The Sri Lanka and Australia Chamber of Commerce (SLACC) together with Consulate General of Sri Lanka in Sydney and Gilbert and Tobin Lawyers organised a Business Networking Event to explore business and investment opportunities in Sri Lanka on 1 October 2019 in Sydney.
Welcoming the guests, the President of Sri Lanka-Australia Chamber of Commerce, Kalum de Silva emphasised that major objective of this programme was to disseminate information on Sri Lanka’s business potentials among the Australian entrepreneurs.
Sri Lanka High Commissioner in Canberra J.C. Weliamuna, in his first meeting with the business community after assuming duties in Australia, remarked the importance of trade and economic collaborations between Sri Lanka and Australia. He stated that more opportunities are open for Australian businessman to explore the Sri Lankan market and also to expand into the regions, as well as the global destinations.
Partner of Gilbert and Tobin Lawyers Danny Tobin mentioned that he and his team were glad to facilitate business proposals between the two countries. Consul Commercial Abdul Raheem made a comprehensive presentation on Trade and Investment opportunities in Sri Lanka for Australian businessmen who are looking at Sri Lanka as an investment destination. Chief Business Development Officer of University of Technology Sydney (UTS) Peter Harris, spoke about their Sri Lankan experience in establishing a UTS branch in Colombo for higher education in technical studies.
Consul General Lal Wickrematunge, in his closing remarks, invited the Australian business community to visit Sri Lanka and explore trading opportunities beyond Sri Lankan market as numbers of Free Trade Agreements are in place and Sri Lanka is also currently having discussions with a number of trading partners to conclude Free Trade and enhanced Economic Cooperation Agreements.
Sri Lanka and Australia enjoy cordial trade and economic relations for decades and two-way trade was USD 351/- million in 2018 registering the balance of trade of USD 35 million in favour of Sri Lanka. Australia and Sri Lanka signed the Trade and Investment Framework Agreement (TIFA) in 2017 and two rounds of senior officials’ meetings were held in Australia and Sri Lanka in 2018 and 2019, respectively.
