Tuesday Aug 26, 2025
Tuesday Aug 26, 2025
Tuesday, 26 August 2025 03:11 - - {{hitsCtrl.values.hits}}
The National Chamber of Exporters of Sri Lanka (NCE) has said it has entered into a partnership with the Federation of Indian Export Organisations (FIEO), marking a significant step toward strengthening bilateral trade and expanding export opportunities for Sri Lankan businesses.
Recognising the importance of closer regional collaboration, the NCE signed a Memorandum of Understanding (MoU) with FIEO, opening doors for enhanced cooperation between Sri Lankan and Indian exporters. This partnership is expected to create new opportunities for trade, knowledge-sharing, and capacity building, while also enhancing the international competitiveness of exporters in both countries, the chamber said in a statement.
The signing of this MoU was made possible with the valuable support and facilitation of the High Commission of India in Colombo, which continues to play an instrumental role in strengthening commercial and economic relations between the two nations, it said.
The NCE noted that India is one of Sri Lanka’s largest trading partners, with bilateral trade covering a diverse spectrum of goods and services including textiles and apparel, agricultural products, food and beverages, rubber-based products, machinery, ICT services, and more. Sri Lankan exporters benefit significantly from access to the vast Indian market, while Indian businesses continue to view Sri Lanka as a strategic gateway to South Asia and beyond.
Trade ties between the two countries are further underpinned by the India–Sri Lanka Free Trade Agreement (ISFTA), which was signed in 1998 and came into force in 2000. The ISFTA was the first bilateral free trade agreement signed by Sri Lanka, and it provides duty concessions and preferential market access for a wide range of goods. Over the years, the FTA has enabled thousands of product lines from both countries to enjoy tariff reductions or duty-free entry, facilitating greater trade volumes and encouraging cross-border investments.
Commenting on the partnership, NCE Presient Indhra Kaushal Rajapaksa said: “The signing of this MoU with FIEO marks a new chapter in strengthening trade relations between Sri Lanka and India. India is not only our closest neighbour but also one of our most important trading partners. By leveraging the India–Sri Lanka Free Trade Agreement, this partnership will enable our exporters to gain greater access to the Indian market while also creating new opportunities for collaboration in sectors of mutual interest. The NCE is committed to ensuring that our members take full advantage of these opportunities to enhance competitiveness and grow their businesses internationally.”
NCE Secretary General/CEO Shiham Marikar said: “This collaboration with FIEO provides a structured platform for Sri Lankan exporters to directly engage with their Indian counterparts. We see this not only as a gateway to increased trade but also as a means of fostering long-term partnerships, knowledge-sharing, and capacity building. The upcoming business delegation to India and the proposed Business Forum will be practical steps toward turning this MoU into tangible results for our members. We are deeply grateful to the High Commission of India in Colombo for their invaluable role in facilitating this partnership, which we believe will bring lasting benefits to both nations.”
As a practical step forward, the NCE, in coordination with FIEO, will organise a business delegation to India. The program will include a high-level Business Forum, designed to provide Sri Lankan exporters with a platform to connect with potential Indian partners, expand market access, and explore new opportunities in one of the fastest-growing economies in the world.
By leveraging the advantages of the India–Sri Lanka Free Trade Agreement and the institutional support of both NCE and FIEO, exporters on both sides stand to gain from deeper collaboration, ultimately contributing to the long-term economic growth of the region, the chamber said.
