Sri Lanka-Canada Business Council concludes successful trade and investment mission to Canada

• 5opn1
• November 4, 2024
• Business News
• Canada, Sri Lanka-Canada Business Council
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The Sri Lanka-Canada Business Council (SLCBC) of The Ceylon Chamber of Commerce successfully concluded its nine-member trade and investment mission to Canada, strengthening bilateral ties and exploring trade, investment, and allied opportunities in key sectors. Held from 14 to 22 October, the mission was led by SLCBC President Priyantha Chandrasekara and included constructive exchanges with Canadian business leaders, government officials, academic institutions, and business chambers.

Before departing for Canada, the delegation held a briefing with Sri Lankan Prime Minister Dr. Harini Amarasuriya to discuss the objectives and anticipated impact of the mission, signalling the importance of this initiative at the highest levels of Sri Lanka’s Government.

The mission’s flagship event, the Sri Lanka-Canada Business Forum, was held on 15 October and showcased abundant opportunities for collaboration between the two nations. Keynote speaker, Canada Sri Lanka Business Convention (CSBC) President Kula Sellathurai, the SLCBC’s counterpart in Canada, highlighted Sri Lanka’s growth potential in emerging sectors. The SLCBC leadership, including President Priyantha Chandrasekara and Vice President Mohammad Hameez, outlined Sri Lanka’s strategic advantages in trade and investment, focusing on critical areas such as higher and tertiary education, smart and green agriculture, travel and tourism IT and startups. The forum spotlighted the Colombo Port City project and the Industrial Processing Zone in Kankesanthurai (KKS), presenting compelling investment incentives for Canadian businesses.

Following the forum, CSBC hosted a networking session attended by prominent business leaders and members of the Scarborough Business Association, facilitating discussions on joint ventures and collaborative projects.

The delegation engaged with the Council of Ontario Universities, including its President and CEO, Steve Orsini, to explore educational partnerships, research initiatives, and student mobility opportunities, particularly in STEM fields. Additionally, discussions with the J’pura Canada Alumni Association highlighted a strong demand for enhanced educational exchanges, paving the way for expanded academic collaboration between Canada and Sri Lanka.

In further engagements, the delegation explored agriculture, mineral exports, and educational partnerships with the Can Lanka Business Association.

In Ottawa, Member of Parliament for Nepean West Chandra Arya, welcomed the delegation to the Canadian Parliament for discussions on reducing trade barriers and fostering a favourable business climate. The SLCBC also met with the Sri Lankan High Commissioner to Canada, U.L. Mohammed Jauhar, who expressed strong support for these initiatives.

The delegation then proceeded to Montreal, where discussions continued with Global Affairs Canada and key Canadian food manufacturers. These meetings focused on expanding Sri Lankan exports, particularly coconut-based products, and creating pathways for Sri Lankan students seeking higher education in Canada, with a shared commitment to boosting bilateral trade flows.

In Vancouver, discussions with the Tri-Cities Chamber of Commerce and the Surrey Board of Trade centered on collaborative opportunities in Agri-Tech, IT, and tourism, further emphasising the growth potential of bilateral ventures. The delegation also engaged in discussions with Surrey City Councillor Linda Annis, as well as Honorary Consul of British Columbia to Sri Lanka Jim Bennett, and members of the Sri Lanka Friendship Association. The meetings highlighted Surrey’s extensive business landscape and provided insights into the vibrant Sri Lankan diaspora’s role in promoting bilateral ties.

The delegation was honoured at the 22nd anniversary of the Saravana Bhawan Restaurant Chain by owner and philanthropist Ganaesan Sugumar, who is also head of the CSBC’s counterpart organisation in Canada. Sugumar warmly welcomed the delegation alongside prominent investors, for this anniversary celebration.

The delegation’s visit closed with reaffirmed commitments from both the SLCBC and Canadian partners to foster sustainable economic growth and formalise future collaborative efforts. This mission signifies an exciting new chapter in Sri Lanka-Canada relations, setting a robust foundation for increased trade, investment, and educational exchange initiatives.

The Sri Lanka-Canada Business Council (SLCBC) is set to host Canadian counterparts and distinguished business leaders from various chambers in Sri Lanka in early 2025. This visit will provide a platform for discussions with prominent Sri Lankan business figures and government officials on trade, investment, and joint venture opportunities, strengthening the partnership between the two nations.