Global & International Business
View all(46)Sri Lanka and Finland Formalize Political Consultation Mechanism 🤝
Sri Lanka and Finland held their second round of Bilateral Political Consultations in Helsinki on February 25, 2026, marking a significant milestone in their diplomatic ties established in 1954. • Strategic Partnership: The two nations signed a Memorandum of Understanding (MoU) to institutionalize a structured framework for regular political dialogue, aimed at elevating bilateral cooperation to new heights. • Economic & Sectoral Focus: • Discussions centered on expanding trade, investment, and tourism. • Emphasis was placed on private sector engagement and innovation-driven business partnerships. • Key priority areas identified include vocational education (VET), maritime sector (mutual recognition of seafarer qualifications), and meteorological data sharing. • Labor & Education Mobility: • Sri Lanka requested the establishment of a Visa Centre in Colombo to streamline processes for students and professionals. • Discussions focused on facilitating family reunification and enhancing professional mobility for the Sri Lankan expatriate community. • Economic Recovery & Aid: • Sri Lanka acknowledged Finland’s support via the EU GSP Plus scheme and assistance during economic stabilization. • Gratitude was expressed for Finland’s contribution to recovery efforts following Cyclone DITWAH. • Multilateralism: Both delegations reaffirmed their commitment to UN principles and exchanged views on regional and global security. 📈
SL-Romania Bilateral Mission: Focus on Labour & Digital Cooperation 📈
Minister of Foreign Affairs, Foreign Employment & Tourism, Vijitha Herath, will conduct an official visit to Romania from March 1–3, 2026, to strengthen economic and diplomatic ties. • Labour & Migration: A key highlight is the signing of a bilateral Memorandum of Understanding (MoU) on Cooperation in the field of Labour. This establishes a formal, transparent framework for structured labour mobility and safe migration between the two nations. • Strategic Meetings: Discussions are scheduled with Romanian Ministers of Foreign Affairs, Labour, and Economy to enhance bilateral relations across multiple sectors. • Economic Focus: Beyond foreign employment, talks will cover digitalization, entrepreneurship, and tourism to promote institutional cooperation and mutual economic interests. • Context: This mission prioritizes the ICT/BPM and tourism sectors while formalizing the export of skilled and semi-skilled labor to the European market—a vital source of foreign exchange for Sri Lanka.
### 🇵🇹 Sri Lanka and Portugal to Bolster Economic and Bilateral Ties
The Portuguese Minister of State and Foreign Affairs, Paulo Rangel, concluded a high-level working visit to Colombo on February 24, 2026, aimed at transitioning long-standing historical ties into a modern economic partnership. • Key Diplomatic Engagements: Minister Rangel met with Foreign Minister Vijitha Herath and Prime Minister Dr. Harini Amarasuriya to discuss expanding cooperation beyond cultural heritage. • Economic & Sectoral Focus: The bilateral talks centered on several key pillars for national growth: Trade & Investment: Commitments were made to enhance economic collaboration through regular consultations. Tourism: Identified as a priority area for growth leveraging shared cultural history. Infrastructure & Heritage: The visit included a tour of the Colombo Port, signaling interest in logistics, alongside visits to major religious and cultural landmarks. • Future Outlook: Both nations affirmed a commitment to collaboration in multilateral fora and contemporary global issues. The visit is expected to act as a catalyst for increased foreign involvement in Sri Lanka’s Tourism and Trade sectors.
Sri Lanka Showcases Premium Gems at 73rd Bangkok Fair 💎
The Embassy of Sri Lanka in Bangkok facilitated a major presence at the 73rd Bangkok Gems & Jewelry Fair (BGJF), held from February 22–26, 2026. As one of the world's top four jewelry trade exhibitions, the event serves as a critical platform for Sri Lanka’s gems and jewelry sector to access the ASEAN and global markets. • Overall Participation: A total of 60 Sri Lankan companies are exhibiting under the national pavilion, occupying 75 booths. Additionally, 10 Sri Lankan-owned companies based in Thailand are participating, showing a strong regional footprint. • Sector Focus: The pavilion highlights world-renowned Ceylon gemstones, specifically sapphires and other precious stones, emphasizing the country’s heritage in high-end craftsmanship. • Strategic Importance: The delegation was led by the Minister of Industry and Entrepreneurship Development, highlighting the state's commitment to the export of high-value minerals to strengthen trade ties with Thailand. • Scale of Event: The fair features 1,300 companies across 2,800 booths, providing Sri Lankan exporters direct exposure to international buyers and commercial partnerships. Based on official reporting from the Embassy of Sri Lanka in Bangkok. 📈 ---
Headline: Sri Lankan SMEs Target Indian Markets at IHGF Delhi Fair 2026 📈
The Sri Lanka Export Development Board (EDB) successfully facilitated a 19-member delegation to the 61st IHGF Delhi Fair Spring 2026 and subsequent business link-up sessions in Mumbai. • Strategic Exposure: Sri Lankan SMEs in the giftware & lifestyle products sector gained direct access to India's premier sourcing platform, featuring over 3,000 exhibitors and 2,000+ new product lines. • Sector Focus: The lifestyle products industry is highlighted as a high-potential foreign exchange earner, leveraging traditional craftsmanship to meet growing global demand for niche, sustainable products. • Market Linkages: • New Delhi: Participants engaged with international buyers and explored emerging design trends and eco-friendly production. • Mumbai: Networking with the World Trade Centre Mumbai and the Maharashtra Chamber (MACCIA) facilitated B2B meetings and knowledge exchange. • Overcoming Constraints: The mission aimed to bridge critical gaps for SMEs, including limited exposure to global trends, insufficient design upgrading, and technical skill shortages. • Future Outlook: Through these strategic initiatives, the EDB aims to integrate Sri Lankan artisans into premium international markets by transforming traditional crafts into export-ready, contemporary products.
U.S. Delegation Eyes Investment in Sri Lanka’s Graphite Sector 📈
A high-level delegation from the Montana State Partnership Program (SPP) and Mooney Group LLC met with Sri Lanka's Ambassador to the U.S. to discuss strategic investments in the island's graphite industry. • Strategic Interest: The U.S. group, including mining executive James Mooney, aims to provide technical expertise and global market access to develop Sri Lanka's high-purity vein graphite. • Value Addition: Discussions focused on moving beyond raw exports toward value-added production, integrating Sri Lanka into the global critical minerals supply chain for energy storage and defense. • Standards & Tech: The partnership seeks to implement advanced technology, safety protocols, and environmental standards to enhance the sector's global competitiveness. • Upcoming Milestones: This follows a growing partnership; a Graphite Mining Summit and a five-day workshop at the University of Peradeniya are scheduled for April/May 2026. _Note: This collaboration aligns with Washington's "friend-shoring" strategy for critical mineral supply chains._
Diplomatic & Trade Mission: FM Vijitha Herath to Visit Germany 📈
• Foreign Minister Vijitha Herath will undertake an official visit to Germany from February 26-27, 2026, aimed at strengthening bilateral economic and political ties. • The visit centers on an invitation from the German-Asia Pacific Business Association (OAV) Bremen Chapter. Minister Herath will serve as the Guest of Honor and Keynote Speaker for Asia at the OAV’s 125th Anniversary event. • Key objectives of the mission include: • High-level discussions with German Foreign Minister Dr. Johann Wadephul. • Promoting Foreign Employment opportunities for Sri Lankans in the European market. • Hosting a business roundtable focused on attracting investment and enhancing Trade relations. • This engagement is significant for the Tourism and Labour Migration sectors, as the OAV is the largest German association dedicated to Asia-Pacific business partnerships, connecting Sri Lanka directly with major German policymakers and business leaders.
Sri Lanka & New Zealand Eye Trade Expansion via Expo 2026 📈
The Export Development Board (EDB) held a high-level virtual meeting with New Zealand counterparts to bolster participation in Sri Lanka Expo 2026 and strengthen bilateral economic ties. • Trade Performance & Targets In 2025, Sri Lanka’s exports to New Zealand totaled approximately US$ 31.24 Mn. While New Zealand currently ranks as the 52nd export destination, the EDB identifies significant untapped potential for growth and diversification. • Key Export Sectors Current trade is dominated by: • Ceylon tea and processed foods • Apparel & textiles • Rubber-based products • Edible preparations • Strategic Focus Areas The Sri Lanka Expo 2026 aims to position the island as a sustainable sourcing hub, highlighting: • ICT/BPM and emerging technology solutions • Value-added agriculture and agribusiness • Sustainable manufacturing partnerships • Bilateral Cooperation High Commissioner David Pine and the Sri Lankan business community in NZ committed to facilitating trade delegations and exploring joint ventures to enhance value chains across both markets. _Data based on EDB provisional figures for 2025._
Sri Lanka & Germany to Ink Major Market Access Pact 📈
The Cabinet of Ministers has approved a strategic cooperation agreement between the Sri Lanka Export Development Board (EDB) and the German Import Promotion Bureau (IPB) to enhance export penetration into Germany and the broader European Union. • Core Objective: Establishing a structured framework for long-term market integration, focusing on export readiness and compliance with rigorous EU environmental and due diligence standards. • Targeted Sectors: • Natural Raw Materials: Boosting high-value products like organic spices and coconut-based products. • ICT/BPM: Scaling the information technology outsourcing industry and digital services. • SMEs & Women-Led Businesses: Dedicated support for inclusive growth through technical guidance and capacity building. • Key Benefits: • Direct technical guidance on sustainability and quality regulations. • Facilitated B2B matchmaking and access to market intelligence. • Enhanced competitiveness for local exporters in high-value European markets. • Strategic Context: The pact aligns with Sri Lanka’s National Export Strategy (NES) for diversification and value addition. It precedes the Foreign Minister’s upcoming visit to Germany to further bilateral trade ties.
📈 UK DCTS Reforms: Sri Lankan Exports Set for 10% Growth
The UK’s Developing Countries Trading Scheme (DCTS) reforms, effective 1 January 2026, are set to significantly enhance Sri Lanka’s trade competitiveness by allowing duty-free exports to the UK even when using globally sourced fabrics. • Sector Impact: The apparel & textiles industry is expected to see production volume growth in excess of 10%. Major UK retailers, including Tesco and Next plc, have reaffirmed their commitment to sourcing from Sri Lanka under the new tariff-free rules. • Logistics & Supply Chain: Significant boosts are anticipated for the logistics sector, particularly in multi-country consolidation (MCC) and quality assurance. Operations managed by Maersk, Speedmark, and Aitken Spence Logistics are already scaling to handle increased volumes. • Strategic Shifts: • Fabric Sourcing: Manufacturers are now actively expanding their global mill base across Southeast Asia and Europe to incorporate diverse materials into UK-bound collections. • Sustainability: High-end facilities are adopting low-emission freight operations, such as battery-powered forklifts, to meet UK retailers’ low-carbon supply chain requirements. • Economic Contribution: The scheme acts as a catalyst for job creation across transport, packaging, and warehousing units, while strengthening long-term UK–Sri Lanka trade relations and export diversification.
SL Envoy Meets Habib Bank Chairman to Strengthen Bilateral Ties 📈
• Overall Engagement: Sri Lankan High Commissioner Fred Senevirathne met with Habib Bank Ltd (HBL) Chairman Sultan Ali Allana in Pakistan to reinforce long-standing economic and diplomatic relations. • Financial & Sector Impact: The meeting highlighted HBL’s decades-long presence in the banking and financial services sector in Colombo. The Chairman reaffirmed the bank's continued commitment to its operations and engagement within Sri Lanka. • Humanitarian Support: The Sri Lankan government expressed formal gratitude for HBL’s generous contributions toward relief efforts following recent devastating floods, emphasizing the role of international banking partners in national disaster recovery. • Future Outlook: Both parties reaffirmed strong bilateral ties between Pakistan and Sri Lanka. Chairman Allana expressed intentions for an upcoming visit to Sri Lanka to further enhance cooperation and people-to-people ties.
📈 Sri Lanka-China Boost Agricultural Tech Cooperation
A specialized two-week training program on Tropical Food Production and Processing Technologies concluded in Kandy, marking a strategic advancement in bilateral technical cooperation. • Overall Scope: Jointly organized by the Chinese Academy of Tropical Agricultural Sciences (CATAS) and the Department of External Resources (ERD), the program ran from January 14 to 28, 2026. • Sector Breakdown: Focused on tropical food production, crop management, and value addition to modernize Sri Lanka’s agriculture sector. • Key Highlights: • Experts from CATAS shared global best practices and research-based insights. • Public officials from various agriculture-related Government institutions received hands-on technical training. • Primary focus was on food processing technologies and quality enhancement to strengthen human resource development. • National Impact: The initiative, supported by the Ministry of Finance, aims to enhance institutional capacity and facilitate deeper cooperation in agricultural sector development and institutional capacity building. _Source: Department of External Resources (provisional data)_ ---