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Lankan envoy holds talks with Thai Chamber of Commerce and Board of Trade of Thailand

Lankan envoy holds talks with Thai Chamber of Commerce and Board of Trade of Thailand

Daily FT: Ambassador of Sri Lanka to Thailand Wijayanthi Edirisinghe held a productive discussion with the Chairman of the Thai Chamber of Commerce and Board of Trade of Thailand Sanan Angubolkul, on 1 October.
The discussion focused on enhancing the long-standing relationship between Sri Lanka and Thailand, particularly in the areas of trade, investment and tourism.
During the meeting, Ambassador Edirisinghe highlighted the existing strong bilateral relationships and emphasized the importance of the Sri Lanka-Thailand Free Trade Agreement, set to take effect from 1 January 2025, as a key initiative to further strengthen economic cooperation. She invited Chairman Angubolkul to lead an investment delegation to Sri Lanka to explore the abundant opportunities available in the country.
In response, the Chairman expressed Thailand’s keen interest in Sri Lanka’s growing economic potential and confirmed that the Thai Chamber of Commerce and Board of Trade of Thailand would arrange a high-level delegation visit to Sri Lanka in early 2025. He recalled the previous visit of the Thai delegation led by him to Sri Lanka in June 2024 to participate in the International Industry Expo-2024, and also the MoU signed with the Ceylon Chamber of Commerce, which provided valuable insights into trade, investment and tourism prospects in the two countries.
Moreover, Ambassador Edirisinghe underscored the upcoming visit of the business delegation of the Ceylon Chamber of Commerce to Bangkok, in October 2024. She requested the continuous assistance of the Thai Chamber of Commerce and Board of Trade of Thailand in facilitating the visit of the delegation and pointed out the importance of collaboration in furthering mutual trade and investment.
The meeting explored prospective opportunities for both countries that can be advanced through bilateral partnerships, as both nations work towards fostering greater economic cooperation and mutual prosperity.

OSL take:
Sri Lanka and Thailand enjoy strong bilateral and trade ties that have been further strengthened by a free trade agreement (FTA). Sri Lankan authorities are also looking at ways to make the Sri Lanka-Thai FTA reach its full potential. With Sri Lanka’s economy on an expansion path with increased economic activities covering all key economic sectors, there’s an emergence of new business/investment opportunities for foreign businesses/investors. Sri Lanka’s geographical positioning in the Indian Ocean, the many trade agreements as well as trade concessions enjoyed with other countries and the target of becoming a regional hub have added to the country’s increasing attraction as an emerging business destination. Foreign businesses/investors could therefore confidently explore the increasing opportunities in Sri Lanka that present lucrative business/investment prospects. Given all these developments, Thai businesses/investors could explore the growing opportunities in Sri Lanka while looking at forming joint ventures or partnerships with local businesses with the aim of expanding operations.

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Article Code : VBS/AT/20241015/Z_3

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