The third session of the Joint Committee on Economic and Technical Cooperation between Sri Lanka and Turkiye concluded in Colombo, marking a significant milestone in the strengthening of bilateral relations between the two nations.
The high-level talks focused on deepening cooperation across a wide range of sectors including trade, investment, agriculture, education, maritime affairs, transport, health, tourism, and technology.
The Sri Lankan delegation was led by Minister of Trade, Commerce, Food Security and Cooperative Development, Wasantha Samarasinghe, while the Turkish delegation was headed by Minister of National Education of Turkiye, Yusuf Tekin.
In 2024, bilateral trade between Sri Lanka and Turkiye reached US$257 million, with Sri Lanka’s exports totaling US$137 million and imports from Turkiye amounting to US$120 million. Approximately 70% of Sri Lanka’s exports to Turkiye comprised tea, while other key exports included garments, activated carbon, coconut-based products, and retreaded tires.
Both sides emphasized the need to explore untapped trade potential and improve market access. Special attention was given to leveraging the Generalized System of Preferences (GSP) offered by the Turkish Government to boost the competitiveness of Sri Lankan products.
The Committee reviewed opportunities for business-to-business matching, discussed a trade fair calendar, and highlighted the upcoming Sri Lanka Expo 2026, scheduled for June next year, as a key event for trade promotion.
On investment cooperation, both delegations identified promising sectors for targeted promotion, including food processing, renewable energy, ICT, medical devices, and rubber-based products. Collaboration in science, technology, and digital transformation was also underscored as a priority.
Discussions also focused on enhancing logistics and maritime connectivity, with joint interest in R&D collaboration in emerging health technologies. Notably, tourism was highlighted as a growing area of cooperation, with Turkish tourist arrivals to Sri Lanka increasing by 78% in 2024.
Turkish Airlines’ daily operations to Colombo were acknowledged as a key enabler of growing people-to-people and commercial ties.
Both countries agreed on the importance of concluding key bilateral instruments, including the Customs Cooperation Agreement and the Double Taxation Avoidance Agreement, to facilitate trade, enhance the investment climate, and build investor confidence.
Minister Samarasinghe reiterated Sri Lanka’s commitment to an ambitious reform agenda focused on export-led growth, infrastructure development, and digitalization, in line with the national vision of “A Prosperous Country – A Beautiful Life.” He welcomed Turkiye’s continued engagement and support in this effort.
The session concluded with both parties signing an Agreed Report, reaffirming their commitment to advancing cooperation in the identified priority areas.
