Raw Materials Need
Sri Lanka and the Arab states of the Persian Gulf (GCC) enjoy strong economic and military ties. This is reflected in the fact that more than 90% of the oil consumed by Sri Lanka comes from the Persian Gulf countries and Sri Lankan nationals form one of the largest expatriate communities in the Arabian Peninsula. Sri Lanka is one of the largest trading partners of the GCC. The Gulf countries have also played an important role in addressing Sri Lanka's energy security concerns with Saudi Arabia and United Arab Emirates regularly increasing their oil supply to Sri Lanka to meet the country's rising energy demand. In 2008, United Arab Emirates decided to invest in Sri Lanka's energy sector.
Read more about this topic: Foreign Relations Of Sri Lanka
Famous quotes containing the words raw and/or materials:
“Knowledge in the form of an informational commodity indispensable to productive power is already, and will continue to be, a major—perhaps the major—stake in the worldwide competition for power. It is conceivable that the nation-states will one day fight for control of information, just as they battled in the past for control over territory, and afterwards for control over access to and exploitation of raw materials and cheap labor.”
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