By: Staff Writer
August 15, Colombo (LNW): The Commonwealth Enterprise and Investment Council (CWEIC) has inaugurated its Sri Lanka centre, marking a significant advancement in promoting trade and investment within the Commonwealth.
This initiative, developed in partnership with the Sri Lankan Government, aims to expand trade and investment opportunities while strengthening connections among Commonwealth member nations.
The newly established hub will act as a gateway for Sri Lankan businesses to explore new markets within the Commonwealth, thereby encouraging foreign direct investment (FDI) into the country.
It will also serve as a platform for corporate leaders and officials to network, collaborate, and exchange best practices.
Currently, CWEIC includes six members from Sri Lanka, including the government. As the Commonwealth’s business network, CWEIC was created to foster trade and investment among its 56 member countries, uniting businesses and governments to promote economic growth and development.
Lord Jonathan Marland, Chairman of CWEIC, expressed his enthusiasm for the new Sri Lanka hub, describing it as a crucial step in connecting businesses across the Commonwealth. He highlighted Sri Lanka’s strategic location and renewed focus on international trade, making it an ideal choice for this new centre.
State Minister for Investment Promotion, Dilum Amunugama, commended the initiative, noting that it reflects Sri Lanka’s increasing commitment to multilateralism. He emphasized that the hub will open new opportunities for local companies and demonstrate Sri Lanka’s dedication to creating a favorable environment for international investors.
Niro Cooke, CWEIC Sri Lanka Chair, also shared his optimism, stating that the hub will significantly bolster efforts to position Sri Lanka as a key player in global trade and investment. He believes that the centre will enable vital connections and partnerships, enhancing export trade, fostering innovation, and creating growth opportunities across various sectors of the economy.
The launch event, attended by prominent business leaders, investors, and officials, underscores the Sri Lanka hub’s potential to strengthen the country’s trade links and investment prospects. It is expected to play a pivotal role in supporting economic diversification and long-term prosperity.
