Ambassador of Sri Lanka to Türkiye Hasanthi Urugodawatte Dissanayake met with Director General for Foreign Relations at the Ministry of Energy and Natural Resources of Türkiye Öztürk Selvitop recently to discuss mutually beneficial collaboration between the two countries.
Following discussions on the current situation of the energy and natural resources sectors of both Sri Lanka and Türkiye, global trends of sustainability and renewable energy were also analysed in the context of responsibilities of nations to adhere to best practices which would minimize the impact of climate change.
The ambassador briefed on opportunities for investment in the renewable energy sector in Sri Lanka particularly noting that Sri Lanka has committed to generate 70% of its electricity requirement by 2030 from renewable energy sources as well as having certain elements, such as graphite which is also used for manufacturing solar batteries.
She also mentioned that Sri Lanka is well-endowed with industrial minerals, including graphite, ilmenite, rutile, zircon, quartz, feldspar, clay, kaolin, apatite (phosphate rock), silica sand, garnet sand, mica, calcite and dolomite, which could be used for a range of industries and that Sri Lanka welcomes investors in manufacturing industries that could utilize these minerals in a sustainable manner.
As suggested by Director General Selvitop, the Ambassador agreed to share the relevant legislations, laws and regulations regarding the energy sector in Sri Lanka which could be disseminated to related enterprises in Türkiye. The ambassador also confirmed that tenders and business proposals from Sri Lanka in the energy sector will be circulated among the interested parties in Türkiye. Moving forward, it was agreed to start with online meetings between the government and sector representatives to discuss avenues of cooperation in the field of energy between the two countries.
The ambassador also explained that agreements such as reciprocal promotion and protection of investments, avoidance of double taxation and customs cooperation between Sri Lanka and Türkiye are expected to be operationalized in the coming months which will be an incentive for potential Turkish investors to invest in Sri Lanka. Possible collaboration on petroleum products and related activities too were discussed.
Ambassador Dissanayake also apprised the Director General on the recent visit of a private sector delegation from Türkiye to Sri Lanka, arranged by the Embassy of Sri Lanka in Ankara, to explore opportunities in the energy sector, including renewable energy.
Embassy of Sri Lanka
Ankara
22 February 2023
