Germany offers new markets for SMEs

Ramani Kangaraarachchi

Germany is extremely satisfied with the human rights situation and the high level of governance in Sri Lanka. It is positive of getting the GSP Plus back following the high powered dialogue in Brussels by the authorities.

There will be a friendly relationship with shared opportunities in the future as Germany can support to develop SMEs in Sri Lanka in the specific sector of entrepreneurship which is very important.

German Ambassador Jens Uwe Plotner speaking at the Key Persons' Forum organized by the Federation of Chambers of Commerce and Industry of Sri Lanka in Colombo said, the SME sector is the backbone of the German economy same as in Sri Lanka .

He said Germany can find new markets for Sri Lanka in that country and encourage Sri Lankan entrepreneurs to start new business ventures.

Referring to the SME sector in Germany he said companies with less than 500 employees come under this category and all companies of their SME sector have access to the export market with a high share of exports. Sixty five percent of jobs in Germany are created by the SME sector companies. Forty five percent of companies produce natural products.

There is also a strong connectivity between the people in the town and the companies and they have a short cycle of production.

Plotner said liberty and freedom is extremely important to the SME sector because strict rules and regulations delay the processes decreasing productivity.

"As Sri Lanka has achieved peace and the country is in a strong position it can discover new opportunities with value addition to its products", he said.