Thursday Nov 21, 2024
Thursday Nov 21, 2024
Thursday, 21 November 2024 00:00 - - {{hitsCtrl.values.hits}}
At a roundtable discussion organised by the Chamber of Young Lankan Entrepreneurs (COYLE) recently, Ambassador of the United Arab Emirates (UAE) to Sri Lanka Khaled Nasser Al Ameri highlighted the importance of deepening bilateral ties between UAE and Sri Lanka, as well as exploring new opportunities for Sri Lankan entrepreneurs in the UAE in driving technology, digitisation, trade and tourism.
Delivering the keynote at the Cinnamon Lakeside Colombo on 12 November, Ambassador Al Ameri highlighted key opportunities for COYLE members to leverage the UAE’s competitive advantages. He cited Sri Lanka’s $ 110 million in 2022 tea shipments to the UAE, emphasising his country’s special status as a re-export hub that provides tax breaks and cutting-edge blending and packaging facilities.
Addressing the entrepreneurs, the Ambassador said: “The UAE is dedicated to developing strong relations with Sri Lanka. Our strategic location, investor-friendly policies for foreign investors, and vibrant economy present endless opportunities for Sri Lankan companies to grow and prosper in the UAE. We must also focus on expanding beyond traditional commodities to include trade in services such as IT, Business Operations Management (BOM), finance, and insurance. Additionally, we should prioritise innovation by developing health-related products to cater to the growing demand from health-conscious consumers.”
He added, “We already have a growing community of Sri Lankan businesses operating and benefiting from the services and facilities the UAE provides. But, there are countless more opportunities for entrepreneurs and businesses from Sri Lanka to join and take advantage of in the UAE.”
The Ambassador further encouraged Sri Lankan entrepreneurs to explore cutting-edge industries that are flourishing in the UAE, like renewable energy, fintech, and logistics. “Technology and digitisation are essential to the future of global commerce, and by collaborating with the UAE, Sri Lankan businesses can play a crucial role in this transformation,” he added.
During the discussion, COYLE also requested the Ambassador to connect them with a suitable chamber in the UAE that would enable both parties to explore and bring business opportunities from the UAE to Sri Lanka.
The possibility of strengthening tourism ties between the two countries was also discussed. Ambassador Al Ameri highlighted the need for the island nation to better market Sri Lanka’s cultural and natural resources as the country’s tourism offerings are still not well-known among UAE tourists.
Given Sri Lanka’s proximity to India and evolving infrastructure, and as it holds immense promise as a regional partner in the Indian Ocean, the meeting also touched upon Sri Lanka’s strategic location, and its numerous opportunities as a regional player.
The event which was a reaffirmation of both nations’ shared commitment to fostering economic innovation and mutual prosperity, concluded with a vote of thanks by COYLE, who expressed their appreciation to the UAE’s continued support for Sri Lankan entrepreneurs and businesses.
