Colombo, Nov 30 (PTI) Faced with a slump in tea exports on account of the global slowdown, Sri Lanka is depending on countries like Russia and Iran to bail out the tea industry next year.

"The tea industry crisis is not a result of the internal problems of Sri Lanka. Russia and Iran will be coming to the Sri Lankan market in January and then the problem will be solved," a senior Sri Lankan Minister W D J Seneviratne told Parliament.

With tea prices for the Sri Lankan growers likely to decline from the record SLRs 10 per kg of tea leaves (received from the tea industry) due to the recession, the planters are worried over the impact on tea exports.

The global slowdown could affect Sri Lanka's ambitious target of achieving two billion dollars tea exports by 2010. The tea industry generated an income of one billion dollar income in 2008.

The tea sector provides direct and indirect employment to around 1.5 million people in Sri Lanka and this translates into family income support for 5 million dependants, roughly a quarter of Sri Lanka's population.

Early this month, the Sri Lankan foreign minister Rohitha Bogollagama held discussions with the head of the missions and envoys of Egypt, Iran, Russia, Saudi Arabia, Iraq, Kuwait and Qatar urging these nations to buy enough of Lankan tea.

"The Government of Sri Lanka is seeking the support of friendly countries who are principal buyers of Ceylon tea, to remain active in the tea market, in order to promote tea exports from Sri Lanka and to maintain price stability, foreign minister Rohitha Bogollagama told the diplomats.

The Minister said that he was aware that in most of the major markets for Ceylon tea, it is the private sector that plays the dominant role in determining prices, which are influenced by the market forces of demand and supply.

However, he observed that governments could still play a complementary role in facilitating the activities of the private tea companies in the market to ensure a sustained demand for Sri Lankan tea.