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* Sri Lanka expanding diplomatic relations with Switzerland to enhance bilateral trade
Sat, Jan 25, 2014, 11:26 pm SL Time, ColomboPage News Desk, Sri Lanka.

Jan 25, Colombo: The Sri Lankan government is taking measures to expand diplomatic relations with Switzerland which is a leading industrial nation and a gateway to the European market.

The government aiming to enhance exports to European market plans to establish a residential diplomatic mission in Berne, the state media said.

The Cabinet has reportedly granted approval to formulate the diplomatic corp for the mission from the 1st of next month.

The two countries established formal diplomatic relations in 1956 and Sri Lanka's Ambassador resident in Berlin, Germany is accredited to Switzerland while there is a Consulate General in Geneva.

The new initiatives are expected to pave the way to enhance Sri Lanka's exports. According to the Department of Commerce, bilateral trade between Sri Lanka and Switzerland exceeded US$ 325million in 2012 while Sri Lanka's exports recorded the highest level of US$ 91.75 million.

Moreover, Sri Lanka received US$14.46 million Foreign Direct Investment (FDI) from Switzerland in 2012.

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