Sri Lanka has approved a new international cooperation project aimed at strengthening the country’s sugarcane sector through technical collaboration with Brazil, one of the world’s leading sugar producers.
The project will be implemented jointly by the Ministry of Industry and Entrepreneurship Development, the Sugarcane Research Institute and the National Science Foundation together with the Brazilian Cooperation Agency and the Federal University of São Carlos.
Authorities said the initiative was developed in response to weaknesses and challenges currently affecting Sri Lanka’s domestic sugarcane industry, with the aim of obtaining international technical expertise to improve the sector.
Sri Lanka currently imports nearly 90% of its sugar requirement, resulting in a significant outflow of foreign exchange.
The project is expected to help increase local sugarcane yields and sugar production while improving the technical capacity of stakeholders through training and knowledge exchange programs. It also aims to promote value addition, encourage the efficient use of by-products and strengthen institutional capacity within the sugar production sector.
Officials said Brazil’s expertise and experience as a global leader in sugarcane production would be used to support the development of Sri Lanka’s sugar industry.
Cabinet approval has been granted for the proposed project to be implemented over a 36-month period under the framework of the technical cooperation agreement signed between Sri Lanka and Brazil in 2008. (Newswire)