National Chamber successfully concludes bilateral session with South Africa

Saturday, 12 August 2023 00:00 - - {{hitsCtrl.values.hits}}

The session on ‘Bilateral Trade & Investment between Sri Lanka & South Africa’ organised by the National Chamber was successfully concluded recently at the National Chamber Auditorium with a large gathering of business community, and Government officials.

National Chamber President Deepal Nelson welcomed High Commissioner of South Africa in Sri Lanka Sandile Edwin Schalk (Special Guest Speaker), Third Secretary Political Zanethemba Tshangela, Sri Lankan High Commissioner in South Africa Prof. Gamini Gunawardane, Second Secretary Thiloka Perera, and special invitees who attended representing EDB, BOI, Department of Commerce, Ministry of Foreign Affairs Sri Lanka, Ministry of Industries, IDB, National Craft Council and the media entities.

Speaking to the gathering the Guest Speaker of the event Sandile Edwin Schalk briefed the business possibilities in South Africa for Sri Lankan companies. He informed that South Africa is having a 60.1 million population, exports $ 121 billion (2022) and imports $ 93 billion (2022). South Africa’s $ 468.5 billion economy is the 33rd largest in the world. The economy is highly diversified from a sectoral perspective and the most developed and technological advanced economy in Africa. Foreign Direct Investment (FDI) inflows have increased substantially since the onset of democracy, with FDI stock representing 36.3% GDP in 2019 as compared with 6.6% in 1994.

Sri Lankan High Commissioner in South Africa Prof. Gamini Gunawardane connected virtually and stated that business to business interaction between the two countries should grow further. Sri Lankan High Commission in South Africa Second Secretary Thiloka Perera, who also connected online explained about the role of the Sri Lanka High Commission in South Africa. Sri Lankan companies already active in South Africa are BoardPAC, Virtusa, LOLC Finance Zambia Ltd., Ranfer Teas Central Africa, Basilur Tea, Camso, Rank Entertainment Holdings Ltd., and Dilmah Tea.