Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka, Bahrain launch business forum
Wed, Apr 30, 2014, 04:43 am SL Time, ColomboPage News Desk, Sri Lanka.

Apr 30, Manama: Sri Lanka and Bahrain Tuesday inaugurated the Bahrain-Sri Lanka Business Forum at the headquarters of the Bahrain Chamber of Commerce and Industry (BCCI) in Manama.

A large gathering of prominent business leaders from both Sri Lanka and Bahrain participated in the Forum that consisted of business-to-business meetings and a visit to the Bahrain International Investment Park.

Minister of External Affairs Prof. G.L. Peiris, Bahrain's Minister of Industry and Commerce Dr. Hassan A. Fakhro, Minister of Industry and Commerce Rishad Bathiyutheen and the Second Vice Chairman of Bahrain Chamber of Commerce and Industry Jawad Alhawaj delivered speeches at the forum.

Two discussion sessions were held during the Forum. While the first discussion has focused on the business opportunities available in Bahrain for the Sri Lankan business community, the second session discussed trade, tourism and investment in Sri Lanka, Bahrain News Agency said.

Chairman of Sri Lanka Export Development Council, Bandula Egodage, Director General of Sri Lanka Tourism, Dr. D. S. Jayaweera, and Director of Investment Board of Sri Lanka, K.D. Lawrence have made presentations at the session.

Addressing the gathering, Industry and Commerce Minister of Bahrain, Dr. Hassan Fakhro, recalled that agreements and memoranda of understanding have been signed between the two countries over the years.

The Bahraini Minister noted that the bilateral non-oil trade with Sri Lanka has increased from approximately US$9 million in 2006 to some US$30 million by 2011.

The Minister affirming that the visit of the Sri Lankan President to Bahrain is a great opportunity to invigorate mutual business relations highlighted the promising opportunities available in Bahrain for Sri Lankan investors and areas of potential cooperation, particularly in foodstuffs, building materials, tourism, textiles, garment manufacturing and banking.

There are approximately 20 Sri Lankan companies operating in various fields, Dr. Fakhro has confirmed.

Noting the contributions of Sri Lankan community to Bahrainís socio-economic development, the Minister has commended the excellent Bahraini-Sri Lankan relations and welcomed foreign investors in a suitable investment environment.

The two countries have signed an Avoidance of Double Taxation Agreement, a Memorandum of Understanding on Economic, Trade and Technical Cooperation signed in 2009, an Agreement of Cooperation with the Federation of Chamber of Commerce and Industry of Sri Lanka (FCCISL), an Agreement for the Establishment of a Joint Business Council with the FCCISL, as well as a Cooperation Agreement between BCCI and Sri Lanka Chamber of Commerce, which was signed in 2007.

Deputy Minister of Labor and Labor Relations Sarath Weerasekara and Sri Lanka's Ambassador to Bahrain Mr. Anura Rajakaruna also participated in the event.

(Photos by Sudath Silva)

ColomboPage - Recent 10 Stories
Travel ban imposed on Avant Garde Chairman and former Defense Ministry official
-- [5 hours ago]
Sri Lankan Foreign Affairs Minister visits Sweden
-- [6 hours ago]
Sri Lankan PM reminds former president advantages of GSP+
-- [6 hours ago]
PM leaves for Switzerland to attend Davos meeting
-- [7 hours ago]
Hayleys unveils Sri Lanka's largest capacity solar power plant in Welikande
-- [8 hours ago]
Over Rs. 1 billion paid as compensation to people affected by Salawa Army explosion
Over 1,300 dengue cases reported in Sri Lanka already in the year
Drone camera hits pinnacle of Ruwanweli Maha Seya in Anuradhapura
Sri Lanka main Tamil party threatens to quit constitution-making process if more devolution not considered
Iran, Sri Lanka hope to remove financial obligations on way of bilateral corporation

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.