Sri Lanka discusses ways to strengthen economic ties with Jordan
Daily FT: The Ambassador of Sri Lanka to Jordan J.A.D.S. Priyangika Wijegunasekara, held talks with the First Vice Chairman of the Jordan Chamber of Commerce Nabil Khatib on 22 January, which focused on ways to strengthen economic ties between the two countries through visits of delegations and trade missions.
At the discussion Ambassador Wijegunasekara spoke of the developing Sri Lanka-Jordan relations on trade and the growth and development of bilateral relations which was established in 1965.
The Ambassador also emphasised on the need to strengthen the economic and trade relations between the two countries and improve political and financial stability and shared updates on the ongoing IMF bailout program, and the ease of import controls that take place subsequently. The discussion also focused on attracting Jordanian investors to Colombo Port City, which is vital for the socio-economic development of Sri Lanka.
Ambassador Wijegunasekara also stated that the Embassy is ready to open channels of communication between Sri Lanka and the Jordanian Chamber of Commerce and indicated the possibility of availing the excellent relationship between the two sides which is important in reaching the right business owners and merchants of both countries.
Vice Chairman Khatib stressed on the importance of encouraging private sectors in both countries to explore areas of cooperation in trade, tourism, and investment and called for intensifying visits by business delegations as well as supporting the existing tourism cooperation between Jordan and Sri Lanka.
Director General of the Chamber Hisham Dweik stated that trade between the two countries had grown significantly in the first ten months of last year, reaching to about $ 79 million with Jordan ready to offer products such as olive oil, Dead Sea salts, and dates to the Sri Lankan market.
Jordan’s main imports from Sri Lanka include plant products, tea, furniture, wood, and corrugated paper, while the Kingdom’s main exports to Sri Lanka are textile products, fabrics, and iron and steel products.
OSL take:
Sri Lanka is currently on a path to expand the country’s existing trade ties with other countries while also exploring new trade ties with more countries. It is in such a backdrop that Sri Lanka is looking at strengthening trade ties with Jordan. Sri Lanka already exports several products to Middle Eastern countries including Jordan. The increasing ties between Sri Lanka and Jordan would also encourage Jordanian businesses/investors to explore the expanding business/investment opportunities in Sri Lanka. The increasing economic activities in the country and the growing opportunities in Sri Lanka are evident with the country working towards becoming an emerging business destination in the South Asian region. Also, given Sri Lanka’s growing trade ties with foreign countries, including the Middle East, foreign businesses/investors could look at setting up base in Sri Lanka to engage with other countries using the preferential treatment enjoyed by Sri Lanka with many countries.
| Article Code : | VBS/AT/20240209/Z_6 |