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Thursday, 02 August 2012 - 12:59
IMF advises to resort to India & China
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The International Monetary Fund has urged Sri Lanka to woo Asian markets to boost its declining export earnings to support the economic growth.

Koshy Mathai, the IMF resident representative for Sri Lanka and Maldives has advised Sri Lanka to focus on enhancing trade with India and China to take advantage of those growing Asian economies and to diversify against shocks coming from economic slowdowns in other parts of the world.

Despite having a successful free trade agreement with India since 1998 Sri Lanka's total exports in 2011 to India accounted for just 4.9 percent while exports to China accounted for only around 1 percent.

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