Global & International Business
View all(49)📈 NCE Expands Global Network with 21 Foreign MoUs to Boost Exporters
• Strategic MoUs & Network: National Chamber of Exporters of Sri Lanka (NCE) expands its global footprint by signing 21 MoUs with trade bodies across Australia, Canada, China, India, Italy, UK, US, and others. The latest partner is the Indian Chamber of Commerce (ICC). • Key Initiatives: Chamber facilitates B2B meetings, trade delegations, and market intelligence exchanges. Upcoming business delegations planned for India and Italy. • H1 2026 Country Growth: • India: US$ 688.47 Mn (+36.16% YoY; June spike of +156.73%) • Italy: US$ 337.20 Mn (+6.58% YoY) • China: US$ 159.22 Mn (+19.56% YoY) • Australia: US$ 135.86 Mn (+9.89% YoY) • Belgium: US$ 120.36 Mn (+4.72% YoY) • Japan: US$ 104.20 Mn (+15.74% YoY) • Other June Spikes: Türkiye (+74.37%), Mexico (+42.86%) • National Export Totals: H1 2026 merchandise exports reached US$ 6.9 Bn (+6.3% YoY), while total national export earnings grew +3.3% YoY to US$ 10.4 Bn.
Sri Lanka–India Integration Demands Political Will & Institutional Reform 📈
A high-powered panel at the _India Calling_ forum emphasized moving beyond traditional trade to deep economic integration through supply chains, services, and investments. • Key Structural & Political Priorities: • Need for political champions, research-backed strategy, and negotiating talent to push second-generation FTAs (ETCA). • Overcoming institutional silos, vested interests, and five-year political cycle disruptions to build policy continuity. • Elevating public sector remuneration to attract top expertise and retain institutional memory. • Trade & Currency Realignment: • Calls to establish a direct INR–LKR settlement mechanism to bypass US Dollar intermediate conversions, lowering transaction costs and easing foreign exchange pressure. • Transitioning from "Made in Sri Lanka" vs "Made in India" to joint production networks targeting broader regional markets (e.g., BIMSTEC, Indian Ocean). • Sectoral & Economic Impact: • Upgrading trade frameworks benefits key growth areas like tea, apparel & textiles, logistics, renewable energy, tourism, and digital services. • Historical Indo-Lanka FTA drove Sri Lankan exports from $50M to $550M within 5 years, highlighting the potential for current integration effort.
🇯🇵 Japan Grants Rs. 591 Mn for Sri Lanka Public Sector Capacity Building 🤝
• Financial Package: JPY 282 million (approx. Rs. 591 million) provided as grant assistance under Japan's Human Resource Development Scholarship (JDS) project. • Key Highlights: - Funds 15 young public sector officials to complete 2-year Master’s degree programs at Japanese universities starting in 2027. - Focus areas include public policy, international relations, macroeconomics, public finance, investment management, and industry development policy & investment promotion. - Agreement formalised via exchange of notes between Japanese Ambassador Akio Isomata and Treasury Secretary Dr. Harshana Suriyapperuma. • Strategic Impact: - Aims to build leadership capabilities, enhance individual and institutional capacities, and support national economic development. - Strengthens bilateral Sri Lanka-Japan diplomatic, professional, and institutional networks. - Expands on JDS legacy in Sri Lanka, which has empowered 254 public officers since 2010.
🇮🇳 India Marks 80th Independence Day with Cultural & Bilateral Events in Sri Lanka
• Diplomatic Highlights: High Commissioner Santosh Jha hoisted the Indian Tricolor at India House, Colombo, as part of the global _Suryapath Tiranga_ relay. Homage was paid at the IPKF Memorial to honor fallen Indian soldiers. • People-to-People Ties: Record participation by Sri Lankans in the special edition of the _Bharat ko Janiye_ (Know India) Quiz. The top local winners were felicitated at the main celebration. • Cultural Initiatives: Events included art workshops (Madhubani and Warli), the India-Sri Lanka Maitri Painting Competition, and the India Through My Lens photography contest. • Public Engagement: Celebrations featured the "Swar Sangam" musical fusion concert with Veena Maestro Rajhesh Vaidhya and Sri Lankan artist Yohani, alongside India Fest 2026 at Havelock City Mall showcasing fashion, cuisine, and handicrafts. Special events were also held in Kandy, Jaffna, and Hambantota.
📈 Sri Lanka-China Business Council Marks 25 Years, Urges Balanced Trade & Investment
The Sri Lanka-China Business Council (SLCBC) celebrated its 25th anniversary, focusing on deepening bilateral trade, addressing the longstanding trade imbalance, and boosting investment into Sri Lanka. • Key Priority Areas & Reforms Free Trade Agreement (FTA): Push to restart negotiations on the proposed Sri Lanka-China FTA. Tariff Rationalization: Sri Lanka plans to remove para-tariffs (CESS and PAL) by 2029 to enhance competitiveness and open markets. Trade Imbalance: Focus on reducing the import-export gap by expanding market access for Sri Lanka's key exports to China, particularly tea, gems, rubber, and spices. • Investment & Future Growth Sectors Key Industries: Calls for Chinese investment in value-added manufacturing, renewable energy, tourism, logistics, digital economy, and modern agriculture. Partnerships: Emphasis on joint ventures with local Sri Lankan businesses and expanding access for small and medium-sized enterprises (SMEs) in emerging areas like AI and digital trade. Frameworks: Strengthening risk management, transparency, and business facilitation mechanisms for long-term economic recovery.
Sri Lanka & Japan Boost Cooperation in Digital Transformation and AI 📈
• High-Level Engagement: The Ministry of Digital Economy held discussions with a Japan International Cooperation Agency (JICA) delegation to expand bilateral partnership in digital transformation and artificial intelligence. • Digital Broadcasting Infrastructure: Key focus was given to accelerating the Digital Television Project and exploring local production of Set-Top Boxes to bolster domestic manufacturing and reduce import dependency. • AI Infrastructure & Capacity: Both sides discussed setting up a National AI Data Centre for Sri Lanka's future AI infrastructure, alongside joint capacity-building initiatives, tailored AI solutions, and international technical knowledge exchange.
📈 Urgent Call to Fill Key Diplomatic Vacancies in US and China
General Secretary of the BRICS Chamber of Commerce, Kosala Wickramanayake, has issued an open letter to President Anura Kumara Dissanayake and Foreign Minister Vijitha Herath calling for immediate envoy appointments to Beijing and Washington D.C. • China Vacancy (Strategic Gap): The Ambassador position in Beijing has been vacant for over six months. China is Sri Lanka’s second-largest economy partner and a crucial player in debt restructuring, infrastructure, and foreign direct investment. • US Vacancy (Critical Export Market): The US is Sri Lanka’s largest single export market, absorbing nearly 30% of Sri Lankan goods. Prompt representation is vital to secure market share, advance IMF engagement, and support sectors like export trade and apparel & textiles. • Proposed Actions: • Concurrently nominate ambassadors for both capitals within 30 days. • Select envoys with commercial credibility and diplomatic acumen over political seniority to drive economic recovery.
📈 Sri Lanka Resumes Australia 'Invest Sri Lanka' Forums After 9 Years
• Overview & Events: The Securities and Exchange Commission (SEC) and Colombo Stock Exchange (CSE) are hosting the 'Invest Sri Lanka' Investor Forums in Sydney and Melbourne from 17th to 20th August 2026. This marks the first Australian roadshow since 2017, targeting institutional investors and the diaspora. • Market Growth & Valuation: The All-Share Price Index (ASPI) expanded by 360% (CAGR of ~28.98%), surging from 4,846 points in May 2020 to 22,310.80 points by May 2026. Sri Lanka’s market Price-to-Earnings (P/E) ratio stands at 11.20x— Asia's 2nd lowest. • Australian Inflows & Inbound Remittances: Following the 2017 forum, Australian buy turnover rose over 700% from LKR 72.9mn to LKR 603.8mn in six months. By end-2025, buy turnover hit Rs. 1.85 bn, establishing Australia as a top-10 source for foreign market inflows and diaspora remittances. • Key Stakeholders: Key participants include the capital markets, banking sector (Platinum sponsor HNB Group), real estate & infrastructure (CHEC Port City Colombo), and the Board of Investment (BOI).
🇷🇺 Russian Construction Giant NOSTROY Visits Sri Lanka to Boost Bilateral Links 📈
A 24-member business delegation from Russia’s National Association of Builders (NOSTROY)—representing over half of Russia's construction companies—visited Sri Lanka from 22–25 July to explore trade, investment, and labour mobility. • Key Discussion Areas: • Infrastructure & Urban Development: Discussions held with the Ministry of Transport, Highways & Urban Development, Urban Development Authority (UDA), and Board of Investment (BOI). • Tourism: Strategic talks on foreign investment in hotel development and tourism infrastructure via SLTDA and BOI. • Foreign Employment: Bilateral talks with the Sri Lanka Bureau of Foreign Employment (SLBFE) to secure job opportunities for qualified Sri Lankan construction professionals in Russia. • High-Level Engagement: • Delegation led by NOSTROY Vice President Anton Moroz. • Met with Foreign Affairs, Foreign Employment & Tourism Acting Minister Arun Hemachandra and Tourism Deputy Minister Prof. Ruwan Ranasinghe.
Port City Colombo Expands Regional Investor Outreach to Maldives 📈
The High Commission of Sri Lanka in the Maldives and CHEC Port City Colombo (Pvt) Ltd hosted the Port City Colombo Investor Forum on 10th August 2026 in Malé. The event targeted Maldivian business leaders, investors, and developers to promote cross-border investment and regional expansion across South Asia. • Key Highlights & SEZ Incentives: • Project Scope: 269-hectare master-planned city and Special Economic Zone (SEZ). • Ownership & Capital: 100% foreign ownership with full capital and profit repatriation. • Currency Flexibility: Facilitates transactions across 16 designated foreign currencies. • Regulation: Single-window regulatory framework managed under the Colombo Port City Economic Commission Act 2021. • Banking & Strategic Presence: • Direct presence of Sri Lankan banks in the Maldives—including Bank of Ceylon, Commercial Bank of Ceylon, and Hatton National Bank—supports seamless transaction gateways. • Commercial Bank of Ceylon has opened a physical branch inside the SEZ to service investors directly. • Regional Strategy: • Follows similar investor outreach forums held in Singapore, the UAE, and Oman earlier this year. • Aims to move bilateral ties with the Maldives beyond traditional tourism and trade into high-value investment, innovation, and commercial partnerships.
📈 Sri Lanka and EU Hold Ministerial Investment Dialogue to Drive Reforms
• Key Objective & High-Level Engagement: The Government of Sri Lanka and the European Union (EU) convened a ministerial-level Investment Dialogue at Shangri-La Colombo on 31 July 2026. The session aimed to sustain investor confidence, enhance policy consistency, and expand economic cooperation under Sri Lanka's IMF-supported reform programme. • Regulatory & Policy Reforms: Following an independent Investment Climate Assessment, discussions focused on translating economic vision into practice through key reforms: - Implementation of a digital Single Window Investment Approval System - Introduction of the proposed Investment Protection Bill - Modernization of customs and industrial zones • Trade & Market Access: - Emphasized the critical importance of continued preferential market access under the EU GSP+ scheme, which expires on 31 December 2026. - Highlighted investment expansion opportunities via the EU’s Global Gateway strategy. • Key Participants: Represented by the Chairman of the Board of Investment (BOI), Deputy Ministers of Finance, Foreign Affairs, and Industries, alongside the EU Ambassador and Ambassadors of France, Germany, Italy, and the Netherlands.
📈 President Dissanayake Meets CCCC Delegation to Expand Port City & FDI Focus
• Key Discussions: President Anura Kumara Dissanayake met with a senior China Communications Construction Company Limited (CCCC) delegation led by Zhang Bingnan at the Presidential Secretariat to review ongoing and future development initiatives centered on Colombo Port City. • Sector Expansion: Citing high confidence in Sri Lanka's current economic policies, CCCC expressed interest in expanding foreign investment into key sectors including renewable energy, trade & logistics, and digital services to position the country as a regional hub. • Employment & Local Impact: CCCC committed to sourcing 90% of the workforce for its investment projects locally, supporting national employment and workforce development. • Key Attendees: The high-level meeting included Minister of Labour & Deputy Minister of Finance Dr. Anil Jayantha Fernando, Colombo Port City Economic Commission Chairman Harsha Amarasekera, alongside senior executives from CCCC and China Harbour Engineering Company (CHEC).