Foreign Minister inaugurates IORA Business Conclave

Saturday, 1 June 2024 00:59 - - {{hitsCtrl.values.hits}}

Foreign Affairs Minister M.U.M. Ali Sabry in his capacity as the current Chair of the Indian Ocean Rim Association (IORA) inaugurated the “IORA Business Conclave” on 28 May at the Shangri-La Hotel in Colombo.

The Business Conclave under the theme “Sustaining Growth – Bridging Horizons” was organised by the Ceylon Chamber of Commerce as the current Chair of the IORA Business Forum (IORBF) in collaboration with the Ministry of Foreign Affairs from 28-29 May. Over 80 participants from the business fraternity across the IORA region participated in the Conclave. This is the highest number of participants recorded at an IORA Business Conclave.

Addressing the gathering, Minister Ali Sabry stated that Sri Lanka under its chairmanship is actively working towards promoting the concept of the Blue Economy and will work towards harnessing sustainable opportunities in ocean related industries with the goal of stimulating economic growth. He also added that enhancing regional connectivity through infrastructure also remains a priority for Sri Lanka stating that Sri Lanka is looking at entering into as many Free Trade Agreements to gain greater market access.

The keynote speech was delivered by Global Alliance for a Sustainable Planet Secretary General Satya Tripathi where he highlighted the importance of collaboration with private sector businesses to harness resources. IORA Secretary General Dr. Salman Al Farisi in a pre-recorded message stated that the initiative of the Business Conclave was timely, highlighting the Chair’s commitment to strengthen collaboration between the business communities. Ceylon Chamber of Commerce Chairman Duminda Hulangamuwa in his welcome address commented that the Trade Agreements Sri Lanka was entering into would pave the way for increased investment and trade, helping Sri Lanka to develop further.

During the two-day event, the Business Conclave focussed on key thematic sectors of Agriculture, ICT, Logistics, Tourism, Renewable Energy, SME Development and Women’s Entrepreneurship with B to B networking sessions.