Sri Lanka and Brazil set $1 billion trade goal by 2030

March 21, 2026 at 10:37 AM

The Second Round of Bilateral Political Consultations between Sri Lanka and Brazil took place on Friday (20) at the Ministry of Foreign Affairs in Colombo, during which both sides acknowledged the steady growth in economic cooperation and agreed to raise bilateral trade to USD 1 billion by 2030.

Both countries also stressed the importance of broadening engagement in response to evolving global economic dynamics.

According to Sri Lanka’s Foreign Ministry, the meeting also discussed preparations for President Anura Kumara Dissanayaka’s forthcoming state visit to Brazil.

Noting the importance of enhancing parliamentary diplomacy and fostering closer ties between the legislatures, the two sides agreed to revive the Parliamentary Friendship Groups and exchange delegations. In this regard, a women’s parliamentary group from the Brazilian legislature is expected to visit Sri Lanka.

The meeting was co‑chaired by Secretary to the Ministry of Foreign Affairs Aruni Ranaraja and Ambassador Susan Kleebank, Secretary for Asia and the Pacific at the Ministry of Foreign Affairs of Brazil. 

The consultations provided an opportunity to review progress since the First Round of Bilateral Political Consultations held in 2022 and identify further areas for collaboration.

Recognizing the value of expediting the conclusion of pending MoUs and agreements in key areas, the parties committed to finalizing outstanding legal instruments on defence, law enforcement, countering human smuggling and transnational organized crime, traditional and Ayurvedic medicine, and diplomatic training.

Both sides expressed satisfaction that the Dairy Livestock Project and the Sugarcane Project under the framework of technical cooperation have been finalized and are expected to be signed soon, with the support of the Brazilian Cooperation Agency (ABC).

The discussions also identified new avenues for cooperation in priority sectors, including agriculture, animal husbandry, agricultural research, ports and shipping, and sports. Both sides agreed to continue close collaboration in bilateral and multilateral forums.

Ambassador Susan Kleebank also called on Minister of Foreign Affairs Vijitha Herath, where both sides reaffirmed their commitment to further strengthening bilateral relations and expanding cooperation in areas of mutual interest.

Delegations to the consultations included Sri Lanka’s Ambassador to Brazil Chaminda I. Colonne, Chargé d’Affaires of the Embassy of Brazil Monica Maria Meirelles Nasser, and senior officials from the Ministry of Foreign Affairs, Foreign Employment and Tourism, and relevant line agencies. (Newswire)