Plans to make Sri Lanka hub for vehicle assembling

May, 22, 2014

The government aims to make Sri Lanka a centre for manufacturing and assembling of vehicles with 30 percent value addition locally before being exported through free trade agreements, said Deputy Finance Minister Dr. Sarath Amunugama.

The Minister stated this in response to a question raised in parliament yesterday (21 May) by United National Party (UNP) parliamentarian Buddhika Pathirana.

Minister Amunugama added that Micro Motors has already established a vehicle assembly plant at Polgahawela and that the government encourages the manufacture and assembly of vehicles locally.

There is already a free trade agreement between India and Sri Lanka and move are afoot to sign a free trade agreement between Sri Lanka and China.