CanCham SL unveils strategy to deepen Canada-Sri Lanka economic ties

From left: CanCham SL Founder and Board Member Priyantha Chandrasekara, Founder and Board Member Mohammed Hameez, and Secretary General Nilupul De Silva 

– Pic by Shehan Gunasekera

By Michelle Therese Alles

The newly established Canadian Chamber of Commerce in Sri Lanka (CanCham SL) has unveiled a strategy to position Sri Lanka as a regional gateway for Canadian trade, investment, and Indo-Pacific engagement, while strengthening bilateral economic ties between the two countries.

Speaking at a special media briefing held at CanCham House in Colombo, CanCham SL representatives outlined a long-term vision centred on investment promotion, trade facilitation, tourism development, innovation, education, and strategic regional cooperation.

Operating under the patronage of the Canadian High Commission in Sri Lanka and with the approval of Global Affairs Canada, the Chamber said it aims to serve as a dynamic platform connecting Sri Lankan and Canadian enterprises while integrating Sri Lanka more actively into Canada’s expanding Indo-Pacific commercial strategy.

CanCham SL said it plans to actively engage in business networking forums, investment promotion activities, sector-focused programs, trade delegations, educational collaborations, women’s empowerment initiatives, youth and child development activities, and broader Indo-Pacific regional engagements in the coming months.

A major focus of the presentation was Canada’s growing strategic interest in the Indo-Pacific region and Sri Lanka’s potential role within that framework.

CanCham SL Secretary General/Executive Director Nilupul De Silva said the Chamber aims to function as a dynamic platform for strengthening trade, investment, tourism, innovation, and professional collaboration between Sri Lanka and Canada while supporting wider Indo-Pacific engagement. 

“The objective of today’s meeting is to provide an overview of the Chamber’s future direction, planned engagement, strategic partnerships, and priority sectors for business promotion between Canada and Sri Lanka,” she said.

De Silva also stressed the importance of regional cooperation through the wider Canadian chamber network operating across the Indo-Pacific, while acknowledging the role played by key Founding Members including Kuladhu Sellaththurai, Priyantha Chandrasekara, and Mohamed Hameez in establishing the initiative.

CanCham SL Founder and Board Member Mohamed Hameez said CanCham SL was formally established on 31 December 2025 amid Canada’s increasing regional engagement.

“Canada since of late has adopted a very strong Indo-Pacific policy and is vibrantly engaging with economies across the region,” he stated.

According to Hameez, the Chamber’s vision is to serve as “Canada’s strategic business bridge in Sri Lanka,” while strengthening bilateral economic relations and enhancing Sri Lanka’s positioning within the Indo-Pacific region.

He noted that the Indo-Pacific currently represents approximately 65% of the world’s population and is projected to account for more than 50% of global GDP by 2040, making it a key strategic focus for Canada’s future economic engagement.

CanCham SL Founder and Board Member Priyantha Chandrasekara revealed that they are working alongside a network of 21 Canadian chambers operating across the Indo-Pacific region, including South Asia, ASEAN economies, China, Japan, South Korea, Hong Kong, and Taiwan.

The panel highlighted the signing of a strategic Memorandum of Understanding (MoU) among partnering chambers in the region earlier this year, witnessed by Canadian Prime Minister Mark Carney.

During the briefing, Hameez said Canada plans significant investment engagement across the Indo-Pacific region over the next decade as part of its broader regional strategy.

The Chamber identified 14 priority sectors grouped under three key verticals: innovation and future technology, sustainable infrastructure, and human and social capital.

Priority sectors highlighted included financial services and venture capital, IT and enabled services, Artificial Intelligence (AI), agritech, fintech, edutech, renewable energy, export manufacturing, logistics, agriculture, food processing, higher education, health, sustainable tourism, and maritime industries.

The panel also pointed to emerging opportunities linked to Sri Lanka’s mineral resources, including graphite and titanium, particularly in relation to battery production and energy-related industries.

The Chamber additionally highlighted tourism and hospitality opportunities, including wellness tourism, boutique resorts, and maritime tourism initiatives leveraging Sri Lanka’s historic shipwreck sites as potential diving attractions.

The panel noted that Sri Lanka’s strategic location, existing regional trade agreements, Port City incentives, and access to Indo-Pacific markets provide significant advantages for Canadian businesses seeking regional expansion opportunities.

Hameez also stressed the importance of engaging the nearly half a million Sri Lankan diaspora living in Canada, which he described as one of the country’s largest overseas communities that could be engaged to the best effect for the economic revival of the country.

The Chamber said it aims to establish Sri Lanka as a vibrant regional headquarters within the South Asian region while facilitating market access and regional expansion for businesses.

According to figures shared during the briefing, total merchandise trade between Sri Lanka and Canada amounted to $ 606 million in 2024, with Sri Lankan exports to Canada reaching $ 91.44 million, largely driven by apparel and rubber-based products, while imports from Canada stood at $ 102.4 million. Officials noted that trade volumes had moderated compared to 2023 due to global economic conditions.

Responding to questions regarding Canadian investment in Sri Lanka, the panel identified Fairfax Holdings’ investments in the John Keells Group among the most notable Canadian-linked investments in the country in recent years.

Chandrasekara also announced plans to formulate a strategic five-year development roadmap in collaboration with public and private sector stakeholders, industry experts, and international partners.

The Chamber further revealed plans for several upcoming initiatives, including a Canada Day celebration scheduled for 1 July 2026 at the Cinnamon Grand Colombo under the patronage of the Canadian High Commissioner, as well as efforts towards future regional economic summits and strategic partnerships across North America and the Indo-Pacific region.

Officials said the Chamber currently has over 30 members, including several leading corporates, and has established a dedicated facilitation desk aimed at assisting companies with market intelligence, partnerships, trade coordination, and investment support.

“We wanted this message to be taken across to the business community, connect the business community with CanCham House in Colombo and help and assist our businesses to expand into the region, as well as expand their exports to Canada and other countries as well,” the panel concluded.