Business Times

GL leads a powerful delegation to Prague to promote investment

A high powered Sri Lankan delegation led by Foreign Minister Prof. G. L. Peiris will visit Prague on March 28 to promote trade and investment between the two countries. Sri Lanka and Czech Republic will enter into an agreement for the promotion and reciprocal protection of investment during Minister Peiris’ 2-day official visit,.

Czech diplomatic sources said. The Czech Republic is exploring the possibility of investing and providing technical know-how for hydro power, wind energy and solar power and water management projects in Sri Lanka.

The agreement will be signed by Prof. Peiris and the Minister of Finance of the Czech Republic Miroslav Kalousek. Meanwhile a 40-member delegation of Czech investors headed by Environment Minister of Czech Republic will visit Sri Lanka by mid April.

This is the result of an initiative taken by Miloslav Stasek, the newly appointed Czech Ambassador for Sri Lanka based in New Delhi. Czech diplomatic sources said that the new ambassador’s aim is to double the volume of bilateral trade between the two countries that stands at $50 million, within the next two years. The trade balance is heavily in favour of Sri Lanka at present as its exports to the Czech Republic is worth $40 million.

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