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Sri Lanka and Japanese business councils agree to promote trade, investment

By: Staff Writer

Colombo (LNW): Sri Lanka and Japanese business councils have agreed in principle to facilitate Japanese entrepreneurs to directly interact with Sri Lankan entrepreneurs in a much focused manner in the space of Tourism, FDIs, Trade and Export, etc.

Sri Lanka Japan Business Counciland the Japan Sri Lanka Economic Cooperation Committee will be jointly working towards Sri Lanka’s economic revival and promote trade, investment and tourism.

This was revealed on the sidelines of the visit of President Ranil Wickremesinghe to Japan last week and the round table meeting “Sri Lanka’s Economic Revival and Opportunities for Japanese Enterprise.

The Ceylon Chamber of Commerce-affiliated Sri Lanka Japan Business Council President Mahen Kariyawsan met his counterpart – Japan Sri Lanka Business Co-Operation Committee (JSLBCC) Chairman Fumihiko Kobayashi and invited them to visit Sri Lanka in the fourth quarter of 2023.

JSLBCC Secretary General Kazuto Sasaki, Itochu Corp. Chief Representative Mikinaga Hotta, Japan Chamber of Commerce and Industry representatives Masazumi Nishizawa and Katzuto Sasaki also participated in the meeting.

The Sri Lanka Japan Business Council and the Japan Sri Lanka Economic Cooperation Committee was established in 1979 and has had 19 joint committee meetings in Japan and Sri Lanka. Their main objectives are to promote trade, investment and tourism between Sri Lanka and Japan.

It is extremely necessary to generate export revenue for the country at this needy hour and the expectation of the event is to pave the path for Japanese entrepreneurs to directly interact with Sri Lankan entrepreneurs in a much focused manner in the space of Tourism, FDIs, Trade and Export, etc.

It has been further reiterated the importance of initiative taken and support extended by Sri Lankan Embassy in Japan to explore more market opportunities for Sri Lankan entrepreneurs.

The business leaders of the two countries have also agreed to ease the difficulties that can be encountered by Sri Lankan entrepreneurs expecting to enter the Japanese market.

These bottlenecks included quality standards, consistency in supply and quality, expected high standard packaging and product description, level of professionalism, trust and transparency that should be demonstrated to them, etc.

Sri Lankan Embassy in Japan is geared to even assist the Sri Lankan potential exporters with required translations of their product brochures and other communications and facilitation of explanations required for samples of products requested by Japanese buyers and even communicate back their feedback at the initial stages of interactions.

The Sri Lanka business council will explore the opportunities in the Japanese market for various products and services including ICT and tourism.

It has been revealed there are many Japanese investors interested in investing in Sri Lanka and policy consistency is a key factor in decision making and port city project opens new business opportunities for Sri Lanka.

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