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Embassy in Brussels promotes Sri Lanka as gateway to businesses

Embassy in Brussels promotes Sri Lanka as gateway to businesses

Daily FT: The Embassy of Sri Lanka in Brussels presented Sri Lanka’s notable economic recovery and emerging opportunities in trade, investment, and tourism sectors to over 35 prominent representatives from the Belgian private sector, on 5 December in the Antwerp Region in Belgium.
Embassy of Sri Lanka in Brussels Minister (Commercial) Thavishya Mullegamgoda in her presentation reasoned out ‘Why Sri Lanka is a Vital Island’ for foreign partners. She presented strengths and opportunities in Sri Lanka’s trade, investment, and tourism spheres, while highlighting potential areas for mutual collaborations with the Belgian private sector. She emphasised the importance of the strategic location of Sri Lanka in the Indian Ocean, and Antwerp in the Western Europe, and invited Antwerp’s business community to explore Sri Lanka as a destination for expanding economic engagements.
In her remarks, Honorary Consul of Sri Lanka in Antwerp, Monique De Decker-Deprez highlighted Sri Lanka’s potential in various sectors that might be interesting to Belgian companies to explore. She elaborated her own recent experiences in Sri Lanka including her factory visits to a few Belgian companies that have invested in Sri Lanka.
The event drew participation from several notable institutions in the Flemish Region of Belgium, including the Port of Antwerp-Bruges, the City of Antwerp, Flanders Investment and Trade, Voka Chamber of Commerce in Antwerp. Entrepreneurs representing a cross- section of industries including diamond, tea, apparel, tourism, cigars, logistics, as well as business consultancy, lifestyle projects, renewable energy, and import-export services joined the event, alongside Belgian journalists and other stakeholders.
Antwerp, renowned as one of the world’s most significant seaports, is a hub of the global diamond trade and one of the most important commercial cities in Belgium. Following the success of the event, the Embassy of Sri Lanka in Brussels aims to organise more sector-specific business promotional events in Antwerp and the Flanders Region in future.

OSL take:
Sri Lanka’s ongoing economic activities and the overall economic expansion soon after facing an economic crisis two years ago have shown the world that the country’s economy is strong and resilient. The strength, growth and resilience of Sri Lanka’s economy and the country’s private sector have helped boost the confidence of foreign businesses/investors in Sri Lanka. Meanwhile, Sri Lanka’s geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by the country with many foreign countries have boosted Sri Lanka’s image as an emerging business destination in the South Asian region. It is evident that Sri Lanka is therefore moving in the right direction to becoming a hub in the South Asian region. The expansion in the business/investment opportunities in Sri Lanka in-line with the overall economic expansion presents many lucrative opportunities to foreign businesses/investors. The increasing business potential is evident by the interest shown by many foreign businesses/investors to enter key economic sectors in Sri Lanka while countries like India and China have pegged great importance to Sri Lankan ties in the fields of trade, investment and tourism. Other foreign businesses/investors could also look at the expanding business/investment opportunities in Sri Lanka while looking at setting up bases in the country to engage with other foreign countries using the preferential treatment enjoyed by Sri Lanka with many foreign countries.

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Article Code : VBS/AT/20241218/Z_3

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