EDB to strengthen economic cooperation between Sri Lanka, India, Japan
Daily FT: The Sri Lanka Export Development Board (EDB) recently hosted a productive meeting with Japan’s Ministry of Economy, Trade, and Industry (METI) South Asia Regional Representative Toyokazu Nagamune to explore the potential for establishing a regional economic cluster aimed at facilitating the export of manufactured goods to Japan and other regions. This initiative seeks to enhance economic cooperation between Sri Lanka, India, and Japan.
During the discussions, Nagamune highlighted opportunities for strengthened collaboration in trade and investment, emphasising Sri Lanka’s strategic position and industrial capabilities. The meeting focused on identifying key sectors for export promotion and exploring strategies to enhance regional supply chains, thereby improving market access for Sri Lankan products.
EDB Chairman/Chief Executive Officer Mangala Wijesinghe underscored Sri Lanka’s potential as a strategic hub for trade and investment. He outlined the country’s capabilities, investment opportunities, and its advantageous geographical location as a key player in the global market.
The discussions reinforced the importance of fostering stronger trade partnerships and advancing export-oriented industrial growth through regional cooperation. Both parties expressed their commitment to further engagement in developing trade and investment opportunities between Sri Lanka and Japan.
The meeting was attended by JETRO Colombo Resident Representative Hiroki Oi and Senior Research Executive Lakna Wasalage along with Additional Director General – Development Anoma Premathilake along with other EDB officials.
OSL take:
Sri Lanka is currently in the process of further strengthening and expanding its ties with foreign countries in several spheres with trade and economic cooperation taking centre stage. Local authorities like the EDB and the Board of Investment (BOI) have been engaged in many discussions and promotional programmes to further expand Sri Lanka’s economic cooperation work. The positive response from many foreign countries to further strengthen bilateral, business and trade ties indicates the increasing confidence in Sri Lanka’s economy. Sri Lanka’s geographical positioning in the Indian Ocean, the many trade agreements as well as trade concessions enjoyed with many foreign countries and the business conducive environment have all helped the country become an emerging business destination in the South Asian region. All these developments have in-turn expanded the business/investment opportunities in all key economic sectors in the country. Given the growing business and trade ties between Sri Lanka and many foreign countries as well as the emerging regional hub status, foreign businesses/investors could explore the expanding business/investment opportunities in Sri Lanka. They could also look at expanding operations locally and internationally through partnerships or joint ventures with local businesses.
| Article Code : | VBS/AT/20250408/Z_4 |