Belgian companies to invest in Lanka

The expanding growth opportunities in Sri Lanka, compared with the current global economic situation, should provide the impetus for forward looking European companies to increase their exposure to the country.

Many of the Belgian companies who visited Sri Lanka for the first time a year ago, has already begun productive trade and investment ventures with their local partners, and are also supporting the major infrastructure development efforts of Sri Lanka” said Minister of Industry and Commerce of Sri Lanka Rishad Bathiudeen.

The Minister made these observations at the inauguration of the ‘Sri Lanka Economic Forum’, and the B2B meetings with the participation of over 80 Belgian companies which included top Belgian firms such as Besix, CFE, at the Brussels Enterprise Commerce and Industry (BECI) auditorium in Brussels recently.

Sri Lanka’s premium exhibition “Sri Lanka EXPO 2012” is scheduled to be held in March 2012 in Colombo to showcase Sri Lanka’s export competiveness and its capabilities the Minister said: “This is a good opportunity for Belgian entrepreneurs to experience Sri Lanka’s competitive strengths in the global market.”

Vice-President of Brussels Enterprise Commerce and Industry (BECI) Jan De Brabanter welcoming the Minister and business delegation to Belgium recalled the long standing relationship between BECI and the Sri Lanka Embassy in Belgium explained how the business relations between the two countries grew in the past few years. “The SME’s, which is the driving force of the European economy, has to multiply their international development by looking for new market opportunities abroad, in particular by looking for partners in emerging markets”, “Sri Lanka is one such promising destination Brabanter said.”

Sri Lanka’s Ambassador to Belgium, Luxembourg and the EU Ravinatha Aryasinha described the present growth in Belgian business interest in Sri Lanka as a result of a process - one that commenced well before the ending of the terrorist conflict, and which has grown exponentially since the conflict ended and peace and stability restored to Sri Lanka over two and a half years ago.

Vice President of the Belgolux-Sri Lanka Business Council and former Belgian Ambassador to India and Sri Lanka Ambassador Jan De Boutte, said economic exchanges are a two way street and that the Belgolux-Sri Lanka Business Council is supporting both Belgian and Sri Lankan businesses to establish and expand in both countries.

Sharing their business experience in Sri Lanka, Group Director of J. Cortes Cigar NV Frederik Vandermarliere, said his company which is the 7th largest cigar manufacturer in the world located in Sri Lanka 26 years ago. Commending the resilience shown by the Sri Lankan people, he said “even during the conflict, there was not a single day we had to close our factories”.

Sujatha Weerakoon, Director General of the Sri Lanka Export Development Board made a detailed presentation on the forthcoming ‘Sri Lanka Expo-2012’ and invited Belgian business persons to participate in this premier event.

Minister (Commerce & Economic) of the Sri Lanka Embassy R.D.S. Kumararatne, as the coordinator of the programme delivering the vote of thanks appreciated the collaborative role played by the BECI, VOKA, Belgolux-Sri Lanka Business Council, Flanders Investment and Trade (FIT), Wallonia Export & Investment (AVEX) and major trade associations in the organization of the event and in promoting Sri Lanka in Belgium.

The Sri Lanka private sector delegation was represented by; Aloy Expo (Pvt) Ltd, Selta (Pvt) Ltd. Sierra Power (Pvt) Ltd, EW Information Systems Ltd (E-wis), Laugfs Holdings Ltd, Haylex Ltd.(Subsidiary of Hayleys), Thambapanni Cocos (Pvt) Ltd., Lanka Metals Company Ltd. and Andrews Travels (Pvt.) Ltd.