Sri Lanka to hold virtual session to explore trade opportunities in Russia
The Ceylon Chamber of Commerce together with the Sri Lanka Russia Business Council (SLRBC) is to host a virtual interactive meeting to explore trade and investment opportunities in Russia on 14 July. This move has been initiated as Sri Lanka increasingly focuses on developing its export sector in order to address the economic crisis.
Sri Lanka’s Ambassador to Russia Professor Janitha Liyanage is scheduled to address the session and share insights and information on current trends relating to trade and tourism in Russia.
According to reports, the session is particularly pertinent in the current context, as Sri Lanka and Russia are expanding trade, economic, cultural, educational, humanitarian and tourism ties.
Meanwhile, Russia continues to be a major importer of Ceylon Tea, while Sri Lanka continues to be an attractive destination for Russian tourists.
The session is also expected to provide an opportunity for participants to exchange ideas as to how the business community in Sri Lanka could harness the potential of developing new alliances or strengthen their existing business activities with the Russian business community.
Sri Lanka and Russia enjoy strong bilateral and trade ties with Russia being one of the largest buyers of Ceylon Tea. Also, since of late, Russian tourists to Sri Lanka has also seen a steady growth. It is in such a backdrop that Sri Lanka is looking at further enhancing its trade platforms by expanding its presence in Russia. Sri Lanka’s geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by the country have also helped boost the country’s image as a business destination in the region. Russian business/investors could therefore explore at opportunities in Sri Lanka and look at setting up base in the country to engage with the region. They could expand their trade platforms using the trade ties enjoyed by Sri Lanka. Russian businesses could also look at forming partnerships or joint ventures with local businesses with the aim of expanding operations.
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