Sri Lanka-France ties strengthen with € 540 m trade, port security, and tourism boost
Daily FT: Following a year marked by €540 million in bilateral trade and $485 million in French investment, France is seeking deeper engagement with Sri Lanka by expanding its tourism ties, supporting maritime security, and reinforcing regional cooperation, said French Ambassador Rémi Lambert recently.
This address took place at the 21st Annual General Meeting of the Sri Lanka-France Business Council (SLFBC) held at the Ceylon Chamber of Commerce. The Ambassador attended the event as Chief Guest and Patron of the Council, which serves as a key body facilitating trade and investment ties between the two countries.
During the meeting, MAC Group Chairman Andre Fernando was re-elected as President of the Council, supported by Inter Air Sea and Logistics Assistant General Manager Jonathan Suppiah as Senior Vice President, and of Spillburg Holdings Director and CEO Shaameel Mohideen as Vice President. The Council’s Committee Members for the year include representatives from Puritas Ltd., Diesel & Motor Engineering PLC, Mack Air Ltd., Noyon Lanka Ltd., and CEVA Logistics.
In his address, Fernando highlighted tourism and investment as two strategic avenues through which the Council is working to deepen engagement. He shared that discussions were ongoing to bring a well-known French sports personality to Sri Lanka to assist with tourism promotion, supported by exposure across French media platforms. On the investment front, he said the Council is in talks to attract France-based investors operating in India to explore opportunities for expansion into Sri Lanka.
These initiatives were part of the groundwork laid over the past year, with the aim of achieving positive outcomes in the medium to long term.
Lambert’s address focused on his diplomatic vision, with the three key pillars of economic collaboration, maritime, logistics and aviation and tourism guiding France–Sri Lanka cooperation.
“Our commercial exchanges are diverse and have now surpassed the half billion euro mark, reaching €540 million by the end of 2024. France ranks as Sri Lanka›s ninth largest investor and the first among the European Union countries,” he said, noting that French investment spanned sectors like manufacturing, maritime logistics, and energy.
Well-known companies like Michelin, CMA CGM, and Bureau Veritas, were already operating in Sri Lanka, and they were driving innovation, creating jobs, providing training, and enriching Sri Lanka’s economic landscape, he said.
Lambert also stressed the importance of Sri Lanka maintaining duty-free access to the EU market through the GSP+ scheme, which was “an incredible possibility” that depended on compliance with sustainable social standards. He also noted that a GSP+ monitoring mission had visited Colombo in May, with outcomes now under review in Brussels.
He also underscored Sri Lanka›s strategic location in the Indian Ocean region, at the crossroads between India and the ASEAN placed the country at the heart of French companies’ strategic vision in South Asia. Additionally, its proximity to France’s overseas territory of Réunion Island made Sri Lanka a natural partner in France’s Indo-Pacific strategy.
“France and Sri Lanka share a deep commitment to maritime security, sustainable connectivity, and environmental stewardship. This region is not just a shared space, but also a shared responsibility.”
OSL take:
Sri Lanka is currently in the process of further strengthening and expanding its existing trade ties while also working on building ties with more countries to gain access to new foreign markets. The country’s existing trade agreements and trade concessions have helped boost and expand Sri Lanka’s manufacturing and exports sectors. It is in such a backdrop that Sri Lanka and France are working towards further strengthening and expanding ties in multiple sectors. Given this development French businesses/investors could confidently explore the expanding business/investment opportunities in Sri Lanka while also looking at possibilities to form partnerships or joint ventures with local businesses with the aim of further expansion. Sri Lankan businesses could also look at opportunities to form partnerships with French businesses to expand access to the French market and other European markets through France.
| Article Code : | VBS/AT/20250717/Z_4 |