Trade with Qatar jumps by 18%!

Sri Lanka’s exports surge to world’s highest per capita economy

• Bilateral trade with Qatar jumps by 18% to $78 Mn
• ‘Calling for bigger trade, new investments’-Rishad
• Sri Lanka’s exports to Qatar peaks in 2014!

 As YoY bilateral trade surged and Sri Lanka’s exports to the world’s largest per capita economy hit a new high, both Qatar and Sri Lanka jointly stressed the need to boost trade further on 08 November.

The importance of pushing bilateral trade to new levels was jointly stressed when Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) made a courtesy call on Mohamed bin Abdullah Al Rumaihi (the Assistant Minister for Qatari Foreign Affairs) at Qatar Foreign Ministry, Doha on 08 November.

According to the World Bank. In 2014 oil and gas rich Qatar was world’s highest per capita GDP economy with a per capita of $97,518-standing even above Norway!

During the discussions, both Ministers agreed that despite bilateral trade surge by 18% to $78 Mn in 2014 and Sri Lanka’s exports to Qatar recording the highest levels last year, there are yet unrealised trade potentials between both countries and it is time to broaden trade to next levels. Minister Bathiudeen also welcomed investors from Qatar to Sri Lanka on 08 November.

According to the Department of Commerce of Sri Lanka, Sri Lanka’s exports to Qatar recorded the highest level of $14.39 Mn in 2014. YoY bilateral trade between the two countries that stood at $66 Mn in 2013 surged by 18% to $78 Mn in 2014. Bananas and plantains was the main export to Qatar from Sri Lanka, claiming 31% of the total exports to Qatar in 2014.