SL-Indian trade associations seek more biz post-COVID-19

Saturday, 23 May 2020 00:00 -     - {{hitsCtrl.values.hits}}

  • Increased engagement on trade, investment and tourism discussed 
  • Indian stimulus measures expected to drive demand for SL exports

Members of the Federation of Indian Export Organisations (FIEO), the Federation Chamber of Commerce and Industry Sri Lanka (FCCISL), and Colombo Chamber of Commerce (CCC) yesterday discussed ways to increase trade between Sri Lanka and India yesterday. 

FIEO organised an interactive video conference session with the participation of FCCISL and CCC to discuss trade and investment opportunities between the two countries post COVID-19, the Indian High Commission said in a statement. 

Officials from High Commission of India, Colombo and High Commission of Sri Lanka, New Delhi also participated in the discussion.

Noting the importance of growth of trade, investment and tourism between India and Sri Lanka, panellists from FIEO, FCCISL and Colombo Chambers discussed ways to develop new avenues for cooperation in the three sectors. With a focus on export oriented production, FCCISL and Colombo Chambers also highlighted the opportunities for investment in various sectors in Sri Lanka.

High Commission of India Head of Information Wing Neha Singh highlighted the need for the businesses of both countries to adopt innovative strategies to deal with the challenges presented by COVID-19. 

She noted that Governments of India and Sri Lanka are implementing measures to ease the challenges faced by traders such as acceptance of e-Certificates of Origin. President of FCCISL noted that the stimulus package of $265 billion announced by Prime Minister Modi in India would boost trade activities between India and Sri Lanka by revitalising demand.

The interaction ended with a question and answer session wherein Colombo Chamber of Commerce proposed to start an online mechanism with FIEO to respond to trade queries in real-time.