The Sri Lanka High Commission, London together with the UK – Trade & Investment Northwest and the Greater Manchester Chamber of Commerce participated in a " Spotlight on Sri Lanka " event in Manchester which featured the 21-member delegation from the Hambantota District Chamber of Commerce on the November 3.
The event, attended by UK Business and Industrial Companies, was jointly organized with the assistance of the UKTI and the Greater Manchester Chamber of Commerce. Azmi Thassim, Chief Executive Officer of the HDCC, briefed the gathering on the rising investment sectors open for Foreign Direct Investment and private public partnership and joint ventures in the Hambantota district.
He also emphasized the links forged between the HDCC and the Greater Manchester Chamber of Commerce which won the best networking award for working partnership established between Manchester Solutions, the Greater Manchester Chamber of Commerce (UK) , especially since the Tsunami hit Sri Lanka in 2004.The UK Company, Manchester Solutions presently provides technical assistance to the HDCC towards strengthening its capacity to play a major role in the Economic Development Strategy for the Hambantota District. The Trade Section of the Mission provided a detailed presentation on Business Opportunities in Sri Lanka followed by a case study on Doing Business in Sri Lanka by UK Company M/s. Cargo Overseas which had established a branch office in Sri Lanka in August last year.
The UKTI North West focused on the prospects for attracting commercial opportunities in the industrial regions of Manchester, Merseyside, Cheshire, Lancashire, Cumbria which consists of over 250,000 businesses, has a population of 7 million and is ranked No. 2 International trade region in England.
Considering the importance of the North West of England as comprising a larger economy than around 10 EU State, this is the second consecutive time the Sri Lanka High Commission has concentrated in holding the "Spotlight on Sri Lanka" event in Manchester since the visit of Prof. G.L. Peiris as the then Minister of Export Development and International Trade to the region last year.
The Sri Lankan High Commission also hosted a networking reception with UK Business and Chambers of Commerce representatives for the HDCC delegation. The High Commissioner, Nihal Jayasinghe welcoming the delegation noted the pioneering nature of its establishment since 1990, its incorporation as a district chamber in 1993 ,the strategic and pivotal role it could play in the mega development and economic projects taking place in the Hambantota District.
He noted: "Today, with the dawn of peace, we are seeing a great momentum in the interest to trade and invest in Sri Lanka.
The frequency of outward business delegations to Sri Lanka has increased. UK has become the second largest market for tourists next to India, accounting for 30% of local tourist related earnings in Sri Lanka. Last Year, UK was the second largest investor in Sri Lanka at US$80 Million with total imports from Sri Lanka recording US$ 1,024 million as the second major overseas Buyer next to the USA.
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