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As per the Mission Action Plan 2020, Sri Lanka High Commission in New Delhi organized a busines interactive session for the members of the BRICS Chamber of Commerce & Industry under the theme of “BUSINESS AND INVESTMENT OPPORTUNITIES IN SRI LANKA” , at the High Commission premises on 27th February 2020. The main focus of the business interactive session was to promote Sri Lanka as a potential business and Investment destination and to provide information on opportunities available for the members of the BRICS Chamber of Commerce &Industry to select Sri Lanka as their next investment destination.

At the business interactive session held on 27th February 2020, Acting High Commissioner Mr Niluka Kadurugamuwa welcomed the members of the BRICS Chamber of Commerce & Industry and highlighted the recent economic developments in the country and outlined the initiatives of the Sri Lanka government to create an economy, firmly based on foreign and domestic private investment.He urged the members of the BRICS Chamber of Commerce & Industry to expand trade relations with Sri Lanka by utilizing Indo Sri Lanka Free Trade Agreement.

While referring to the strategic location of the island as a gateway to the Indian sub-continent, he stated that through trading agreements Sri Lanka could integrate deeper with the regional and global economy, particularly through cross-regional global value chains and encouraged the Indian industrymembers to take advantage of these untapped trade and investment opportunities in the island.

It was pointed out that, against the backdrop of the long standing trade and economic relations between Sri Lanka and India, the direct engagement between the business partners of the two countries offers a significant opportunity of facilitating the long-term business collaboration. The Acting High Commissioner invited a delegation from the BRICS Chamber of Commerce & Industry to visit Sri Lanka and to engage directly with future business or investment partner to explore opportunities in Sri Lanka.

Speaking on behalf of the BRICS Chamber of Commerce & Industry, Secretary General Dr B.B.L.Madhukar reiterated the importance of exploring business potential in Sri Lanka due its unparalleled strategic location underpinned with conducive business climate and the fast developing infrastructure.He invited the Chamber members to explore the vast business potential under the Indo Sri Lanka Free Trade Agreement.

Minster Commercial of the High Commission, made a presentation on Business and investment potential in the key target sectors, market access tools and factor cost. In addition she elaborated on the incentives offered by granting reduced tax rates (for specific sectors) and enhanced capital allowances based on capital investments made by the investors under the Inland Revenue Act No. 24 of 2017. She invited the members of the BRICS Chamber of Commerce & Industry to select Sri Lanka as next investment destination.

Video clippings on BOI and Sri Lanka Tourism were presented followed by a question and answer session.

Seventy participants representing the industry and media attended the business interactive session.Corporate leaders from prominent companies such as IRCON, Diligent Logistics Solutions Pvt Ltd,Bitechem Asphalt Technologies Limited, JLN Phenix Energy Pvt Ltd were among the participants representing the industry sector of IT, renewable energy, construction, tourism & wellness etc.

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