Thai consul raises Sri Lanka-Thai free trade agreement and trade opportunities
The Morning: During the 14th Annual General Meeting (AGM) of the Sri Lanka-Greater Mekong Business Council (SLGMBC) of The Ceylon Chamber of Commerce held recently and Mission of Viet Nam Deputy Head Le Van Huong, Consular of Thailand Prangtip Kongrittisuksakon, and Counselor of Myanmar Wint Wint Khaing Tun, each expressed the existing opportunities for Sri Lanka to deepen its trade ties with Thailand and Myanmar.
Addressing the gathering Le Van Huong, Mission of Viet Nam Deputy Head Le Van Huong spoke about the many similarities in history, geography, and culture between Sri Lanka and VietNam and emphasised opportunities for collaboration in textiles, agriculture, fisheries, food processing, logistics, and tourism. He commended the SLGMBC and the Ceylon Chamber for their vital role in strengthening bilateral business relations. Huong reaffirmed the embassy’s commitment to supporting entrepreneurs in both countries and encouraged Sri Lankan businesses to explore investment and trade opportunities in VietNam.
Tun highlighted Sri Lanka’s $ 9 million investments in Myanmar. She further noted that bilateral trade has more than doubled to $ 11.4 million in 2024-2025 and emphasised the opportunity to expand collaboration in tea, tourism, coconut products, IT, healthcare, and gems and jewellery.
Kongrittisuksakon meanwhile highlighted the signing of the Sri Lanka-Thailand FTA as a new milestone in long-standing relations between Thailand and Sri Lanka. She added that this provided an opportunity for Thailand and Sri Lanka to join hands in bringing ancient and traditional wisdoms, combined with appropriate science and technology, to enhance sustainability and people’s wellbeing in both counties and highlighted the collaborative opportunities in food, agriculture, and health sectors, and also business matching activities in these sectors.
OSL take:
Sri Lanka is currently in the process of reviewing existing trade agreements with foreign countries while also looking at further expanding trade ties through the inclusion of more countries to the list of countries with ties. It is in such a backdrop that Sri Lanka and Thailand are looking at exploring opportunities to reap the full potential of the free trade agreement between the two countries. With many trade agreements and trade concessions enjoyed with many foreign countries, Sri Lanka is uniquely positioned as an effective trade partner with these countries. Foreign businesses/investors while exploring the many business/investment opportunities in Sri Lanka’s exports industry, could also look at setting up bases in Sri Lanka to engage with the many countries in the region that Sri Lanka has strong trade ties with.
| Article Code : | VBS/AT/20251027/Z_4 |