Sri Lanka’s Ambassador to Germany, T.B. Maduwegedera has urged German companies to invest in Sri Lanka, making the call at an investment promotion seminar in Frankfurt, organized by the Board of Investment of Sri Lanka (BOI) in collaboration with the Embassy of Sri Lanka in Berlin last week, according to a embassy press release.
He said many German companies operating in Sri Lanka are global leaders in their field and investment areas, which include apparel, hosiery knitwear, surf sails, textiles, electronic products, light/heavy engineering, rubber based products such as tyres and automobile spare parts, coir products, wooden/soft toys, chemicals, dyes, gems and jewellery, ceramics, tourism and recreational projects.
The investment promotion mission was supported by the Chambers of Commerce in Frankfurt, Munich & the German Pacific Business Association (OAV) as well as the Sri Lankan Consulate General in Frankfurt and the Sri Lankan Honorary Consulate in Munich. The main objective of this mission was to create greater awareness among German investors of Sri Lanka’s many advantages and facilities.
The Ambassador thanked Dr. Jurgen Ratzinger, Managing Director of the International Business of the Chamber of Commerce and Industry in Frankfurt for his strong support in promoting investment and business opportunities of Sri Lanka in Germany.
Executive Director/ Investment Promotion, Duminda Ariyasinghe who led the BOI team spoke on the topic ‘Investment Opportunities’ and emphasized that the GSP+ Scheme implemented by the European Union provides access for more than 7,200 products originating from Sri Lanka to be exported to the European Union at zero customs duty. He also said that Sri Lanka has a transparent and independent legal system and patents and royalties of companies are highly protected.