Global & International Business
View all(51)### 🤝 Sri Lanka and Malaysia Exchange Insights to Boost Public Digital Services
• Strategic Dialogue: On the sidelines of global AI and tech summits in Geneva, Switzerland, Dr. Hans Wijayasuriya (Chief Advisor to the President on Digital Economy) met with H.E. Mr. Datuk Abdul Halim bin Hamzah (Secretary-General of the Ministry of Communications of Malaysia). • Focus Areas: The bilateral meeting focused on a productive exchange of strategic approaches and experiences to enhance and deliver high-quality public digital services. • National Context: The collaboration underscores Sri Lanka's ongoing emphasis on strengthening its ICT/BPM and digital infrastructure frameworks through international knowledge sharing.
🇮🇳🇱🇰 Indian Export Delegation Drives B2B Connections with Sri Lankan Businesses
A 31-member business delegation from the Federation of Indian Export Organisations (FIEO) engaged with local businesses and SMEs at a B2B and networking session hosted by the Ceylon Chamber of Commerce from July 8–10, 2026. • Strategic Collaboration: Organized in partnership with the Indo Lanka Chamber of Commerce and Industry (ILCCI) to foster stronger direct trade ties and commercial linkages between India and Sri Lanka. • Diverse Industry Focus: The Indian delegation comprised Small and Medium Enterprises (SMEs) spanning critical economic sectors, including pharmaceuticals, engineering goods, apparel and textiles, food and agricultural products, and infrastructure. • Key Objectives: Focused on identifying mutual sourcing opportunities, exploring market expansion, and establishing long-term regional partnerships. • Impact for Sri Lanka: Provided Sri Lankan companies and SMEs direct market access to Indian counterparts, creating avenues to diversify trade relationships and explore fresh commercial possibilities.
📈 ExpoNavigator Program Boosts Eastern Province Export Readiness
The Sri Lanka Export Development Board (EDB), International Finance Corporation (IFC), and the European Union (EU) concluded the 7th Provincial ExpoNavigator Programme in Batticaloa to enhance SME competitiveness under the Sri Lanka Export Excellence Initiative (SLEEI) 2026. Key Figures & Regional Context • GDP Contribution: The Eastern Province currently contributes approximately 5% to the national GDP, with a strategic target to reach 8% by 2030. • Export Representation: The province remains significantly underrepresented, accounting for less than 1% of registered exporters in Sri Lanka. • Program Impact: Nearly 100 export-potential entrepreneurs from the region participated in technical consultations and business advisory services. Sector & Sectoral Highlights • High-potential regional growth sectors identified include agriculture, fisheries, food processing, coconut-based products, spices, and manufacturing value-added industries. • Focused assistance was provided in branding, packaging, quality standards, certification, market intelligence, and access to finance to help transition local businesses into global value chains. Strategic Alignment • The initiative aligns with Sri Lanka's upcoming National Export Development Plan (NEDP) 2026–2029, focusing on expanding the exporter base via regional, youth, and women-led innovative SMEs. • The programme has now expanded across seven provinces: Western, North-Western, Northern, Southern, Sabaragamuwa, Uva, and Eastern Provinces.
📈 Australia Backs Sri Lanka’s RCEP Bid, Urges Border Digitalisation
Australia has reaffirmed its support for Sri Lanka’s ambition to join the Regional Comprehensive Economic Partnership (RCEP), the world's largest free trade agreement, while emphasizing the need for rapid domestic trade reforms. • Trade Policy & RCEP Integration: High Commissioner Matthew Duckworth described RCEP as crucial economic architecture for the Indo-Pacific that will simplify rules of origin, lower customs barriers, and integrate Sri Lanka into regional supply chains. The private sector, via the Sri Lanka Shippers’ Council (SLSC), was urged to counter protectionist resistance and back these reforms. • Digitalisation & Competitiveness: Australia strongly advocated for the full digitalisation of Sri Lanka’s trade and border procedures. This aligns with national digital economy goals to enhance transparency, improve efficiency, and reduce corruption opportunities. • Maritime & Port Logistics: The strategic importance of the Port of Colombo as a premier transshipment hub was highlighted, noting its capacity to handle ultra-large container vessels. Maritime cooperation remains central to the bilateral relationship, spanning port security and hydrography. • Bilateral Trade & Supply Chains: Australia exports approximately US$ 120 Mn worth of lentils to Sri Lanka annually. Sri Lanka acts as a critical hub in this regional chain by processing and re-exporting these lentils to around 25 countries.
📈 AmCham Sri Lanka Strengthens US–Sri Lanka Trade Ties at Washington Doorknock 2026
The American Chamber of Commerce in Sri Lanka (AmCham Sri Lanka) successfully represented member interests at the AmChams of Asia Pacific (AAP) Washington Doorknock 2026, held in Washington, D.C., from 21–24 June 2026. Led by President Sandun Hapugoda and Board Director Saneth Gamage, the delegation engaged directly with US policymakers to advance bilateral trade, investment, and economic cooperation. Key Highlights & Outcomes: • Trade & Policy Progress: The delegation advocated for the early conclusion of the US–Sri Lanka bilateral trade agreement. Discussions indicated that negotiations are progressing positively, aiming to bring greater certainty for Sri Lankan exporters, particularly in the apparel & textiles industry. Clarity was also sought regarding the Section 301 investigation affecting Sri Lanka’s manufacturing sector. • Investment & Development Finance: The mission explored enhanced US investment into Sri Lanka. High-level talks with the US International Development Finance Corporation (DFC) focused on securing private-sector backing for critical national areas, including infrastructure, energy, supply chains, financial services, and ICT/BPM drivers like digital connectivity and artificial intelligence. • Strategic Positioning: The delegation positioned Sri Lanka as a trusted, strategic partner within the Indo-Pacific, emphasizing ongoing commitments to improving the investment climate, ease of doing business, and rule-of-law reforms. • Member-Driven Insights: The advocacy positions were backed by six months of extensive local member consultations addressing tariff uncertainties, regulatory predictability, and market access challenges within the US–Sri Lanka commercial corridor.
📈 Global Economic Strains: IEA, IMF, WBG, and WTO Coordinate Response
Heads of major global institutions met to assess the energy, trade, and economic impact of the war in the Middle East, focusing on vulnerable countries and international trade resilience. • Overall Impact: The global economy has shown broad resilience, though the impact remains highly uneven. Some economies are facing growth slowdowns and heightened inflation, leading to ongoing concerns about price stability and growth. • Energy & Commodities: Fuel and fertilizer prices dropped through June, but energy markets and the transit of goods face continued strains. High uncertainty remains regarding long-term market stability. • Trade & Logistics: Restoring security in the Strait of Hormuz and maintaining global freedom of navigation are critical priorities. Structural recommendations emphasize the need for enhanced port infrastructure, trade facilitation, and supply chain resilience. • Institutional Next Steps: The organizations will closely monitor developments, adapt country-specific support, and work to strengthen national resilience across energy, food, and trade sectors.
📈 UAE Leads Port City Colombo Investor Interest; South Asian Gap Identified
• Top Investor Markets: The UAE currently dominates foreign investor interest in Port City Colombo at 19%. This is followed by Singapore, China, and the UK at 13% each, the US at 10%, and Australia at 9%. • The South Asian Gap: Despite geographic proximity and regulatory advantages, South Asian countries—particularly India—are notably absent from the top investor list. Project officials highlight this as a primary growth opportunity to attract businesses looking for internationally competitive platforms closer to home. • SEZ Regulatory Perks: Operating as a ring-fenced Special Economic Zone (SEZ), Port City Colombo offers streamlined single-window approvals, unrestricted foreign ownership, enhanced capital mobility, transactions in 16 designated foreign currencies, and the ability to remunerate employees in foreign currency. • Strategic Shift: Aiming to compete with established hubs like Dubai and Singapore, the development represents a shift beyond traditional property developments to attract financial services and regional headquarters. Qualifying businesses also gain access to Sri Lanka’s network of 44 double taxation agreements.
📈 Developing Asia Leads Global FDI; South Asia Growth Driven by India
• Overall Figures: Developing Asia remained the world's largest foreign direct investment (FDI) destination in 2025, receiving US$ 644 Bn. This accounted for roughly 40% of global FDI and over 70% of total flows into developing economies, based on UNCTAD's World Investment Report 2026. • Subregional Shifts: While inflows declined in East Asia, they surged in South-East Asia, South Asia, West Asia, and Central Asia. South-East Asia emerged as the largest subregional recipient, while South Asia's growth was heavily driven by a 44% spike in FDI inflows into India. • Sector & Industry Focus: Global greenfield investments are rapidly shifting toward strategic sectors like semiconductors, digital infrastructure, artificial intelligence, advanced manufacturing, and energy-transition technologies—together commanding 44% of global greenfield investment in 2025 (up from 16% five years ago). • Market Realities: Concentration remains high, with eight of the top ten developing-economy FDI recipients located in Asia, commanding over 80% of regional flows. High-value sectors continue to see shifts; China's inflows softened from US$ 116 Bn to US$ 105 Bn, though it retained strong commitments in high-value R&D and pharmaceutical manufacturing. • National & Policy Context: In an increasingly competitive landscape, policymakers must shift from mere incentives to improving investment facilitation, domestic supplier ecosystems, reliable energy, logistics, and workforce skills to effectively link FDI to industrial upgrading and employment.
🍁 Canada-Sri Lanka Ties Strengthen as CanCham Marks 159th Confederation Anniversary
The Canadian Chamber of Commerce in Sri Lanka (CanCham Sri Lanka) celebrated Canada Day, highlighting a strong focus on trade, investment, and positioning Sri Lanka within Canada’s massive CAD 500 Bn, 10-year Indo-Pacific engagement strategy. • Bilateral & Regional Trade: Canadian High Commissioner Isabelle Martin noted rising investor interest in Sri Lanka following its economic recovery, emphasizing that chambers are vital to translating Indo-Pacific policies into practical economic partnerships. • Strategic Sector Focus: A dedicated panel addressed resilient value chains across energy, manufacturing, tourism, and technology/ICT. A newly drafted Five-Year Strategic Tourism Development Plan was presented, with finalization expected within 60 days to boost investment and marketing linkages. • Chamber Milestones & Future Plans: Established on December 21, 2025, CanCham has expanded via partnerships in global health and education. Upcoming initiatives later this year include: A business delegation to Toronto, Montreal, and Vancouver targeting real estate, fintech, education, and tourism. Launching scholarships for low-income students. A climate-focused sustainable development forum in early 2027.
🤝 Sri Lanka & Pakistan Agree to Boost Bilateral Trade and Investment
Sri Lanka and Pakistan have reached an agreement to expand trade, promote investments, and enhance entrepreneurship cooperation following high-level discussions between Industries Minister Sunil Handunneththi and Pakistan High Commissioner Dr. Nayyar Naseer. • Key Trade Initiatives: Focused on reversing the recent decline in Sri Lankan tea exports to Pakistan. Efforts are also underway to remove trade barriers to fast-track the launch of Sri Lankan pineapple and avocado exports to the Pakistani market. • Technology & Sector Exchange: Agreed to launch technology exchange programs in the gem & jewellery sector via the National Gem and Jewellery Authority. • Entrepreneurship & Networking: Planned exchange programs through the Entrepreneurship Development Authority targeting Pakistan’s Punjab and Karachi regions. The Export Development Board (EDB) will also support a special business forum in Pakistan to connect Sri Lankan exporters directly with Pakistani buyers. • Investment Opportunities: Discussions highlighted plans to further scale up Pakistani investments specifically targeting Sri Lanka's pharmaceutical manufacturing sector.
🤝 Sri Lanka Marks 75 Years of Colombo Plan with Commemorative Stamp
• Overview: The 75th anniversary of the Colombo Plan was celebrated on July 3, 2026, at the Galle Face Hotel, Colombo. The event was attended by Prime Minister Dr. Harini Amarasuriya and Foreign Affairs and Foreign Employment Deputy Minister Arun Hemachandra as the Guest of Honour. • Key Highlights: A commemorative stamp was unveiled to mark 7.5 decades of regional cooperation, enduring friendship, and shared development among member countries. • Economic & Social Impact: Deputy Minister Hemachandra emphasized the organization's long-standing contribution to human resource development, education, technical cooperation, and capacity building across the Asia-Pacific region. • National Context: Sri Lanka reaffirms its commitment to the Colombo Plan as a vital platform for international collaboration, fostering knowledge, skills, and people-centered development to enhance the prosperity of future generations.
📈 Sri Lanka’s "Mahaweli Doctrine": Water & Foreign Policy for National Renaissance
An essay exploring Sri Lanka's historical hydraulic civilisation proposes using the Mahaweli Doctrine as a metaphor for modern multi-alignment diplomacy, economic connectivity, and domestic growth. • Core Philosophy: Proposes that water, commerce, and diplomacy are inseparable. Just as ancient rulers linked the Mahaweli River system to ports for regional trade, modern foreign policy must connect local villages to global markets rather than opting for isolation. • Historical Precedents: - King Parakramabahu I used surplus agricultural production from Polonnaruwa to boost trade through the Trincomalee harbor (Gokanna). - The ancient port of Mantai in Anuradhapura acted as a major hub for Indian, Persian, Arab, and Chinese trading networks. - The Kingdom of Kotte and the later Hamilton Canal connected inland producers (Negombo, Chilaw, Puttalam) to maritime commerce. • Strategic Framework: - Recommends a pragmatic strategy of multi-alignment rather than traditional non-alignment, building constructive ties with the US, China, India, Europe, Japan, ASEAN, the Middle East, and Africa. - Suggests utilizing the existing Grama Niladhari (village officer) network to align local production with national economic and foreign policy objectives. - Advocates for incorporating agriculture, tourism, education, technology, and entrepreneurship directly into the national diplomatic strategy.