Chengdu Chamber opens in Colombo

International Business Council President Kosala Wickramanayake (right) and Chengdu Association for Foreign Trade and Economic Cooperation Secretary General Chen  Xiao at the opening ceremony at Hilton Residence in Colombo on 19 November 

The Chengdu Association of Foreign Trade and Economic Cooperation (CAFTEC) opened its Colombo office at Hilton Residences (JAIC Hilton) on 19 November.

The opening of the CAFTEC Colombo office was a soft opening and the Colombo operations will continue from there, ushering in unprecedented economic and trade opportunities for Sri Lanka, a news release said.

The Chengdu Association was established by the Chengdu Municipal Chamber of Commerce in 2011 to establish two-way commerce between Chengdu enterprises to develop foreign markets and seek overseas opportunities. It also promoted foreign companies to do business in Chengdu.  

CAFTEC Secretary-General Chen Xiao remarked that the reason for opening the Colombo office was to promote Chinese investors to come into the Hambantota Industrial Zone and also to promote Sri Lankan exports to China.   

The CAFTEC Secretary General also said that there would be opportunities for the display of Sri Lankan products, particularly in the arena of tea, with a special emphasis on black tea, spices, coconut products and especially virgin coconut oil, apparel, rubber and rubber products, gems and jewellery and many other exportable products to China. CAFTEC will also assist Sri Lankan travel and tourism companies to attract Chinese tourists into Sri Lanka. Also moot in this context will be the Air China four-weekly nonstop direct flights from Chengdu to Colombo which will also buttress the tourism cause.    

Chengdu was also China’s leading destination for travellers in 2017, and also home to the Panda, which by itself is a tourist attraction. Chengdu is the fastest growing city in Sichuan Province and home to 350 Fortune 500-listed global corporates.

Meanwhile, International Chamber of Commerce President Kosala Wickramanayake said that Chengdu was one of the most dynamic and fastest growing areas in the world and it was up to Sri Lankan businessmen to synergise their growth opportunities there with the 20 million people there.   “We have been working closely with CAFTEC from 2015 and we have also signed an MoU in 2017. The opening of the Colombo branch office has also been a part of that initiative.” 

He also said that he had been taking Sri Lankan business delegations for the Chengdu Dialogue every year from 2017 and that the next parley would be held in Chengdu in September 2019.  

Sri Lankan businessmen will also have the opportunity to establish joint venture partnerships at that forum, he said.

He also noted that Sri Lankan business houses would be able to merge synergies with Chengdu businessmen as Chengdu was also on the ‘One Belt One Road’ route on the Yangtze River which is an open gateway to both Europe and Asia.