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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.

Investment


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:

  1. Investment and Trade Round Table Meeting for the British Sri Lankan Diaspora, 2 September 2019, London, United Kingdome.
  2. 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:

  1. Investment Promotional Forum “Investment Climate and Business Opportunities in Sri Lanka” from 19-22 February 2019, Seoul, Korea.
  2. 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.

 

Trade


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 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 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

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