The Sri Lanka – Saudi Arabia Joint Business Council was established following the signing of a Memorandum of Understanding (MOU), making it the first-ever B2B Forum between the two countries.

The MOU was signed between the Federation of Saudi Chambers (FSC) and the Sri Lanka Federation of Chambers of Commerce and Industry (SLFCC) at the headquarters of the FSC in Riyadh on Tuesday (11). 

Minister of Foreign Affairs Vijitha Herath said the Joint Business Council would serve as a catalyst to enhance the much-needed closer private sector interactions between the two countries.

“I witnessed the launch of the historic Sri Lanka – Saudi Arabia Joint Business Council (11). Chairman of the Federation of Saudi Chambers Hassan Al-Huwaizi and President of the Sri Lanka Chambers of Commerce and Industry Keerthi Gunawardane, who virtually joined the meeting, signed the MoU establishing the Business Council. Ambassador of Sri Lanka to the Kingdom of Saudi Arabia, Ameer Ajwad, and Chairman of the Saudi Chambers of Commerce Hassan Al-Huwaizi exchanged the signed MoU. This is a long-awaited first-ever B2B Forum between the two countries, which would serve as a catalyst to enhance the much-needed closer private sector interactions between the two countries,” Minister Herath said in a post on ‘X’. 

Minister Vijitha Herath added that he also addressed the Federation of Saudi Chambers, highlighting trade and investment opportunities in Sri Lanka. (Newswire)

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The Sri Lanka Business Council of the Maldives (SLBCM) was officially launched in Malé recently (12 Nov), marking a major step forward in fostering stronger economic collaboration and unlocking new opportunities between Sri Lanka and the Maldives. 

According to the Sri Lankan High Commission in Malé, this initiative is conceptualized and spearheaded by the High Commissioner of Sri Lanka to the Maldives, Ranga Goonawardena. 

The launch event was attended by Ministers, High Commissioners, Ambassadors, prominent Sri Lankan and Maldivian business leaders, government officials, and other dignitaries.

The Council is affiliated with the High Commission of Sri Lanka in the Maldives, underscoring its role as a key facilitator in strengthening trade, investment, and business relationships between the two countries.

The chief guest of the event, Minister of Economic Development and Trade of Maldives, Mohamed Saeed, commended the Council as a vital step in formalizing the synergy between the business communities of Sri Lanka and the Maldives. “This Council is a testament to the deep economic bonds our countries share, with bilateral trade already surpassing $160 million annually. This platform will play a critical role in generating employment, enhancing trade, and fostering innovation,” he stated.

High Commissioner Ranga Goonawardena expressed a deep sense of accomplishment in realizing this key initiative, highlighting it as one of his priorities. In his remarks, he stated “This Council was born out of an idea I personally envisioned, driven by the immense potential I saw in strengthening the economic ties between our two countries. It is more than a platform; it is a bridge to opportunities and a commitment to prosperity for both Sri Lanka and the Maldives”.

The President of the Sri Lanka Business Council, Duminda Rathnadiwakara emphasized the Council’s focus on fostering connections not only at the government level but also within the business communities of both countries. He outlined its mission to create practical pathways for collaboration, ensuring that opportunities are accessible to all enterprises.

The Council comprises 14 Executive Committee members and has introduced a special membership category for Maldivian business leaders, with 25 honorary members inducted at the event. These memberships reflect the Council’s aim to build a collaborative network of professionals dedicated to enhancing bilateral business relations.

The establishment of the Sri Lanka Business Council of the Maldives occurs at a pivotal time as both countries seek to strengthen economic ties and foster mutual growth. The Council is expected to facilitate partnerships, support entrepreneurs, and attract new investments. (Newswire)

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