Sri Lanka eyes trade boost with Saudi Arabia

Sri Lanka’s Deputy Minister of Industry and Entrepreneurship Development, Chathuranga Abeysinghe, highlighted new opportunities for collaboration following his recent visit to Riyadh, where he represented Sri Lanka in discussions with Saudi business leaders and members of the Saudi–Sri Lanka Joint Business Council.

Taking to ‘X’, Abeysinghe noted that while bilateral ties are still evolving, Sri Lankan exports to Saudi Arabia are growing, and negotiations are underway for a Trade Promotion and Investment Agreement to further ease trade.

He emphasized the role of the 200,000 Sri Lankans living and working in Saudi Arabia as a vital people-to-people link.

Key sectors identified for future cooperation include renewable energy, shipping and maritime services, tourism, technology and startups, and agriculture. 

Abeysinghe stressed that Sri Lankan small and medium-sized enterprises, though modest in scale, are world-class in capability and can benefit from partnerships with Saudi brands and investors, potentially even attracting production bases in the Kingdom.

He added that the government is focusing on government-to-government collaboration and targeted proposals aligned with Saudi market needs, enabling both private sectors to engage more effectively.

“This visit reaffirmed that the Sri Lanka–Saudi Arabia partnership has great potential, and with strategic cooperation, we can build lasting economic growth and opportunities for both nations,” Abeysinghe said.

He also commended Sri Lankan Ambassador in Riyadh, Omar Ameer Ajwad, for his dedicated service in strengthening bilateral ties.

Deputy Minister of Industry and Entrepreneurship Development, Chathuranga Abeysinghe’s interview with Arab News: https://www.arabnews.com/node/2630665/business-economy (Newswire)

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