Sri Lanka – Greater Mekong Business Council of Ceylon Chamber of Commerce holds 11th AGM

From left: Shameel Mohideen, Kamal Dhammika Wimalaratne, Jude Fernando, Ranil Seneviratne, Nimal Ratnayake, Minister Counselor Arthit Prasartkul, S.M.D. Suriyakumara, Ho ThiThanhTruc, Sirimal Fernando, Mahen Weerasekara, Nishantha Seneviratne, Tilak Gunawardane and Yashodha Gamage

The Sri Lanka - Greater Mekong Business Council of the Ceylon Chamber of Commerce held its 11th Annual General Meeting recently at the Hilton Residences, Colombo 02. Vietnam Ambassador Ho Thi Thanh Truc and Royal Thai Embassy in Sri Lanka Minister Counsellor Arthit Prasartkul graced the event as the Chief Guests. 

Council President S.M.D. Suriyakumara gave his speech, stating that: “We are facing an economic crisis in Sri Lanka, resulting in shortage of basic requirements like food, medicine, gas etc. We are experiencing this for the first time even though there are many countries that have experienced a similar economic crisis in the past and overcame those situations. 

“As Sri Lankans, we have gone through hard times but we are quite capable of overcoming them. We should make this an opportunity as citizens and as a whole nation to overcome this crisis. Many Sri Lankans are getting used to changing their lifestyle and finding new ways of living and earning. As a council, if we can bring contributions through investments, and opportunities encouraging tourism, that is what as a Council we can do at this moment since it is what the country needs. 

“We have imported and exported $ 7.5 million and $ 2.3 million  worth of goods from Myanmar respectively. Also, we have imported and exported $ 397 million and $ 51.6 million  worth of goods from Thailand. Furthermore, we have exported and imported goods worth of $ 397 million and $ 62.88 million  from Vietnam. 

“According to the figures, from Cambodia we have imported $ 2.84 million and exported $ 3.14 million  worth of goods. From Laos, we have imported 

$ 1.43 million and exported $ 0.14 million  worth of goods. We must try to narrow down that gap in exports and imports. That’s what the solution we can contribute as a Council.”

During the year, the Executive Committee made a courtesy call to visit the newly appointed Vietnam Ambassador Ho Thi Thanh Truc and made a visit to meet the Ambassador Designated of Thailand to Sri Lanka in April and October 2021 respectively. During these visits, the Council discussed many issues related to procedures pertaining to the trade and visa matters. 

While congratulating the newly appointed Committee, Vietnam Ambassador Ho Thi Thanh Truc began her speech stating these remarks.  “I am confident that your valuable contribution will help this Council and the Ceylon Chamber of Commerce achieve their future goals in the coming years. I would also like to thank the Ceylon Chamber of Commerce for inviting me to share some information with you about the opportunities for our two countries to collaborate further in terms of trade and investment. 

“Speaking about Vietnam, the implementation of the Doi Moi economic reform in 1986 was a critical factor in propelling the country onto a remarkable development path. Today, Vietnam's economy is a vibrant and dynamic one in the Asia-Pacific region, creating favourable conditions for both domestic and international businesses to thrive. Vietnam has numerous renewable energy potentials, including wind power, solar power and thermal power. 

“With the traditional Agri sector, the country has great potential of bio-mass sources for heating and electric power generation. In terms of trade and investment, Vietnam and Sri Lanka have many similarities that create a favourable environment for business people of both countries.

“Because of our strategic locations in each region, both countries have attracted the attention of the world's major powers. Both governments, on the other hand, advocate for private sector empowerment and a public-private partnership model for mutual development. Sri Lanka has also signed bilateral investment treaties with 28 countries and double taxation treaties with 38 countries, including Vietnam.”

She ended her remarks by stating: “I would like to take this opportunity to express my heartfelt appreciation and gratitude to the Sri Lanka Greater Mekong Business Council and the Ceylon Chamber of Commerce for their outstanding assistance in assisting local businesses to compete in domestic and international markets. 

“Over the years, fruitful events organised by the Ceylon Chamber of Commerce in collaboration with the Embassy of Vietnam provided both Sri Lankan and Vietnamese businessmen with promising business opportunities for foreign investments and aided in the development of favourable business links between our two countries.”

Royal Thai Embassy Minister Counsellor ArthitPrasartkul, mentioned that he commends the activities done by the Sri Lanka - Greater Mekong Business Council during the past year and invite the audience to take note of the event in which Thailand Ambassador Poj Harnpol gave a keynote address on Investment and Trade Opportunities in Thailand in March 2022. He also shared challenges faced by Thai businesses and their Sri Lanka counterparts in Sri Lanka.

Maliban Bio Ventures Chief Executive Officer S.M.D. Suriyakumara was elected as the President of the Council while Lanka Hospitals Corporation PLC Group Chief Marketing Officer Nimal Ratnayake, Astron Ltd. Chief Executive Officer Sirimal Fernando and Rhino Roofing Products Ltd. Director Jude Fernando elected as Vice Presidents. Ranfer Teas Ltd. Director Ranil Seneviratne will serve as the Immediate past President for the period 2022-2023.

The Committee appointed will be represented by the MAC Holdings Ltd., Advantis Projects and Engineering Ltd., Aitken Spence Travels Ltd., Spillburg Holdings Ltd. and Capitol Developers Ltd.