Business Times

Sri Lankan business mission to Singapore works out well

The recently concluded business mission to Singapore organized by IE [International Enterprise] Singapore, an agency under Singapore’s Ministry of Trade and Industry, tasked to promote international trade and external investment of Singapore, proved to be a success with over 160 large, medium and small scale Singaporean companies meeting with the Sri Lankan delegation, the participating Sri Lankan council said.

Led by the President of the Sri Lanka Singapore Business Council Shamil Mendis, Director -Delmege Group, the 14 member delegation had an extremely productive visit. Participants included the Governor Central Bank of Sri Lanka - Ajith Nivard Cabraal, Exeutive Director Board of Investment - Duminda Ariyasinghe, Asian Economist HSBC Global Research - Wellian Wiranto and Deputy CEO IE Singapore - Chua Taik Him, a statement said.

According to Mr Mendis, interest in Sri Lanka after the end of the war was heartening. “Amongst all participants the mood was buoyant and optimistic. The words of Mr Wellian Wiranto ‘peace is here to stay and dividends will soon be paid out’ expressed the sentiments of all those present,” he said.
Mr. Mendis said that while Sri Lankan companies have the potential to further increase its business in its present areas of exports to Singapore, there is significant potential to increase its cooperation with Singapore companies, in knowledge based industries, such as ICT and BPO.

He also emphasized that Singapore companies investing in Sri Lanka could make use of the country’s Free Trade Agreements with both India and Pakistan to enter or expand their market shares by making use of the preferential tariffs available.

Deputy CEO of IE Singapore, Chua Taik Him, reiterated the fact that Singapore’s business community welcomed the end of the war and looked forward to increased trade between Sri Lanka and Singapore.

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