A 15 member business delegation organised by the Ceylon Chamber of Commerce visited Riyadh to further promote trade, investment and tourism between Sri Lanka and the Kingdom of Saudi Arabia from 28th October to 1st November, 2017. This successful business promotion mission was organised by the Ceylon Chamber of Commerce in collaboration with the Embassy of Sri Lanka in Saudi Arabia.
The delegation participated at number of business discussions followed by B2B Meetings arranged by the Commercial Section of the Embassy of Sri Lanka in Riyadh in association with the Saudi Arabia Basic Industries (SABIC), Council of Saudi Chambers (CSC), Saudi Fund for Development (SFD)/Saudi Export Programme (SEP), Riyadh Chamber of Commerce, ALFANAR Company (manufacturer of electrical items), Othaim Hyper Market, Lulu Group International and the National Industrialization Company (Tasnee) – Saudi Arabia’s second largest industrial company and one of the world’s largest producers of chemicals especially Titanium Dioxide.
In addition, a networking event was organised for delegates to meet Sri Lankan expatriate professionals attached to Trade and Investment Steering Committees of the Embassy of Sri Lanka in Saudi Arabia to share their experience in doing business in the Kingdom of Saudi Arabia. Under the leadership of His Excellency Azmi Thassim, Ambassador for Sri Lanka in Saudi Arabia, Steering Committees have been formed to promote trade, investment and tourism between our two countries.
“Sri Lanka looks forward to further strengthening ties with the Kingdom, especially in the fields of trade, investment, employment and tourism. Since the establishment of diplomatic relations between the two countries, trade and tourism have tremendously increased for the benefit of the people of the two friendly countries,” said by the Ambassador for Sri Lanka His Excellency Azmi Thassim at the discussion forums adding that nearly 40,000 Saudi nationals visited Sri Lanka last year. His Excellency stated that Saudi families who had visited Sri Lanka had always opted to repeat their visits because of the island’s natural scenic beauty and the hospitality of its people.
During the discussion forums, Senior Assistant Secretary General of the Ceylon Chamber of Commerce, Ms. Lilakshi de Mel extended invitations to the Council of Saudi Chambers and the Riyadh Chamber of Commerce to organise business promotion missions to Sri Lanka to explore many business and investment opportunities available. It was further stated that the visit will go down in the history book of the Chamber as this is the first formal business promotion mission organised to the Kingdom of Saudi Arabia by the Ceylon Chamber of Commerce.
The delegation comprised Mr. Abdul Zubairdeen, Managing Director and Mr. Abdeen Ahmed, Manger – Foreign Relations of Adams Peak Group of Companies (Pvt) Ltd., Mr. Mohamed Azmeer, Chief Executive Officer, Amana Bank PLC, Mr. Kumuditha Perera, General Manager, C.R. Exports (Pvt) Ltd., Mr. Prasad Senadeera, Director/CEO of Cropwiz (Pvt) Ltd., Mr. Amith Noor, Director, Fanam International (Pvt) Ltd., Mr. Devinda Lorensuhewa, Deputy General Manager Marketing, Kelani Cables PLC, Mr. Anthony Jacob, Export Manager, Macksons Paints Lanka (Pvt) Ltd., Dr. U.K.M. Ismail, Chief Executive Officer and Mr. Imraan Ismail, Director of Lloyds Auto Mart (Pvt) Ltd., Mr. Anton Hemantha, Managing Director, Selmo (Pvt) Limited, Mr. Shamendra Panditha, Managing Director/CEO of Sierra Cables PLC. and Ms. Lilakshi de Mel, Senior Assistant Secretary General of the Ceylon Chamber of Commerce.
Diplomatic relations with the Kingdom was established in 1974 and the two countries have maintained excellent relations in social, cultural, political and economic fields. Saudi Arabia is the 25th largest export economy in the world and the 62nd most complex economy according to the Economic Complexity Index (ECI). Saudi Arabia borders the United Arab Emirates, Iraq, Jordan, Kuwait, Oman, Qatar and Yemen by land and Egypt, Eritrea, Sudan, Bahrain and Iran by sea. Saudi Arabia has an oil-based economy with strong government control over major economic activities.
Saudi Arabia possesses 25% of the world’s proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC. Although, there is no bi-lateral trade agreement between two countries, Sri Lanka has been trading with Kingdom of Saudi Arabia for a considerable time and in year 2017 January to June, Saudi Arabia ranked as the 28th export destination for Sri Lanka. Sri Lanka’s main export products to Saudi Arabia: Tea in Bulk, Tea packets, Vegetables, Garments, Kernel products, Fruits, fresh or dried, Tea bags, Rubber products, Chemicals & plastics Products, Cloves, Gems, Wood & wood products. Main imports from Saudi Arabia to Sri Lanka: Petroleum products, Artificial resins, Plastic materials cellulose, esters, ethers, Confectionery & bakery products, Tanning & dyeing, Paints, varnishes, Chemicals & plastics products, Glass & glass ware, Copper & copper products, Transport equipment & parts, Iron & steel products.
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