SL-India trade bodies to promote bilateral trade, investment | Daily News


SL-India trade bodies to promote bilateral trade, investment

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

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

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

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 the 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 USD265 billion, announced by Indian Prime Minister Modi, would boost trade activities between India and Sri Lanka by revitalizing demand.

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

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