Some 17 reputed private sector investments which have originated from the Flanders region of Belgium, are currently operating in Sri Lanka. Further, Flemish investors are "interested" in exploring additional investments opportunities, particularly in the local Small and Medium Enterprise (SME) sector, according to Claire Tillekaerts, Acting Chief Executive of the Flanders Investment and Trade (FIT) agency.
The Flanders region encompasses Belgium's capital city, Brussels, and is responsible for 82% of the nation's total exports.
Ms. Tillekaerts made these comments at the "Doing Business in Sri Lanka" seminar organised by her agency in Brussels recently. Held to coincide with a visit by the European Chamber of Commerce of Sri Lanka (ECCSL) business delegation to Brussels, the event featured a keynote address by Sri Lanka's Ambassador to Belgium, Luxembourg and the European Union (EU), Ravinatha Aryasinha, who led the ECCSL delegation.
According to Mr. Aryasinha, Sri Lanka's exports to the EU grew by 25.5% year-on-year for the first nine months of 2011, to US$ 2.6 billion, compared to US$2.1 billion for the corresponding period in 2010. The country's exports to Belgium increased by 41.4% year-on-year for the first nine months of 2011, to US$ 382.5 million, compared to US$ 270.6 million for the corresponding period in 2010. This ranked Belgium as Sri Lanka's fourth largest export destination in the EU and its sixth in the world.
He also went on to add that Sri Lanka’s imports from the EU had also risen by 20.2% year-on-year for the first nine months of 2011, to US$ 1.3 billion, compared with US$ 1.1 billion during the corresponding period in 2010. With imports from Belgium, which is Sri Lanka’s 16th largest supplier, its fourth largest amongst EU countries, having grown by 52.3% year-on-year over the first nine months of 2011, to US$ 292 million, compared to US$ 191.7 million for the corresponding period in 2010.
Also commenting on Foreign Direct Investment (FDI), Mr. Ariyasinha indicated that EU investment in Sri Lanka over the first half of 2011 equalled US$ 52 million, which was 13% of the total FDI attracted by the country. Of this, Belgium was the second largest source of investment from EU member countries, accounting for US$ 11.2 million of FDI invested domestically.
(JH) |
E-mail
