Indo-Lanka SMZs soon at Trincomalee

India and Sri Lanka have decided to set up Special Manufacturing Zones in Sri Lanka for Indian engineering, auto components and pharmaceutical companies. This was announced by visiting Indian Commerce Minister Anand Sharma here on Friday.

The engineering and auto components manufacturing zone, to be located in Trincomalee district in Eastern Sri Lanka, would primarily cater to the engineering and automobile factories in Chennai and other parts of South India, Sharma said.

The decision to set up the facilities was taken at a meeting between Sharma and Sri Lankan Minister of Economic Development, Basil Rajapaksa, ahead of the India-Lanka CEOs’ conference and the “India Show”.

An Indo-Lankan Task Force would be established to work out the details of the zone for the engineering and auto component manufacturers. The Task Force would be required to submit its report within 90 days. The zone would house a Skills Training Institute to prepare Lankan  youth for work in the engineering and auto components industries.

Pharma Zone

A top-level delegation of Indian pharmaceutical manufacturers will be visiting Sri Lanka soon to discuss the possibility of setting up manufacturing units here, Sharma said. 

Commerce Secys to Talk on CEPA

Sharma made a strong push for a Comprehensive Economic Partnership Agreement (CEPA) between India and Sri Lanka.