Sri Lanka: One of the best ethical and sustainable sourcing destinations
Daily FT: Sri Lanka Embassy in Brussels participated at the European Parliament “Fair Trade Breakfast-2024”, on 13 November 2024, highlighting Sri Lanka as one of the best ethical and sustainable sourcing destinations in the world.
The event was organised by the “Fair Trade Advocacy” Office in Belgium and hosted by the European Parliament’s “Fair Trade Working Group” and its Chair Bernd Lange, a member of the European Parliament. The Embassy, with the support of the Sri Lanka Export Development Board (EDB) participated in this event, as a special guest. A cross section of Fair-Trade products manufactured by a number of Sri Lankan Fair Trade certified companies were showcased at this event, including tea, spices, coconut-based products and toys.
Ambassador Chandana Weerasena made a speech at the event giving a brief introduction to the background of the diverse range of Fair-Trade products in Sri Lanka, current development in the fair-trade sector while highlighting the challenges faced by the sector. Further, on behalf of Sri Lankan stakeholders, the Ambassador pointed out key areas that Sri Lanka needs support from relevant EU institutions and international Fair Trade organisations.
Fair Trade Advocacy Office Managing Director Jorge Conesa de Lara highlighted that securing Fair Trade structures based on mutually beneficial collaboration with producers, farming communities and partner countries must be central to the process when entering legislation to advance sustainable development.
Juliana Asiedu, a young producer from the Offinso Fine Flavour Cooperative Cocoa Farmers and Marketing Society Ltd. highlighted the urgent need for greater support to help farmers adapt to climate change, urging policymakers to place farming communities at the heart of decision-making. SeeMe Founder Caterina Occhio, a Fair Trade verified jewellery brand, whose extensive work promoting gender equality through ethical and Fair-Trade practices demonstrated how these efforts not only contribute to global justice but also transform the lives of producers.
OSL take:
Sri Lanka’s ongoing economic expansion has resulted in the Sri Lankan government focusing on the existing global trends like sustainable development and achieving the sustainable development goals along with it. With Sri Lanka poised to serve as a sustainable sourcing destination, there’s a host of new business/investment opportunities emerging in Sri Lanka. The country’s target of achieving hub status in the South Asian region along with the overall economic expansion, foreign businesses/investors could confidently explore the emerging business/investment opportunities in ethical and sustainable business engagement, especially in trading. Given Sri Lanka’s strong and expanding trade agreement and trade concessions with many foreign countries, it helps the country guarantee lucrative business/investment opportunities in uplifting the sectors of ethical and sustainable practices. The overall increase in Sri Lanka’s business potential provides many opportunities for foreign businesses/investors interested in engaging with the country.
| Article Code : | VBS/AT/27112024/Z_2 |