Sri Lankan government to work on country’s potential to become a seafood processing hub

Sri Lankan government to work on country’s potential to become a seafood processing hub

Chairman of Sri Lanka’s Presidential Task Force on Economic Revival and Poverty Eradication Basil Rajapaksa has reportedly noted that Sri Lanka possesses the potential to become a seafood processing hub given its strategic location and marine resources.
Rajapaksa has made this observation during a visit to the processing plant of one of the country’s leading exporters Global Sea Foods Ltd. (GSF).

Managing Director of GFS, Prabhash Subasinghe, is also the Chairman of Sri Lanka’s Export Development Board (EDB).
Rajapaksa has reportedly commended the hygiene and quality standards maintained whilst processing seafood.

Rajapaksa had also noticed the processing methodology and unique packaging methods adopted by the company.
According to reports, Rajapaksa had also said he was aware of the current issues faced by the sea food exporters and had assured to look at addressing the issues.
Meanwhile, Subasinghe has said the revival of exports is a sign of economic recovery.

“Seafood industry has been a major contributor towards the exports out of Sri Lanka even during the COVID pandemic and the Government is indeed geared up to boost exports and would work with all line ministries to achieve the targets,” he has been quoted as saying in the local media.

OSL take:

Sri Lanka’s geographical positioning in the Indian Ocean, ease of doing business environment and the many trade agreements as well as trade concessions enjoyed by the country have made it a business hub in the South Asian region. It has also provided the opportunity for Sri Lanka to be a hub in the fisheries sector, paving the way for the country to become a seafood processing hub. Foreign businesses/investors could therefore explore opportunities in this emerging sector of seafood processing.  

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Article Code : VBS/AT/20200921/Z_3

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