Top German brands to boost Sri Lankan economy

Wednesday, 19 September 2018 00:00 - - {{hitsCtrl.values.hits}}

More than 100 German brands were represented during the relaunch of the fifth edition of the ‘Top German Brands in Sri Lanka’ in the presence of Development Strategies and International Trade Minister Malik Samarawickrama, German Ambassador to Sri Lanka Jörn Rohde and Delegation of German Industry and Commerce in Sri Lanka(AHK Sri Lanka) Chief Delegate Andreas Hergenroether.

The Top German Brands in Sri Lanka event was organised by AHK Sri Lanka with the support of the German Embassy at the Kingsbury Hotel on 17 September.

As Chief Guest of the evening, Minister Samarawickrama underlined the strong longstanding German-Sri Lankan business ties that exist, announcing his visit to Frankfurt, Hamburg and Berlin from 24-26 September, which is coordinated by AHK Sri Lanka.

The keynote speech was delivered by Allianz SingaporeRegional COODr. Ruediger Schaefer, who presented an analysis of current opportunities in Sri Lanka with special attention being paid to the economic development and the regional impact of the island and its economic activities.

Chief Delegate Hergenroether in his address pointed out that “as the logistics hub in South Asia and future trade hub, Sri Lanka will offer in the near future more business opportunities than ever. Hence raising public awareness of German brands as strategic partners of Sri Lankan businesses was a key objective of our institution. We are overwhelmed by the support and engagement that we got from the German brands and by their Sri Lankan partners to organise this event.”

During the event the participating top German brands had the opportunity to showcase their outstanding innovations through a promotional film series and to network. Germany, which is regarded as a world champion in industry and trade, is becoming an increasingly important business partner for the island. Sri Lankan exports to Germany grew by 13% in 2017 to € 653 million, whereas imports from Germany increased by 81% to € 570 million. The total direct investments to Sri Lanka from Germany amounted to $ 1.2 billion in total and $ 6 million in 2017.

AHK Sri Lankais part of the German Chamber Network abroad of more than 140 offices around the world. Supported by the Federal Ministry for Economic Affairs and Energy and coordinated by DIHK, the German Chambers abroad, the Delegations of German Industry and Commerce represent the interests of German businesses in their partner countries. Furthermore, they provide competent services and offer a platform to create business opportunities for both Sri Lankan and German companies.