Sri Lanka, Philippines eye closer ties in trade, labour, fisheries
EconomyNext: Sri Lanka and the Philippines concluded the third round of political consultations in Colombo, with both countries pledging to expand cooperation across a wide range of sectors ahead of the 65th anniversary of their diplomatic relations in 2026, the island nation’s Foreign Ministry said.
Foreign Secretary Aruni Ranaraja during the meeting concluded on Friday expressed hope that Manila would consider reopening its resident mission in Colombo. She also noted that Sri Lanka looks forward to working with the Philippines as it prepares to take on the ASEAN chairmanship.
The talks focused on boosting cooperation in agriculture, labour, trade, fisheries, culture, defence, and education, while also addressing broader regional and multilateral issues.
“Priority was given to agriculture, with special focus on the coconut and plantation industries, alongside collaboration in technology transfer, irrigation, food security, and rice research,” Sri Lanka’s Foreign Ministry said in a statement.
“Fisheries and aquaculture were also identified as areas for deeper engagement, with Sri Lanka welcoming the opportunity to learn from the Philippines’ advanced expertise, particularly in ‘milkfish’ breeding technology.”
“Both sides also emphasized the importance of labour sector cooperation, with Sri Lanka recognizing the Philippines’ global leadership in migration governance. Discussions highlighted the need for the early conclusion of the draft MoU on Labour Cooperation, as well as knowledge sharing on pre-departure preparation, regulated recruitment and deployment and welfare of migrant workers.”
On trade and investment, both countries agreed to promote greater collaboration between Sri Lanka’s Export Development Board and the Philippines’ Center for International Trade Expositions and Missions (CITEM).
The meeting was co-chaired by Sri Lanka’s Additional Secretary for Bilateral Political Affairs-East, Sashikala Premawardhane, and the Philippines’ Undersecretary for Policy, Ma Hellen B. De La Vega. Senior diplomats and officials from both countries attended the discussions.
The next round of consultations is scheduled to be held in Manila in 2026.
OSL take:
Sri Lanka is in the process of reviewing and further strengthening existing trade ties with many foreign countries while also looking at forming new trade ties with many others. It is in such a backdrop that Sri Lanka is exploring avenues to strengthen trade ties with the Philippines. Sri Lanka already has trade agreements with many countries including several countries in the region while also enjoying trade concessions from key markets like the EU and UK. These strong trade ties have also expanded Sri Lanka’s manufacturing and export industries with businesses already engaged in these industries posting impressive growth and profits. This has resulted in many foreign businesses/investors exploring the expanding business/investment opportunities in Sri Lanka. Other foreign businesses/investors have expressed a keenness in engaging in trade with Sri Lanka. Filipino businesses could therefore confidently explore the business/investment opportunities in Sri Lanka while also looking at expanding operations through partnerships or joint ventures with local businesses. Other foreign businesses/investors could look at setting up bases in Sri Lanka to engage with other countries in the Asian region using the strong trade ties enjoyed by Sri Lanka with them.
| Article Code : | VBS/AT/20250918/Z_3 |