Germany supports Sri Lanka’s development efforts

Germany – the topmost industrialised country in the world with a trade surplus of Euros 230 billion - is increasingly supporting Sri Lankan industry. Germany is also allowing showcase industries like boat building and food sector, in the international market when these industries have their pavilions in Germany in January next year, while assisting to improve Sri Lanka’s energy sector.

These facts were mentioned by Andreas Hergenrother, Chief Delegate of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) when he addressed the 6th edition of “Top German Brands in Sri Lanka” that represents 147 German companies in Sri Lanka held at Hilton Residencies, Colombo on Wednesday with Malik Samarawickrama, Minister of Development Strate gies and International Trade as the Chief Guest.

The event was organised by the AHK Sri Lanka with the support of the German Embassy.

He said the number of German brands in Sri Lanka which was 120 has now increased to 147. “With the highest trade surplus in the world Germany continues to be the world’s export champion. The trade surplus is Euros 230 billion,” he said.

Sri Lanka German business relations are in a very good shape while Sri Lankan exports to Germany have increased by 9 per cent in the first half of 2018 and German exports have increased by 4 per cent during the last two months, he indicated.

He said that 30 per cent of German companies have indicated that the outlook of the Sri Lankan economy would not be changed and stay in that position as they expect. In the respective industries the expectations are very positive while 75 per cent of the industries would stay unchanged or improve, he noted.

He stressed that Sri Lanka’s boat building industry is showing potential for the international community and is showing remarkable progress. Germany will support them and in this context there would be another delegation from the food sector where about 15 Sri Lankan companies would be exhibiting in Germany.

Jorn Rodhe, German Ambassador to Sri Lanka and Maldives, indicated that Sri Lanka’s trade and industry has to be more liberalised a topic that has been discussed often. Sri Lanka has a very dynamic port but more liberalisation should be there and there should be a level playing field for companies, with less red tape and ease of doing business which will improve to get even more and better growth rate.

The number of companies was growing which showed the commitment of German companies in Sri Lanka, he said adding that Sri Lanka has be elevated to a upper middle income country, according to statistics, he said adding that, “actually your exports have gone much more than our exports to Sri Lanka.”

With the highest trade surplus in the world Germany continues to be the world’s export champion. The trade surplus is Euros 230 billion