SL prepares high-powered delegation for Tehran trip later this month

Minister of Industry and Commerce Rishad Bathiudeen and Deputy Head of Mission of the Embassy of the Islamic Republic of Iran in Colombo M.R. Ahmadi 

Sri Lankan officials began work on putting together one of the strongest national business delegations to be flown to Iran at short notice.

“President Maithripala Sirisena’s forthcoming tour of Iran could open many new doors of opportunities for Lankan businesses,” said Minister of Industry and Commerce Rishad Bathiudeen. 

Minister Bathiudeen was addressing a team of officials from the Ministry of Industry and Commerce, including those from the Department of Commerce, EDB, the BOI, Tea Board, Ceylon Chamber of Commerce, National Chamber of Commerce and Foreign Ministry on 3 January at the Ministry of Industry and Commerce. 

The session was the preparatory meeting with top officials to formulate a high-powered Sri Lankan business delegation which will accompany President Sirisena on his tour of Iran planned for later this month. The objective of the visit is to explore bilateral trade, investment and tourism potential, topped up by a business forum. Joining the session was the Deputy Head of Mission of the Embassy of the Islamic Republic of Iran in Colombo, M.R. Ahmadi. Minister Bathiudeen is scheduled to lead the Lankan business delegation.

“Iran-Sri Lanka relations have strengthened in the recent years but bilateral trade growth has not met our expectations despite the end of sanctions. In fact, in 2015, our total trade with Iran was $ 162 million, a small amount in comparison to previously higher trade levels. Let us collaborate for a strong trade delegation to Iran consisting of representatives from Lankan exporters, importers, manufacturers and service providers so that Sri Lanka can leverage this opportunity. I believe that we should not only send a business delegation and just make speeches but also make joint business presentations with our Chambers to Iranian investors and also schedule several B2Bs so that this visit is leveraged well for the business sector of the country.” 

Deputy Head of Mission Ahmadi stressed the surge in interest on the Iranian side on the forthcoming meet. “Our Ministry of Industry and Commerce and business Chambers also started work on your arrival in Tehran,” Ahmadi. 

“We look forward to exploring a wide range of sectors for cooperation during this meet. We believe the planned business forum during this event could also bring in new openings,” he added.    

Prior to sanctions, bilateral trade between Sri Lanka and Iran stood at $ 1.6 billion (2011), but in 2015 it totalled $ 162 million, of which $ 155 million were exports to Iran from Sri Lanka. 85% of such exports were Ceylon Tea, followed by coconuts, bananas, spices, etc. Minister Bathiudeen and the Department of Commerce believe that there exists great future potential for Sri Lankan-made apparel, rubber products, gem and jewelry and food and beverages.