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Iran, Sri Lanka strengthen trade ties

Sri Lanka and Iran are finalising plans to expand trade ties between the two countries. Currently there is about $120 million worth of annual trade between the two countries, but the Iranian Foreign Minister expressed hopes that it would reach $400 million.



The announcement came during a visit to Iran by a Sri Lankan delegation, seeing to promote industrial and commercial ties.


Commenting on the ‘already existing favorable ties’ between the two countries, the Iranian Foreign Minister noted that Islamic Republic is ready to expand relations with Sri Lanka in the industrial area, construction of cement factory, machine manufacturing and building construction, IRNA reported.


Ties between Sri Lanka and Iran are ‘very good’ Iran’s Commerce Minister Mahdi Ghazanfari was quoted as saying, adding that the Sri Lankan government has backed Iran in international circles.

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