Israel-Asia Chamber of Commerce explores trade opportunities in Sri Lanka | Sunday Observer

Israel-Asia Chamber of Commerce explores trade opportunities in Sri Lanka

10 September, 2023

Ms. Anat Bernstein-Reich, President of Israel-Asia Chamber of Commerce cum Chairperson / Israel-Sri Lanka Chamber of Commerce met Chairman of the Sri Lanka Export Development Board (EDB) Dr. Kingsley Bernard recently.

This meeting was initiated by the Ambassador of Sri Lanka in Israel, M.H.M. Nimal Bandara.

The Sri Lankan delegation was represented by Additional Secretary of Foreign Ministry of Sri Lanka, Mrs. Shanika Dissanayake, Senior EDB officials as well as representatives of private sector companies from Sri Lanka’s export community. The participants had a fruitful discussion to explore avenues to promote trade and economic cooperation between Israel and Sri Lanka.

The deliberations were aligned with the efforts of the Sri Lankan Embassy in Israel to maximise opportunities for Sri Lanka’s dynamic private sector and create a fertile ground for export businesses.

Ms. Anat Bernstein highlighted the substantial potential that lies within various sectors.

She underscored the surging demand for high-tech, medical, pharmaceutical, and electronic products, noting that these segments present ample investment prospects while stressing that Israel’s renowned expertise and advanced solutions in these fields could be harnessed to create fruitful partnerships in the future. Furthermore, Ms. Bernstein identified sustainable agriculture, electronic products, and IT services as high-potential areas where Sri Lanka and Israel can forge new partnerships.

The delegates also discussed about organizing business delegations and mutual visits, highlighting the importance of face-to-face interactions in building strong business relationships. To provide a platform for comprehensive discussions, a joint business forum will be convened during 2024, bringing together stakeholders from both nations.

The officials of private sector companies Nelna Agri Development, Orel IT, Galgo from Ceylon and M/S Zahir Raheem took part in the discussion.An understanding was reached to strengthen connections with the Israeli business community with the support of Ms. Bernstein, and it was proposed to organise sector-wise activities such as B2Bs, outward/ inward delegations, participation in each other’s’ events, startup mentoring programs, technology transfers, export-led investments, etc. Both nations look forward to a future of expanded cooperation, and these efforts are poised to create enduring partnerships in addition to capitalizing on the abundant opportunities that lie ahead.