High Commission of Sri Lanka in India

Following repeated appeals to the Government of Myanmar and neighbouring countries by the Ministry of Foreign Affairs, twenty Sri Lankans, who were victims of human trafficking and stranded in Myanmar, have been rescued and safely arrived in Mae Sot, Thailand, on August 14, 2024.  Sri Lanka Ambassador in Thailand Wijayanthi Edirisinghe visited Mae Sot today and met with the rescued Sri Lankans and inquired into their welfare.  The Sri Lanka Missions in Yangon and Bangkok have been working closely to ensure the safe release and well-being of the victims.

Honoured delegates

Distinguished Guests

Good afternoon.

1. It is with great pleasure and a deep sense of commitment that I participate today, to discuss the promising future of economic cooperation especially in trade, investment, and tourism, between Sri Lanka and our esteemed BIMSTEC partners. Thank you to the Ceylon Chamber of Commerce for inviting me to this session. At the outset permit me to accord all of you here, a warm welcome to the country session on Sri Lanka.

2. We are united here by a shared vision of progress and prosperity for our region, culminating in the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation–BIMSTEC. It is representative of a dynamic and forward-looking group of nations, each bringing unique strengths to our collective table. Together, we undoubtedly have the potential to transform our economic landscape and build a more integrated and prosperous future.

3. Trade is the lifeblood of our nations, and it is through enhanced economic cooperation that we can unlock new opportunities and drive mutual growth. Sri Lanka, strategically located at the crossroads of major shipping routes, stands as a vital trade hub in the BIMSTEC region. By reducing trade barriers, harmonizing regulations and improving logistics, we can facilitate smoother and more efficient trade flows between our countries. It was in pursuit of this aspect that in 2004, the BIMSTEC member countries agreed to establish a framework for a free trade area. This consensus as we know has been with the objective of boosting trade and investment within the region. However, certain aspects of this framework are still being negotiated and remain incomplete. It is timely that we strive with greater resolve to have this regulatory system in place at the earliest.

4. As progress on the free trade area framework within BIMSTEC has been slow, we are now focusing on specific components including trade facilitation and mutual assistance on customs matters. With these areas being prioritized I believe that we are on a trajectory to finalize the Trade arrangement and move forward. In the meanwhile, let us build on our existing bilateral trade agreements and work towards expanding market access. By encouraging bilateral trade and investment through fostering intra–regional partnerships, we can ensure that businesses in Sri Lanka and across BIMSTEC thrive in a more interconnected and supportive environment. As a tourism and export- oriented economy, Sri Lanka is seeking to boost trade and investment relations with BIMSTEC member countries. The recently concluded FTA with Thailand which will be implemented in January 2025, the ongoing negotiations with India on Economic and Technology Cooperation Agreement (ETCA) and progressing negotiations with Bangladesh for a Preferential Trading Agreement culminating in a FTA, are initiatives Sri Lanka has taken in this direction. Efforts have been made to improve market access, and attract investments.

5. Expectedly investment is another cornerstone of our cooperation. Sri Lanka offers a wealth of opportunities for investment in sectors such as infrastructure, technology, and renewable energy in addition to tourism infrastructure and agriculture. We are committed to creating a favorable investment climate, marked by transparency, stability and robust support for investors.