“Country seminar on Sri Lanka” hosted in Luxembourg
Newswire: The Sri Lanka Embassy in Belgium, which is also accredited to Luxembourg, hosted a “Country Seminar on Sri Lanka” in collaboration with the Luxembourg Chamber of Commerce, highlighting the growing opportunities for two-way trade and investment.
According to the Embassy of Sri Lanka in Brussels, the event held at the premises of the Luxembourg Chamber of Commerce in October marked another milestone in fostering economic, commercial, and bilateral cooperation between the two countries.
In welcome remarks, International Affairs Lead at the Luxembourg Chamber of Commerce, Sabrina Aksil, emphasized the strong complementarity between Luxembourg’s globally recognized expertise in finance, ICT, consulting, and logistics, and Sri Lanka’s dynamic efforts to diversify and expand its economy.
Ambassador of Sri Lanka to Luxembourg, Chandana Weerasena, highlighted Sri Lanka’s current economic developments and its forward-looking economic vision, underscoring how enhanced two-way trade and investment could create mutual benefits for both countries.
Newly nominated Luxembourg Ambassador for Sri Lanka, Christian Biever, shared his perspectives on potential areas of collaboration and expressed his keen interest in strengthening bilateral economic ties of the two countries.
Chairman of the Board of Investment (BOI) of Sri Lanka, Arjuna Herath and the Executive Director (Investment Promotion & Research), Priyanka Samaraweera joined the seminar online and presented Sri Lanka’s current investment climate, reasons for selecting Sri Lanka as a promised destination for investments and emerging investment opportunities in Sri Lanka in manufacturing, services, infrastructure and agriculture sectors to drive FDIs.
Minister (Commercial) of the Sri Lanka Embassy, Thavishya Mullegamgoda, presented trade & export potential in Sri Lanka, highlighting sectors poised for mutually beneficial partnerships between the two countries, including sectors like finance, ICT services, logistics, high-tech manufacturing, R&D, and innovation. She also highlighted some challenges faced by the export sector in Sri Lanka, inviting companies in Luxembourg to explore those challenges as opportunities to create win-win situations for both sides in the future.
This event underscored the shared vision of both countries to further deepen bilateral engagement and promote sustainable, innovative, and inclusive economic and commercial collaborations between Sri Lanka and Luxembourg in the years ahead.
OSL take:
Amidst Sri Lanka’s ongoing economic activities and overall economic expansion, Sri Lankan authorities are working on attracting more foreign investments to the country. The expansion in Sri Lanka’s key economic sectors has created many business/investment opportunities as well. The country is also looking at further strengthening and expanding its existing trade ties with foreign countries by working on reaching more trade agreements to include new foreign markets. Given that Sri Lanka is on the path to becoming a hub in the South Asian region supported by the country’s geographical positioning in the Indian Ocean, strong trade ties and a business conducive environment, opportunities presented could be a revolving business venture with guaranteed returns. Also, with the strong trade ties covering many key foreign markets, Sri Lanka presents the best destination in the region to set up bases to engage with other countries in the region, especially given Sri Lanka’s strong trade ties with India, Pakistan and Bangladesh, which is unique to Sri Lanka. Foreign businesses/investors, especially Belgian businesses/investors could look at engaging in Sri Lanka through partnerships or joint ventures with local businesses.
| Article Code : | VBS/AT/20251118/Z_2 |