Investment mission to Germany yields new partnership opportunities for Sri Lanka
The Development Strategies and International Trade Ministry, together with the Board of Investment (BOI), Export Development Board (EDB) and the AHK Germany, led a successful investment and export promotion visit to Germany last week.
During the three-day three-city promotion mission led by Development Strategies and International Trade Minister Malik Samarawickrama, Sri Lanka’s interests and capabilities in the trade and investment arena were showcased to a range of German and European investors, ranging from international logistics players, high-end equipment manufacturers, to importers of processed products.
The delegation also comprised a private sector team drawn from apparels, logistics, real estate and automotives. For the first time in history in the country, a Sri Lankan tech startup was also part of the official delegation. Sri Lankan Ambassador to Germany Karunasena Hettiarachchi also participated in the meetings.
A business forum was conducted in each of the three cities of Frankfurt, Hamburg and Berlin, during which Samarawickrama as well as BOI Director General Duminda Ariyasinghe and EDB Chairperson Indira Malwatte addressed the audiences of German investors on the investment opportunities in Sri Lanka and proactive facilitation by the government.
In his address to the participants, Samarawickrama stated, “German companies can enjoy the benefit of being located in a strategic geographic location, from which you can reach out to India, South Asia, East Asia, as well as Africa and the Middle East. With our continuing focusing on businessfriendly reforms, we will always be there to help you to set up and operate smoothly.”
He emphasized that German companies investing in Sri Lanka can take advantage of the country’s free trade agreements giving preferential access to India, Pakistan, the European Union and soon to Thailand and China.
Meetings were held with top German and European brands like Bbraun, Hellmann Logistics, TÜV Rheinland, Siemens, Fresenius, TUI Group, SAP, Heidelberg Cement, Melchers Group, Linde Group, DER Touristik, Allianz and the German Tea Council.
During the one-to-one meetings, Samarawickrama remarked, “The world has accepted that German companies are trend setters – whether it is in quality, safety or technology. We want to attract them to Sri Lanka, to partner with our companies, so that it elevates our entire economy.”
A discussion was also held with the German development bank KFW/DEG regarding financing of German FDI into Sri Lanka. In Hamburg, the delegation met with Senator Frank Horch, Minister of Economy, Transport and Innovation of the City of Hamburg and explored possible partnerships between the international logistics players in Hamburg and in Colombo.
The AHK ‘Delegation of the German Chamber of Commerce and Industry’, which is the local office of the DIHK in Berlin, played a key role in organising this visit. Most noteworthy was that German Chambers of Commerce hosted the trade and investment forums in each of the three cities, signaling a keen interest in Sri Lanka from the German private sector.