Forum charts way forward for Sri Lanka-Japan bilateral trade and investment

A forum titled ‘Sri Lanka-Japan: The way forward in bilateral trade and investment’ which was jointly organised by the Sri Lanka-Japan Business Council of the Ceylon Chamber of Commerce (SLJBC) and the Japan Chamber of Commerce and Industry in Sri Lanka (JCCI-SL) was held recently at Granbell Hotel Colombo.

The welcome address was made by Sri Lanka-Japan Business Council President Mahen Kariyawasan, followed by addresses by Ambassador of Japan to Sri Lanka Hideaki Mizukoshi and Ambassador of Sri Lanka to Japan Rodney Perera, who joined online. 

In his presentation on the JCCI-SL, which was established in 1987, Chairman Hideaki Tanaka provided an update on the membership of the JCCI-SL, which comprises of 78 members, which are Japanese companies that have invested in Sri Lanka in the manufacturing, construction, and trade and services sectors. 

In the presentation on the SLJBC made by Kariyawasan, it was highlighted that the Japan-Sri Lanka Business Corporation Committee and the Sri Lanka-Japan Business Corporation Committee, as the Council was formerly known were jointly inaugurated on 24 August 1979 in Colombo. The membership of the Council is currently comprised of 100 Sri Lankan companies that are actively engaged in business with Japan. 

Board of Investment of Sri Lanka Director General Renuka Weerakone made a speech, which was followed by a presentation made by Executive Director – Investment Promotion Prasanjith Wijayatilake. The presentation highlighted that the FDI Inflow from Japan from the year 2011 the year 2021 was $ 420 million. This was followed by a speech by Sri Lanka Export Development Board Chairman Suresh de Mel, on how the EDB can help facilitate existing Japanese investors in Sri Lanka. 

The panel discussion with Rodney Perera, Hideaki Mizukoshi, Kariyawasan, and Tanaka, which was moderated by Savithri Rodrigo, dwelled deeper into investment opportunities available for Japanese investors in Sri Lanka and what needs to be done to address current issues faced by them to make Sri Lanka a more attractive destination for Japanese investors. 

JETRO Sri Lanka Resident Representative Hiroki Oi briefed the gathering on the segments of tourists in Japan that are looking to visit Sri Lanka, while Sri Lanka Tourism Promotion Bureau (SLTPB) Chairman Chalaka Gajabahu presented the initiatives taken by Sri Lanka to attract Japanese tourists into the country. Next, Hideaki Mizukoshi made a brief presentation on Osaka-Kansai EXPO, which Japan will be hosting in the year 2025. 

The Sri Lanka-Japan Business Council website, which can be accessed at https://srilankajapanbiz.lk, was launched by Ambassador Hideaki Mizukoshi at this event. The forum was followed by a highly interactive networking reception.