The China National Machinery Import and Export Corp. plans to export 100 locomotives to Sri Lanka, according to a Sino-Sri Lankan Trade, Investment and Tourism Seminar held on Wednesday.

The railway department of Sri Lanka and the China National Machinery Import and Export Corp. will soon sign the agreement to finalize the exchange, said an official with the China Council for the Promotion of International Trade (CCPIT) at the seminar.

During the seminar, held by CCPIT, over 200 delegates from the business circles of China and Sri Lanka exchanged views on cooperation in the areas of food, tourism, electronic appliances, machinery and clothing.

Figures from Chinese customs show that in 2004, bilateral trade between the two countries reached 715 million US dollars.

In the first seven months this year, bilateral trade hit 518 million US dollars.

According to figures provided by Sri Lanka, China's investment in Sri Lanka is now about 30 million US dollars, accounting for only 1 percent of the total foreign investment in Sri Lanka.

The investment cooperation between the two countries enjoys great potential, said Sri Lanka officials at the seminar, encouraging more Chinese entrepreneurs to invest in Sri Lanka.

Source: Xinhua