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Sri Lanka and Russia to further strengthen socioeconomic relations

Sri Lanka has taken major step forward towards strengthening socioeconomic relations with Russia while opening avenues for local businessmen and entrepreneurs to establish contacts with Russian counterparts, official sources disclosed.

Amidst the changing global dynamics, with the intention of strengthening socioeconomic relations between Russia and Sri Lanka, the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) recently organised a four-day program, Russia-Sri Lanka Economic Forum (23-27 Jan.), which heralded fruitful outcomes for both nations.

The program was organised in collaboration with the Embassy of Sri Lanka in Russia, Economic Affairs Division of the Ministry of Foreign Affairs and Sri Lanka Export Development Board.

At the invitation of FCCISL, a high-level Russian delegation of 12 members took part in the four-day program. The Russian delegation was headed by Sverdlovsk Regional Government Deputy Governor Kozlov Vasily Valerievich.

The delegation was composed of Sverdlovsk Regional Government Minister of International Economic Relations Yarin Vyacheslav Yurievich, officials of the Sverdlovsk Regional Government, representatives from large companies, investors, and education institutes from Russia.

The objectives of the four-day program were to attract foreign direct investments from Russia, to promote Sri Lankan products and services in Russia, to strengthen higher education, to promote tourism between the two nations, and to raise awareness on new business and economic opportunities in the Sverdlovsk region for the Sri Lankan business community.

FCCISL President Keerthi Gunawardane officially welcomed the Russian delegation, guests and participants of the forum. FCCISL Deputy Secretary General Tilan M. Wijesooriya moderated the sessions of the forum where five presentations were made by the Russian delegation focusing on economy, industrial development, tourism, trade fairs, and university education.

The focus of the second meeting was to enhance the trade between Russia and Sri Lanka. With a view for promoting tourism between the two countries, the Russian delegation had productive discussions with Minister of Tourism Harin Fernando,and ministry officials.

Exploring the investment opportunities in Sri Lanka for Russian investors, the Russian delegation had a productive meeting with the Chairman, Director General and officials of the Board of Investment of Sri Lanka.

Parallel to those meetings, the Business-to-Business meetings between Russian importers and Sri Lankan exporters were held at the Sri Lanka Export Development Board.

With the intention of enhancing the quality of research and academia, and with a view for developing university students in both countries, he Ural Federal University of Russia, represented by the Rector, Dr. Viktor Koksharov, signed several MoUs (Memorandum of Understanding) with the UGC, University of Colombo, NSBM Green University and NIBM.

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