Georgian business delegation explores enhanced trade links with Sri Lanka’s agriculture sector
Daily FT: A Georgian business delegation paid a visit to the Sri Lanka Export Development Board (EDB) recently, to enhance trading opportunities with the Sri Lankan agricultural sector.
EDB Chairman and CEO Dr. Kingsley Bernard welcomed the delegation and extended his appreciation for visiting Sri Lanka to bolster commercial and business ties between the two countries.
Georgia is Sri Lanka’s 91st export destination and in 2022, Sri Lanka’s exports value to Georgia was $ 5.02 million, representing a 22.45% increase compared to 2021, reflecting the growing potential for Sri Lankan products in the Georgian market.
The Embassy of Sri Lanka in Turkey which is accredited to Georgia organized the visit of the Georgia delegation to Sri Lanka demonstrating their untiring efforts to boost commercial relations between the two countries. Sri Lankan Embassy in Turkey Minister (Commercial) Thavishya Mullegamgoda together with the EDB, coordinated the meeting for the Sri Lankan private sector companies.
The focus of the discussions was on Sri Lankan agricultural products, particularly fruits, vegetables, cinnamon, spices, vanilla, and coconut-based items. Accordingly, Georgian delegation met representatives from Adamjee Lukmanjee and Sons Ltd., Eastern Allied Ltd., Earth Scape Ltd., Agriceylon Ltd., Raudo Foods Ltd., Silver Mill Group, and Nelna Agri Development Ltd., made presentations showcasing their products and offerings.
The Georgian delegates expressed strong interest in the products offered by Sri Lankan exporters and encouraged direct communication for future business opportunities.
OSL take:
The ongoing economic activities in Sri Lanka, especially in the manufacturing and export sectors have attracted many foreign businesses/investors to explore opportunities in Sri Lanka. The country’s geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by Sri Lanka have also helped boost Sri Lanka’s trade opportunities. There has been a focus among local authorities to engage in promotional campaigns in new foreign markets with Sri Lankan missions overseas also engaging in promoting trade and investments in Sri Lanka. Given the expanding business, trade and investment opportunities in Sri Lanka, foreign businesses/investors could explore the opportunities. Foreign businesses could look at forming partnerships or joint ventures with local businesses or vice versa with the aim of further expansion.
| Article Code : | VBS/AT/20231101/Z_4 |