," added the envoy.

The island nation is Malaysia's close trading partner with two-way trade
at a record level of RM1.54 billion (US$459 million) in 2008 but which dipped to
RM1.36 billion (US$437.1 million) last year.

Malaysian exports to Sri Lanka were nearly RM1.21 billion (US$388.9 million)
in 2009 while the island's exports to Malaysia stood at RM154 million (US$49.5
million).

Malaysia continues to be a key investor in Sri Lanka's economy, with
investments largely in the telecommunication, infrastructure and manufacturing
sectors.

Rosli further said that enhanced trade prospects exist in post-war Sri Lanka
as the government is channelling more economic development projects to the
country's under-developed eastern and northern provinces.

"With the defeat of terrorism, there will be greater opportunity for trade
and investment between our two countries.

"Malaysia is ready to share its knowledge and experience with Sri Lanka in
areas where it has the expertise," he added.

--BERNAMA