SA to continue to enhance investment in SL

Ramani Kangaraarachchi

South Africa will continue to network with Sri Lanka which would lead to enhance business, trade and investment between the two countries. South Africa's Deputy Minister of Economic Development Professor Hlengiwe Buhle Mkhize, said at the South Africa -Sri Lanka Business Seminar held at the Taj Samudra Hotel, Colombo yesterday.

The 30 member delegation of the African National Congress (ANC) Progressive Business Forum (PBF), chaired by Prof Mkhize arrived in Sri Lanka for the first time, focusing on trade which would open the door for trade enhancement between the two countries and also strengthening relationships.

Convenor PBF, Renier Schoeman, said Sri Lanka was selected for the visit due to many reasons which include its rank as a key destination for business, proximity and accessibility.

He said Sri Lanka has an economy worth around US $ 59 billion year on year, the GDP growth of around 8 percent while South Africa was considered the biggest export market in Southern Africa for Sri Lanka.

Deputy Minister of Economic Development, Laxshman Yapa Abeywardana said there were many opportunities for economic development in many areas of Sri Lanka and Sri Lanka hoped to enhance relationship with South Africa in the future. A MoU was also signed for bilateral agreements by the minister and Prof Mkhize.