Summary:
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The first Sri Lanka-Africa Business Forum was hosted by Minister of Foreign Affairs M. U. M. Ali Sabry on February 3, 2023, at the Ministry of Foreign Affairs.
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There were 17 heads of mission from Africa at the meeting, as well as CEOs and business leaders from Sri Lanka.
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The meeting’s discussions center on how Sri Lankan companies may exploit their comparative advantage to access African regional markets.
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The Sri Lanka-Africa Business Forum produced fruitful discussions about advancing the agenda for a strengthened business relationship through the involvement of the Sri Lankan and African diasporas in their respective countries.
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In line with the Sri Lankan government’s “Look Africa” policy, the Foreign Ministry has made the Sri Lanka-Africa Business Forum one of the first promises for the 75th anniversary of Independence Day.
On February 3, 2023, Minister of Foreign Affairs M. U. M. Ali Sabry held the first Sri Lanka-Africa Business Forum at the Ministry of Foreign Affairs. There were 17 heads of mission from Africa at the meeting, as well as CEOs and business leaders from Sri Lanka. At the forum, people talk about how Sri Lankan businesses can use their comparative advantage to get into African markets. The meeting with African Heads of Mission at the Presidential Secretariat in the morning, which President Ranil Wickremesinghe led, led to this discussion.
In his opening remarks, Foreign Minister Sabry talked about how important it was for Sri Lanka to use economic diplomacy to get the most out of its financial relationships with Africa. The Minister says that there are many untapped opportunities to increase Sri Lanka’s market share in the African region in key value-added exports and new targeted priority sectors like renewable energy, ICT & Digital Technology, pharmaceuticals, the construction industry, and the supply of skilled Sri Lankan labor for gainful employment.
Hela Apparel’s presentation showed that they have been successful in breaking into the African market. They have stores in Kenya, Ethiopia, and Egypt. The SPAR Group, a well-known South African corporation, boasted of its success in establishing a more substantial presence in Sri Lanka thanks to its favorable business environment and chain of supermarkets.
At the Sri Lanka-Africa Business Forum, people talked about how to strengthen business ties by involving people from the Sri Lankan and African diasporas in their own countries. The African country delegates participating at the summit warmly embraced the outreach effort.
In line with the Sri Lankan government’s “Look Africa” policy, the Foreign Ministry has made the Sri Lanka-Africa Business Forum one of the first promises for the 75th anniversary of Independence Day.
Senior members of the Foreign Ministry, State Minister for Foreign Affairs Tharaka Balasuriya, and Foreign Secretary Aruni Wijewardane took part in the conversation. The heads of mission for South Africa, Kenya, Egypt, the Seychelles, and Ethiopia in Sri Lanka talked to each other from afar.
Distributed by APO Group on behalf of the Ministry of Foreign Affairs—Sri Lanka.
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Analysis by: Advocacy Unified Network
