National Chamber successfully concludes B2B event with South Indian biz delegation.
Daily FT: The National Chamber of Commerce of Sri Lanka in association with the Dhronacharya International Business Council India, conducted a B2B session for the corporate/business community to explore trade and investment opportunities in Sri Lanka on 28 September.
The 18-member business delegation consisted of importers, exporters and potential investors from the industry mix of food and agricultural products, trading, textile manufacturers, auto component manufacturers, IT products and services, civil construction, building materials, electrical services, media equipment, and engineering institutions owners etc.
Over 50 Sri Lankan business organisations joined the B2B session with the intention of exploring business opportunities.
Addressing the business forum NCCSL President Nandika Buddhipala appreciated the interest taken by the delegation and thanked the Indian government for the support extended during the most difficult time Sri Lanka is going through.
He further stated, the Indian economy was opened in 1990s much later than Sri Lanka, however, managed to achieve a tremendous progress in attracting FDIs and increasing international trade discounting the fact that their ability to resort to home grown solutions being second most populous, fifth largest GDP and seventh largest country by area in the world.
Dhronacharya Business Council of India President Gunaseelan addressing the gathering said, India had been a true friend of Sri Lanka from the ancient times. The business community in India is very much interested in doing business with Sri Lanka and the delegation is here to explore the possibilities in the trade and investment aspects. Further Gunaseelan noted that his business Council will continue to bring in more and more business delegations to Sri Lanka.
The National Chamber acknowledged the support and the guidance extended by the Indian High Commission in Sri Lanka and the Deputy High Commissioner of Sri Lanka in Chennai Dr. Venkateshwaren, in organising the delegation visit and the support extended by the Export Development Board of Sri Lanka.
Sri Lanka and India enjoy strong bilateral and trade ties that have been further strengthened by a functioning free trade agreement (FTA). Sri Lanka’s geographical positioning in the Indian Ocean and the country’s close proximity to India have helped also helped boost business/trade ties between Sri Lanka and India. With Sri Lanka’s economy focused on expanding, Indian businesses/investors could confidently explore opportunities in Sri Lanka and vice versa. Indian businesses that have ventured into Sri Lanka have recorded growth and profits indicating the the growing business potential in Sri Lanka. Indian businesses could also look at forming partnerships or joint ventures with Sri Lankan businesses for further expansion. On the other hand, foreign businesses interested in doing business with India could set up base in Sri Lanka to engage with India using the preferential treatment enjoyed by Sri Lankan business entities when engaging with India.
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