Financial Times

British firms mull investments in gem exports, infrastructure
By Duruthu Edirimuni
Executives of British companies who visited the island on a trade mission last week said they are exploring a range of business opportunities including gem exports through Internet marketing, an up-market restaurant and the Colombo south harbour.

Delegates of 18 British companies visited Sri Lanka on a trade mission organised by the London Chamber of Commerce and Industry. There were nine Sri Lankans in the trade mission who have established companies in the UK, which is the largest European investor in the country.

Mission organiser Claire Paye, Head of World Trade for the London Chamber, told The Sunday Times FT that the potential for peace in Sri Lanka brings with it the prospect of international investment and the development of necessary infrastructure to enable the country to advance commercially.

She said some companies are looking at major infrastructure opportunities, including Colombo southern port expansion project. Another firm, the Colombo Exchange Company, which provides money transfer services, is planning on investments in the leisure sector, she said.

Ravi Raveendran, Managing Director, Colombo Exchange Company said he is planning to start an up-market restaurant in Colombo with an investment of US$ 50,000. "We have also drawn up plans to export gems to the UK through Internet marketing," he said.

Paye said some delegates are seeking more business, identifying opportunities between the UK and Sri Lanka and also consolidating their existing relationships, while others came for familiarisation and market research purposes to identify new business prospects.

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