Lankapage Logo CP 21 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka keen to revitalize bilateral trade and investment with Germany
Wed, Aug 5, 2020, 08:04 pm SL Time, ColomboPage News Desk, Sri Lanka.

Aug 05, Colombo: Sri Lanka’s economic engagement with Germany, one of the largest trading partners of Sri Lanka has a huge potential to improve further, Ambassador-designate of Sri Lanka to Germany Manori Unambuwe said.

The Consulate General of Sri Lanka in Frankfurt am Main organized a Business Forum on 31 July, 2020 on the occasion of the visit of Ambassador-designate of Sri Lanka to Germany Manori Unambuwe.

The Business Forum was attended by more than 35 guests including eminent entrepreneurs, potential investors and officials from the Chambers of Commerce and Economic Ministries from key southern Federal States in Germany. Theme of the Event was – ‘Opportunities to revitalize Bilateral Trade and Investment between Sri Lanka and Germany’.

Consul General Madurika Joseph Weninger welcomed the participants and highlighted the special relationship between Sri Lanka and Germany. She also added that the Year 2019 was a watershed year for bilateral trade between the two countries which exceeded a billion Euros with the trade balance being in favor of Sri Lanka.

Ambassador Manori Unambuwe in her opening remarks stated that Germany is one of the largest trading partners of Sri Lanka and economic engagement between Sri Lanka and Germany has improved significantly over the past few years and has a huge potential to strengthen it further.

She further stated that greater liberalization and reforms were introduced by the government of Sri Lanka to spur investment and trade. The Ambassador highlighted that in the face of global pandemic, priorities are being reassessed and notable trends are seen in industry segments of Information Technology, Health and Wellness, as well as green initiatives and sustainable development, which Sri Lanka is well poised to be a partner with Germany.

Speaking on growing demand for digitalization, the Ambassador highlighted the well-developed infrastructure and resource pool availability in Sri Lanka and invited German companies to consider Sri Lanka as an outsourcing destination. She further said ‘we are a signatory to the WIPO (World Intellectual Property Organization) which provides protection and confidence to entrepreneurs engaging in software development and a series of webinars are being planned with relevant organizations to raise awareness of Sri Lanka as an ideal destination.’

Counsellor of the Sri Lanka Embassy in Germany Ahmed Razee presented an overview of economic developments between the two countries and underlined Sri Lanka’s unique geographical position combined with a skilled labor force and attractive incentives, which makes Sri Lanka an ideal launch pad to reach a broader market in the Asian region, through several Free Trade Agreements. He further shared the advantages of trade for SMEs which can leverage GSP Plus concessions to increase exports to the German market.

The Event concluded with the Consul General of Sri Lanka hosting a traditional Sri Lankan lunch to the Ambassador and the distinguished invitees to the Business Forum.

On the 30th of July, 2020 Ambassador Unambuwe held meetings with Dr. Jurgen Ratzinger, Managing Director for International Business of the Frankfurt Chambers of Commerce and Industry, (IHK) and Mr. Johannes Richter, Unit Head for Southeast Asia of IHK to discuss opportunities to further increase Sri Lanka - German trade and investment cooperation.

 

ColomboPage - Recent 10 Stories ::
Sri Lanka Coast Guard seizes Rs. 4 million worth turmeric stock smuggled in Chilaw
-- [3 minutes ago]
LAUGFS Terminals complex at Hambanthota Port celebrates 100th ship call
-- [22 minutes ago]
Sri Lanka’s Colombo Stock Exchange goes fully digital
-- [41 minutes ago]
33,000 kilos of illegally imported turmeric seized
-- [2 hours ago]
President criticizes both public and private sectors for slow pace of work
-- [2 hours ago]
2021 Draft Appropriation Bill in second week of October
Sri Lanka Manufacturing and Services sectors continue expansion in August 2020
Minimum age of employment to be raised to 16 years
The President and the Cabinet will accept the responsibility of the 20th Amendment
Captain of fire-stricken oil tanker summoned to appear in Sri Lankan court

Copyright © 2000, 2020 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.