Import Promotion in Sri Lanka discussed

Kathmandu - Embassy of Nepal in Sri Lanka convened a half day brainstorming session on "Nepal-Sri Lanka BilateraI Relations: Emerging Issues in Export Promotion’’ in Colombo on Tuesday. 

The event was attended by around 50 prominent personalities including Cabinet Minister, Ambassador, office bearers of different Chamber of Commerce and industries based in Sri Lanka, Sri Lanka- Nepal Friendship and Business Council, Sri Lanka Nepal Chamber of Commerce and Industries and many potential investors from Government and private sectors, said a press release issued by Nepali Embassy in Colombo. 

Ambassador of Nepal to Sir Lanka, Prof. Bishwambher Pyakurel, made PowerPoint presentation, highlighting the key Nepalese commodities having export potentials in Sri Lanka. He also shed light on some indicators illustrating the current status of trade between Sri Lanka and Nepal and focused on the facilities available to foreign investors which is offered from Foreign Investment and Technology Transfer Act. 

On the occasion, Minister of Primary Industries, Daya Gamage, delivered a key note speech on existing bilateral relationship and prospects of bilateral trade and investment. The Minister also assured Sri Lankan investors to do the needful support from the Sri Lankan Government. 

Other speakers who focused on the prospects of bilateral trade and investment were Professor of Economics at Colombo University, Dr Sirimal Abeyrathne, Chairperson and CEO of Sri Lanka Export Development Board, Indira Malwatte, and President of SAARC Chamber of Commerce, Mr. Suraj Baidya. 

In-depth discussion was held to identify the existing hurdles and way forward to have mutually beneficial trade and investment. 

Ambassador Prof. Pyakuryal also revisited the status of commitment done by Sri Lankan investors during investment Summit in Nepal and assured them to facilitate officially and personally if they need any assistance in that regard. 

The appraisal of some binding constraints to trade and investment in the interaction is supposed to help in designing the structure and content of future agreements. There has been a series of requests for meeting and discussions proposed by the participants to further enrich the engagements.