INSUBCONTINENT EXCLUSIVE:
Sri Lankan High Commissioner Milinda Moragoda on Tuesday met with Indian Minister of Commerce and Industry Shri Piyush Goyal and Finance
trade and use of the rupee for trade settlement.India provided economic assistance worth almost $4 billion, including a currency swap and
also took the lead in providing guarantees to the International Monetary Fund (IMF) to help Colombo access a $2.9 billion bailout
recovery, the Sri Lankan high commission said in a statement.In this context, the two sides looked at ways to establish and promote rupee
trade as a means of economic recovery in Sri Lanka, mechanisms for expanding bilateral trade, and the possibility of bilateral integration
in the textiles and garment sector, the statement said.In his meeting with Sitharaman, Moragoda thanked India for the aid being provided to
Sri Lanka, particularly the regulations and approvals being put in place to facilitate rupee trade between the two countries
The discussions also focused on ways to utilise available resources in the $1 billion Indian line of credit to import urgently required
ministers, scheduled to be chaired by Sitharaman in Bengaluru during February 24-25.#13;
Source: Hindustan Times#13;
-Agencies
