Freeport Operators’ Association maiden AGM marks landmark step for logistics industry

The inaugural   Annual General Meeting (AGM) of the Freeport Operators’ Association was held at the Kingsbury Hotel Colombo on 19 May, marking a significant milestone for Sri Lanka’s logistics and freeport sector. The event was graced by a distinguished audience comprising senior Government officials, industry leaders, and member representatives.

Western Province Governor Hanif Yusoof, attended the AGM as the Chief Guest and Avery Denisson Sri Lanka Office General Manager Lakshitha Dharmawansa, as the Guest of Honour. Board of Investment Director General Renuka M. Weerakone, Treasury Director General Dr. Sulakshan Jayawadena and senior officials from the Export Development Board (EDB), including Priyadarshanie Hewawasam and Indumini Kodikara were also present.

In his keynote, Western Province Governor Yusoof, a seasoned logistics expert and a respected visionary, underscored the transformative potential of Sri Lanka’s Free Zone model. He emphasised the sector’s strategic role in driving economic development, job creation, and foreign reserve generation. Citing the country’s ongoing debt restructuring, he highlighted logistics and Freeport operations as key pillars to strengthening national reserves and pledged the Government’s continued support to develop the sector as a national priority.

Freeport Operators Association Honorary Secretary General Rohan Masakorala, a prominent advocate for the logistics industry, paid tribute to pioneers such as Tuli Cooray, Noel Priyathilaka, Ashroff Omar and treasury officials in 2013 who were instrumental in establishing the legal foundation for free ports in Sri Lanka.

He noted that logistics currently contributes just 2% to Sri Lanka’s GDP, compared to average over 12% in global logistics hubs like Singapore and Dubai — a gap the country must strive to close. He also addressed the lack of coordination between regulatory authorities, stressing the urgent need for a harmonised approach to support industry growth.

Avery Dennison Sri Lanka General Manager Lakshitha Dharmawansa, a long-standing client of the free zone, addressed the gathering as the Guest of Honour. He shared his organisation’s experience with the free zone over the years, highlighting its consistent support and efficiency. Dharmawansa particularly recalled how, during the pandemic, operations within the free port continued without disruption, ensuring an uninterrupted supply chain during an exceptionally challenging period. He further noted that his organisation recognises the numerous advantages of operating through Sri Lanka’s hubs and is actively exploring opportunities for further expansion.

Delivering the main address, Freeport Operators’ Association Chairman Priyantha Punchihewa, offered a compelling global outlook. He detailed how peers like Singapore and Dubai have rapidly advanced through well-structured Freeport strategies.

Singapore has over 900 weekly cargo flights to 90 cities, 2 million tons of cargo in 2024 with a projected 5 million by 2030. Dubai: 70% of GDP from non-oil sectors, 15 million TEUs handled at ports, 69 vessels docked daily at Jebel Ali, and 2.2 million tons of air cargo handled in 2024 (20% YoY increase).

He further highlighted emerging competition from Malaysia and Singapore’s joint Freeport initiative (projected to generate $ 30 billion by 2030), and India’s logistics expansion with developments like Vizhinjam Port. Countries such as Saudi Arabia, Qatar, and Egypt are also making bold legislative reforms to attract global logistics traffic.

In contrast, Sri Lanka’s Free Zone legislation, unchanged since 2012, was identified as a critical bottleneck. The Chairman stressed: “This is a matter of national urgency. We are losing ground to regional peers who are innovating faster and attracting global attention.”

While acknowledging the BOI’s support, he called for more consistent and urgent engagement on policy and operational matters and proposed a state-led global promotional campaign — in close collaboration with the EDB — to firmly position Sri Lanka as a logistics hub on the global stage. He reiterated the need to benchmark successful global models and modernise domestic legislation to match today’s dynamic trade landscape. The Chairman concluded by affirming: “With the right framework, Sri Lanka’s Freeport sector can become a cornerstone of our economy and a regional model of excellence.”

As part of the AGM proceedings, a new Executive Committee for 2025/2026 was elected. The newly appointed members will be responsible for shaping and executing a cohesive national strategy for Free Zone development. The Association’s primary goal is to promote and develop Sri Lanka’s Freeport and bonded operations into a globally competitive logistics and value-added hub through streamlining operations, attracting investments, and fostering an environment where trade facilitation is not hindered.

The evening concluded with a fellowship and cocktail reception, wrapping up a momentous event that reaffirmed the industry’s collective resolve to advance Sri Lanka’s logistics sector to global standards.

Executive Committee 2025/2026: 

Priyantha Punchihewa – Chairman (Hayleys Free Zone), Rohan Masakorala (Hon. Secretary General), Rananja Gonaduwa – Secretory (Expo Lanka), Indika Salgado – Treasurer (DGL Freeport), Ex-Co members Jeevantha Gunethilake (APL Logistics), Brian Schokman (APL Logistics), Danushka Jayasinghe (Freeport Connect Ltd.), Manaram Battaramulla (Freeport Connect Ltd.) Vajira Sampath (EFL), Samitha Silva (Glowbal Outlets), Ranjan Buell (Glowbal Outlets), Manokshi (DGL Freeport) and Asanka Wijesundara (Hayleys Free Zone).