Sri Lankan And Indian Trade Bodies To Promote Bilateral Trade And Investment Post COVID-19

The Federation of Indian Export Organizations (FIEO) organized an interactive video-conference session with the participation of Federation Chamber of Commerce and  Industry Sri Lanka (FCCISL) and Colombo Chamber of Commerce to discuss trade and investment opportunities between the two countries post COVID-19.

Officials from High  Commission of India, Colombo and High Commission of Sri Lanka, New Delhi also participated in the discussion.

Noting the importance of growth of trade, investment and tourism between India and Sri Lanka, panellists from FIEO, FCCISL and Colombo Chambers discussed ways to  develop new avenues for cooperation in the three sectors. With a focus on export oriented production, FCCISL and Colombo Chambers also highlighted the opportunities for  investment in various sectors in Sri Lanka.

Ms Neha Singh, Head of Information Wing from the High Commission of India highlighted the need for the businesses of both countries to adopt innovative strategies to deal with the challenges presented by COVID-19, noting that Governments of India and Sri Lanka are implementing measures to ease the challenges faced by traders such as acceptance of e-Certificates of Origin. The President of FCCISL noted that the stimulus package of USD 265 billion announced by Prime Minister Modi in India would boost trade activities between India and Sri Lanka by revitalising demand.

The interaction ended with a Question and Answer session wherein Colombo Chamber of Commerce proposed to start an online mechanism with FIEO to respond to trade queries in real-time.