UK Trade Envoy concludes three-day visit to Sri Lanka

UK Prime Minister’s Trade Envoy for Sri Lanka Lord Davies of Abersoch visited Colombo recently.

During the visit Lord Davis had meetings with Central Bank Governor Dr. Nandalal Weerasinghe, Power and Energy Minister Kanchana Wijesekera, Trade Minister Nalin Fernando, and State Enterprise Restructuring Unit Director General Suresh Shah. Lord Davies discussed and exchanged ideas on Sri Lanka’s trading relationship, market access challenges faced by UK companies, and further opportunities for collaboration that supports the mutual economic prosperity of both the UK and Sri Lanka.

Lord Davies engaged with wide-ranging representation from across the business community. He met with a range of UK businesses to discuss their views on the operating environment and future ambitions. He visited the De La Rue and Unilever factories which are two successful examples of UK manufacturing excellence in the country. He also toured LSEG Technology that brings Sri Lankan tech talent to the forefront by delivering high performance solutions that service 40 financial markets globally.

Lord Davies delivered a guest lecture to students following University of Plymouth courses at NSBM’s Green University, one of the 35+ UK university partnerships that are delivering world-class British transnational qualifications to students in Sri Lanka. During his visit to Ryse Energy’s offices in Colombo he learnt about the exciting partnerships and opportunities for renewable energy solutions they are developing in-country. He also addressed senior Sri Lankan business leaders on the importance of champions and particularly male allies to support greater gender equality in Sri Lankan workplaces and particularly in senior corporate leadership.

Lord Davies shared the following thoughts at the conclusion of his visit:

“I’ve enjoyed meeting representatives and visiting several factories and offices of some fantastic UK companies who are outstanding examples of the innovative and hi-tech operations in the market. This is a testament to the access they have to a valuable and talented workforce that Sri Lanka has to offer. Through all my conversations in the last three days I am encouraged by the optimism that while economic challenges continue, ambitions remain strong.

With Government stakeholders I’ve had some engaging discussions about the ongoing economic reforms and improving the ease of doing business and market access. There are also further areas for collaborations particularly around renewable energy. I will continue working with and extending my support to UK companies as they look to enter or grow their existing business with Sri Lanka.”

The UK is keen to see Sri Lanka improve market access and ease of doing business which will further boost the UK – Sri Lanka trade and investment relationship. With UK being Sri Lanka’s second largest export market, the UK’s DCTS further supports the country to now trade tariff-free on 92% of goods. The UK is keen to further strengthen the trade relationship particularly in the areas of education, and financial services sector, while also finding ways to support Sri Lanka’s ambitions on renewable energy and clean transport.

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