The Sri Lanka-Thailand Business Council (SLTBC) elected its office bearers for 2024-2025 at the Annual General Meeting (AGM) held at the Ramada Hotel, Colombo. The event featured an insightful address by the Ambassador of Thailand to Sri Lanka, emphasizing the growing business opportunities between the two nations.
In her remarks, the Ambassador highlighted the recent signing of the Free Trade Agreement (FTA) between Sri Lanka and Thailand in February 2024, which is set to enhance trade and investment significantly. With reduced tariffs on 85% of products over the next six years, trade volume between the two countries is projected to surpass USD 300 million.
However, the Ambassador also underscored the challenges associated with phased tariff reductions and urged Sri Lankan businesses to diversify their export portfolio, focus on high-quality production, and integrate into global value chains. Thailand’s import demand for electrical machinery, agro-processing, and clean technology was identified as a key opportunity for Sri Lankan exporters.
The Ambassador further encouraged Sri Lankan companies to explore investment opportunities in Thailand, particularly in sectors like smart electronics, medical and wellness, and creative industries. Similarly, she highlighted areas in Sri Lanka ripe for Thai investment, including food processing, textiles, and pharmaceutical equipment.
To bolster bilateral cooperation, the Royal Thai Embassy, in collaboration with key trade organizations, announced a special program titled “Business Opportunities between Thailand and Sri Lanka: Food, Agriculture, and Health for Sustainable Prosperity and Well-being.” Scheduled for 2–6 February 2025 in Thailand, the initiative will feature business matching sessions, study visits, and consultative meetings with Thai trade bodies.
The AGM served as a platform to reaffirm the shared commitment to fostering economic collaboration and leveraging the FTA to achieve sustainable growth and prosperity.
Seated from left to right:
Priyantha Kolonnage ( Secretary ) , Prangtip Kongridhisuksakorn (Counsellor) , Lalith Kumarage ( Immediate Past President ), Lionel Fernando (Founder & Past President) , Dushyantha Basnayake ( President ) , Paitoon Mahapannaporn ( Thai Ambassador to Sri Lanka ) , Rizan Nazeer ( Founder & Past President ) , Kamil Weerasekara ( Vice President ) , A.M. Musajee ( Vice President )
Standing From Left to Right:
Abdul Saliheen ( Committee Member ), Asitha Panabokke ( Assistant Secretary ) , Deepal Abeysekara ( Committee Member ) , Asim Mukthar ( Treasurer ) , Rohan Elgiriyawithana ( Committee Member) , Dishan Shaminda ( Committee Member ) , Yashodha Peiris ( Assistant Treasurer )
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