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Sri Lanka and India sign MoU for footwear industries

14/02/2012
Sri Lanka and India have signed a Memorandum of Understanding (Mou) for cooperation in their footwear industries during the 4th International Footwear and Leather Fair 2012 at the BMICH in Colombo (10-12 February, 2012).



In the presence of India's high commissioner in Colombo, Ashok K. Kantha, the general secretary of the Indian Footwear Components Manufacturers Association (IFCOMA), Pradeep Aggarwal and the chairman of the Sri Lanka Footwear Council, Ranjith Hettiarachchi, signed the MoU for cooperation between the two countries.



The MoU will include sharing news of developments taking place in both countries, encouraging strategic alliances and exploring possibilities to develop business linkages. Representing India and showcasing its products, 25 exhibitors from IFCOMA are participating in the 4th Footwear and Leather Fair, which was organised by the Sri Lanka Export Development Board.



India's is the largest foreign participation in the fair and the special IFCOMA pavilion showcased various components and products used in manufacture of footwear.



Trade and investment cooperation between Sri Lanka and India has been improving consistently. In 2011, the bilateral trade crossed $4.85 billion which was about 16% of Sri Lanka's global trade.




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