An agreement of economic cooperation signed with Sri Lanka

In 2006 Israel's exports to Sri Lanka grew by 33.5% and Israel's imports grew by 34%. Sri Lanka's main imports from Israel are diamonds
 
Prof. G. L. Peiris, Sri Lankan Minister of Export Development and International Trade, visited Israel last week as the guest of Minister of Industry, Trade, and Labor Eli Yishai.
 
The two signed an agreement of economic cooperation between the two countries.
In 2006 Israel's exports to Sri Lanka grew by 33.5% and Israel's imports grew by 34%.
 
Sri Lanka's main export items to Israel are diamonds – US$19m., 47% of total exports, ready-made garments, tea, woven fabrics and rubber gloves. There are prospects to promote export of other products such as footwear, coconut products, rubber tyres, gems and jewellery, spices, fruits and vegetables and plastic articles in the Israel market.
 
Sri Lanka's main imports from Israel are diamonds (in 2006 diamond exports totaled US$18m, 52% of the total exports), machinery parts and accessories, electrical apparatus for telephone lines, automatic data processing machines, US$11m and units and polymers of ethylene.
 
There are possibilities to promote Israeli investment and joint ventures in Sri Lanka in the area of manufacture of gems and jewellery, electrical and electronic items, pharmaceutical products, agricultural machinery, plastic and leather products, iron andsteel products, garments, automobile and heavy machinery industries.