Sri Lanka and Switzerland strengthen bilateral trade via collaborations
Daily FT: The Sri Lanka Export Development Board (EDB) recently held a meeting to discuss enhancing bilateral trade relations with Switzerland.
The meeting was attended by Ambassador of Switzerland to Sri Lanka and Maldives Dr. Siri Walt and Sri Lanka Export Development Board Chairman and CEO Mangala Wijesinghe.
The discussions focused on expanding economic collaboration between the two countries. Wijesinghe outlined Sri Lanka’s comprehensive Export Development Plan, which aims to boost the country’s export sector. He emphasised key strategies to be included in the plan such as expanding the product basket, increasing value addition, and reactivation of the Export Development Council of Ministers (EDCM) to identify and address challenges in the export industry.
Wijesinghe also emphasised the importance of political stability and the new Government’s commitment to good governance and transparent procurement processes in bolstering investor confidence. He highlighted that consolidating related institutions under the Industries and Entrepreneurship Development Ministry was a crucial step toward improving operational efficiency. This streamlined approach is designed to accelerate decision-making, ensuring swift implementation of policies and minimising delays.
In expressing his gratitude to the Swiss Government, Wijesinghe acknowledged Switzerland’s support in market research for selected export sectors and the implementation of the Global Textile Program (GTEX) in Sri Lanka. This program has played a vital role in uplifting small and medium-sized textile and apparel enterprises in the country. He also recognised Switzerland’s significant role as a trading partner and identified potential areas of collaboration, particularly in knowledge-sharing, innovation, and sustainable trade practices.
Dr. Walt congratulated the Sri Lankan Government for conducting peaceful elections and maintaining its commitment to the IMF process. She stressed the importance of traceability in global trade, noting that transparency and accountability are essential for building trust within supply chains. Dr. Walt also emphasised that fostering a corruption-free environment would attract more investment, particularly in Sri Lanka’s tourism sector. Further she expressed strong support for Sri Lanka’s Business Circle, acknowledging its value in promoting business development and facilitating networking opportunities. She highlighted its potential to connect Sri Lankan entrepreneurs with international counterparts, fostering knowledge exchange and investment prospects.
Furthermore, Dr. Walt announced plans for a proposed Swiss business delegation visit to Sri Lanka in mid-June 2025. This visit aims to strengthen business ties through dedicated forums and B2B meetings. Dr. Walt also commended Sri Lanka’s Export Development Plan, recognising its potential to enhance export capacity, diversify market reach, and align with evolving global trade trends.
The EDB sought the Swiss Embassy’s support in organising “Sri Lanka Expo”, scheduled to take place in June 2026, to showcase Sri Lanka’s export potential on an international platform.
OSL take:
Sri Lanka is in the process of further strengthening the existing trade ties while expanding ties to include more countries. The country’s geographical positioning in the Indian Ocean and the strong trade ties have helped boost Sri Lanka’s manufacturing and export sectors as well as the overall economy as the country targets on becoming a hub in the South Asian region. It is in such a backdrop that Switzerland and Sri Lanka are exploring ways to further expand trade ties through collaborations. The resilience, strength and growth shown by Sri Lanka’s economy after facing an economic crisis in 2022 has served to boost confidence among foreign businesses/investors to explore the expanding business/investment opportunities in all key economic sectors in the country. Given the interest shown by Switzerland to expand trade ties with Sri Lanka, Swiss businesses/investors could confidently explore the opportunities in Sri Lanka while also looking at expanding operations through local collaborations. Other foreign businesses/investors could also follow suit by exploring opportunities in Sri Lanka while also setting up bases in the country to engage with other countries in the region using Sri Lanka’s strong trade ties with many countries inside and outside the region.
| Article Code : | VBS/AT/20250404/Z_2 |