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ABOUT SRI LANKA
Located in the Indian Ocean in South Asia, the tropical island nation of Sri Lanka has a recorded history of over two millennia. A multi-ethnic, multi-religious country with a rich cultural heritage influenced by Buddhism, Sri Lanka is a place where nature’s beauty remains abundant and unspoiled.
Foreign Direct Investment remains a crucial component for Sri Lanka’s economy. In recognizing the crucial role of the Ministry of Foreign Relations and the Sri Lanka Missions in promoting Sri Lanka as an attractive destination for FDIs, the Economic Affairs Division has since 2018 set investment targets for respective Missions abroad in consultation with the BOI. Based on the proposals received from several Missions on investment promotion programmes, events were organized which proved successful.
Overseas Sri Lankans as Development Partners
Overseas Sri Lankans role as Development Partners has been identified in the concept paper on engaging Overseas Sri Lankans of the Economic Affairs Division. The following promotion events were conducted under this programme under the umbrella of Economic Diplomacy Programme:
- Investment and Trade Round Table Meeting for the British Sri Lankan Diaspora, 2 September 2019, London, United Kingdome.
- Introduction to One Village One Products and 2,000 Exporters Development Programme of the Export Development Board (EDB) to Sri Lankan community through Sri Lanka Consulate General in Melbourne with a view to generate interest, and identify investors, 13 October 2019.
Promotion Activities in Selected Markets
The following events were conducted:
- Investment Promotional Forum “Investment Climate and Business Opportunities in Sri Lanka” from 19-22 February 2019, Seoul, Korea.
- Investment and trade promotion round-table for the British Sri Lankan business community in the UK, 02 September 2019.
- The Economic Affairs Division remains ready to facilitate inbound and out bound investment proposals in consultation with Sri Lanka Missions abroad and relevant line agencies in Sri Lanka.
The Economic Affairs Division is mainly facilitating Promotional Activities in Selected Markets under the Economic Diplomacy Programme, with the active participation of Sri Lanka Missions and the Government economic agencies.As each market has a different set of strengths; this sub-programme is designed to identify the key markets and propose suitable promotional strategies catered to those strengths. Through this programme , the Economic Affairs Division has taken the initiative to engage directly, finance and organize Economic Diplomacy programmes in 2018 and 2019 while activities will be organized in 2020 in line with the targets and objectives of the line agenciesand the private sector.
In 2018 and 2019, 26 Sri Lanka Missions overseas in emerging markets were supported in carrying out 39 targeted campaigns to enhance Sri Lanka’s global footprint and bring tangible economic benefits to the country. These promotional events ranged in line with the main focus sectors of the National Export Strategy (NES) launched by the Export Development Board. Following the conclusion of promotional events, the Economic Affairs Division called for progress reports from each Mission. The reports received indicated that the targeted promotional events had produced significant encouraging outcome by ensuring and enhancing direct linkages between Sri Lankan exporters and importers in the intended countries. Several direct export orders had materialized through these specific events.
Trade Activities Conducted in 2018 and 2019:
|Country/Mission||Year||Name of the Project/Activity|
|Australia/ Sydney||2018/2019||IT-BPM companies led by Information and Communication Technology Agency (ICTA) visited Sydney from 28 – 30 November 2018 on an accelerated market access programme to facilitate and support the IT industry in Sri Lanka. Country Pavilion at the CeBit Australia from 29 to 31 October 2019 at the International Convention Centre. Networking Meeting with the Sri Lankan Association and the Business Community in engaging Overseas Sri Lankans in promotional activities on 19 December 2020|
|Australia/Melbourne||2019||Introduce “One Village One Product” & 2000 New Exporters’ Development Programme.|
|Bahrain||2018||Sri Lankan Produce & Food Mart, 28 November to 1 December 2018.|
|Belgium||2019||Sri Lanka’s Participation at the Seafood Expo Global - Brussels, Belgium, 7 to 9 May 2019.Fair Trade and Organic Products Promotion, Belgium, 10 to 11 October 2019|
|Cuba/Havana||2019||Roundtable Discussion and Business Meeting with Exporters from Sri Lanka and Importing Agencies, Cuba, 25 to 29 June 2019|
|China/ Beijing||2019||Sri Lanka, the Theme Country for 2019, attended the 6thSouth Asia EXPO from 12th to 18th June in Kunming with 104 Sri Lankan Exhibitors and in an area of 600 Sqm Theme Pavilion showcasing our major export products such as Tea, Gem and Jewellery, Handicrafts, Spices, Ayurvedic products and Agricultural Products as well as featuring Sri Lanka as a major investment and tourism destination highlighting Colombo Port City , Sri Lanka – the Hub of South Asia and many more tourism attractions to the large visitors from China|
|France/ Paris||2019||Sri Lanka’s participation in the “Food Ingredient Europe - 2019 exhibition”, Paris, France, 3 to 5 December 2019.|
|India/ New Delhi||2019||Participation in SIAL India 2019: Food and Food Processing International Exhibition, New Delhi from 19-21 September 2019. Participation in the India International Mega Trade Fair, 13 to 25 December 2019 and Business Interactive session on “Doing Business with Sri Lanka” followed by B2B meetings on 12 December 2019 and 16 December 2019.|
|Korea/ Seoul||2019||Investment Promotional Forum “Investment Climate and Business Opportunities in Sri Lanka” from 19-22 February 2019.|
|Japan/ Tokyo||2018||Sri Lankan Produce & Food Mart, 28 November to 1 December 2018.|
|Oman/ Muscat||2019||B2B Meeting between Sri Lankan food sector companies and their counterparts from Omani Business Community, Al-Falaj Hotel in Muscat, 1 October 2019./span>|
|Russia/ Moscow||2019||Webinar session, 10 December 2019.|
|Singapore||2019||Sri Lankan FinTech companies participate in the Singapore Fintech Festival (SFF) 2019, 11-15 November 2019.|
|Sweden/ Stockholm||2018/2019||Participation at Nordic Organic Food Fair 2018, Business Seminar for IT companies, 2018 and 2019 from 1-2 October 2019.Ceylon Cinnamon promotion, 2019.|
|South Africa/Pretoria||2018||Sri Lanka for the first time showcased apparel products at International Apparel, Textile & Footwear trade Exhibition (ATF Trade Exhibition) held on 20- 22 November 2018 at Cape Town International Conference Centre in South Africa|
|UK||2019||Investment and trade promotion round-table for the British Sri Lankan business community in the UK, 02 September 2019.|
Republic of Korea
Chargé d’ Affaires of the Embassy of Sri Lanka in the Republic of Korea Jagath Abeywarna giving the welcome speech before starting the Investment Promotion Seminar at the Korea Chamber of Commerce and Industry (KCCI) on 19 February.
Q & A Session
Delegation from the Board of Investment (BOI) of Sri Lanka at a business meeting with Chairman of Korea Agricultural Machinery Industry Cooperative (KAMICO) / Honorary Consul of Sri Lanka in Daegu and its member companies.
Chargé d’ Affaires of the Embassy of Sri Lanka in the Republic of Korea Jagath Abeywarna and delegation from Sri Lanka in a meeting with Vice Chairman of the International Contractors Association of Korea (ICAK) Song Youngcheol in Seoul on 20 February.