Norway to foster trade relations with SL

From Left Sri Lanka-Nordic Business Council Vice President Nuzackir Nadim, Royal Norwegian Ambassador Thorjorn Gaustadsaether, Sri Lanka-Nordic Business Council President Bobby Hansen, The Ceylon Chamber of Commerce Secretariat Patali Karunarathne, Sri Lanka-Nordic Business Council Past President Nazvi Hassan and Sri Lanka-Nordic Business Council Vice President Merrick Gooneratne

• Norwegian envoy highlights maritime, tourism, ICT and renewable energy as potential sectors

By Charumini de Silva

Given the new political situation in Sri Lanka, Norway has increased its political interest in the country’s economy and would continue to focus on business promotion next year, the Norwegian envoy said recently.

Speaking at the Sri Lanka – Nordic Business Council of the Ceylon Chamber of Commerce Annual General Meeting (AGM) held on Thursday Norwegian Ambassador Thorbjørn Gaustadsæther outlined maritime, tourism, ICT and renewable energy as emerging and potential areas for business partnerships between Sri Lanka and Norway.

He pointed out that frequent engagement with the council was a great opportunity for him to have a deeper understanding and interact with the business community to increase trade.

“As the Ambassador I have a major concern to attract Norwegian investments to Sri Lanka or create partnerships between the two countries,” he said.

He noted that the businesses already established here have created considerable attention and economic return to Sri Lanka insisting further strengthening of relationship between the countries.

“It is not only to increase business relations, wealth creation and creation of employment between Nordic countries and Sri Lanka, but also to strengthen relationship in a broad sense,” he added.

With the Government of Sri Lanka shown its commitment towards moving to renewable energy sources, the Ambassador emphasised there were quite a number of companies who are experts in the sector, which could be turned into potential corporations. 

He acknowledged that they have also embarked on a technical program with the Fisheries Ministry in Sri Lanka.

Sri Lanka – Nordic Business Council President Bobby Hansen said under her leadership a number of measures to promote bilateral trade between Sri Lanka and Nordic countries will be adopted in the year ahead.

“New opportunities are available, but they must be explored. I am sure the Nordic Business Council can play a key role in facilitating these businesses and markets for members,” she said confidently.

In the meantime Merrick Gooneratne and Muzackir Nadim were appointed as the new Vice Presidents of the Council at the AGM. Sri Lanka – Nordic Business Council was formed in April 2001 with a primary objective of promoting trade, investment tourism and services between Sri Lanka and the Nordic countries (Norway, Sweden, Denmark and Finland) and to promote mutual understanding and to strengthen relations between Sri Lanka and the Nordic countries.

Sri Lanka – Norway Industrial Co-operation, also known as the ‘Matchmaking Program’ representative said although the funding had stopped for two years, the program is still functioning with investment opportunities were mainly explored in the areas of ICT, renewable energy and trading.

Despite the funding has stopped since 2014, it was pointed out that export credit facility awarded by Norwegian Bank for joint ventures with low interest rates have been helpful for companies to set up and expand businesses. The initial objectives of the matchmaking program were to establish sustainable and profitable joint ventures between Norwegian and Sri Lankan counterparts to foster transfer of technology, exchange of management and business skills.

Pix by Daminda Harsha Perera