Tuesday Jun 23, 2026
Tuesday Jun 23, 2026
Tuesday, 23 June 2026 06:17 - - {{hitsCtrl.values.hits}}
Sri Lanka and Thailand are looking to leverage the recently concluded Sri Lanka–Thailand Free Trade Agreement (SLTFTA), stronger business-to-business engagement, and their strategic positions as gateways to South and Southeast Asia to significantly deepen bilateral trade and investment ties, speakers said at the Silver Jubilee celebrations of the Sri Lanka–Thailand Business Council.
Marking its 25th anniversary, the Council brought together government officials, diplomats and business leaders who highlighted both the progress achieved over the past quarter century and the untapped opportunities that remain between the two economies.
Thailand’s Ambassador to Sri Lanka Paitoon Mahapannaporn, noted that bilateral trade has gained considerable momentum in recent years, with trade volumes increasing by about 48%, while investment links between the two countries have become well established.
He pointed to Thailand’s largest investment in Sri Lanka through INSEE Cement, part of Siam City Cement, and Sri Lanka’s largest investment in Thailand by Hayleys Group, as examples of the growing economic relationship.
However, Mahapannaporn argued that one of the key barriers to stronger economic expansion remains the limited familiarity between the two business communities.
“The challenge that hinders our economic expansion is that our business sectors know each other too little, leading to lack of trust and confidence,” he said, stressing that direct engagement through trade missions, business forums and site visits is essential to building stronger commercial relationships.
To address this gap, the Royal Thai Embassy facilitated a 27-member Thai business delegation comprising representatives from the Thai Chamber of Commerce and Industry and the Board of Trade of Thailand to visit Sri Lanka for business forums, matchmaking sessions and corporate site visits.
The Ambassador identified the implementation of the Sri Lanka–Thailand Free Trade Agreement as a major catalyst for future growth, saying it would help boost trade and investment while integrating both countries more deeply into regional supply chains.
Foreign Employment and Tourism Minister Vijitha Herath said the Government is committed to expanding the long-standing economic, cultural and historical relationship between the two countries in line with emerging global trends.
He highlighted opportunities in trade, tourism, transport and logistics, technology and sustainable development, emphasising that continued cooperation and mutual trust would be critical in unlocking future growth.
“The steadily growing import and export trade volumes between the two countries year-after-year are a clear indicator of the progress achieved jointly,” Herath said.
The Minister also praised the Sri Lanka–Thailand Business Council for serving as a practical bridge between entrepreneurs and businesses in both countries, helping create opportunities that previously did not exist.
Business leaders echoed the view that the next phase of bilateral cooperation should extend beyond traditional trade sectors.
In his address, the Sri Lanka–Thailand Business Council President Rizan Nazeer reflected on the organisation’s evolution since its establishment in 2001, noting that it was formed through the initiative of the then Thai Ambassador and a group of Sri Lankan business leaders who saw the potential for closer economic cooperation.
Over the past 25 years, the Council has facilitated trade missions, business forums, investment discussions and networking initiatives aimed at promoting trade, investment, tourism and business partnerships.
Among its milestones were the 2009 “Opening New Vistas” business forum in Thailand, the signing of a Memorandum of Understanding (MoU) with the Board of Trade of Thailand in 2022, and the visit of the Chairman of the Board of Trade of Thailand to Sri Lanka in 2023.
The Council President said significant opportunities exist in tourism and hospitality, food processing, agriculture, logistics, gems and jewellery, apparel, rubber-based products, technology, education, wellness and professional services.
He also welcomed a 25-member Thai business delegation participating in business-to-business meetings in Sri Lanka, expressing confidence that the engagements would lead to new partnerships, investments and trade opportunities.
Thailand’s senior trade representative, meanwhile, underscored the strategic importance of both countries as regional gateways, describing Sri Lanka as Thailand’s gateway to South Asia and Thailand as Sri Lanka’s gateway to Southeast Asia.
She noted that in an increasingly interconnected global economy, resilient supply chains and trusted partnerships are becoming more important than ever.
Reflecting on the 70th anniversary of diplomatic relations celebrated in 2025 and the Council’s Silver Jubilee this year, she said the two countries should now focus on expanding cooperation in goods, services, investment and people-to-people exchanges.
Speakers throughout the event emphasised that centuries-old cultural, religious and historical ties continue to provide a strong foundation for economic cooperation, while the SLTFTA and increasing private-sector engagement are expected to open a new chapter in Sri Lanka–Thailand relations.
The Silver Jubilee celebrations concluded with a shared call for deeper economic integration, stronger regional connectivity and enhanced business collaboration as both countries seek to position themselves more effectively within Asian and global value chains.
- Pix by Daminda Harsha Perera
