Commonwealth Enterprise and Investment Council sets up Sri Lanka Hub

Wednesday, 14 August 2024 00:02 - - {{hitsCtrl.values.hits}}

The Commonwealth Enterprise and Investment Council (CWEIC) has announced the establishment of its Sri Lanka centre, which marks a key milestone in the Commonwealth’s efforts to promote trade and investment in the country.

This strategic effort, launched in collaboration with the Sri Lankan Government, intends to increase trade and investment opportunities while enhancing ties among Commonwealth member countries

The hub will serve as a gateway for Sri Lankan enterprises to enter new markets inside the Commonwealth, encouraging foreign direct investment (FDI) to the country. It will provide as a venue for corporate executives and officials to network, collaborate, and share best practices.

CWEIC now has six members in Sri Lanka, including the Government.

CWEIC is the Commonwealth’s business network, which was founded to encourage trade and investment among its member countries.

CWEIC brings together businesses and governments to promote economic growth and development in the Commonwealth’s 56-member nations.

WCEIC Chairman Lord Jonathan Marland expressed his support for the construction of the Sri Lanka hub. “The opening of the Sri Lanka hub is a critical step in our ambition to connect businesses across the Commonwealth. Sri Lanka’s strategic location and renewed commitment to promoting international trade make it an excellent choice for our newest centre. We are thrilled to collaborate with the Sri Lankan Government and local enterprises to foster a dynamic environment for enterprise and investment.”

State Minister for Investment Promotion Dilum Amunugama praised the initiative: “The establishment of the Commonwealth Enterprise and Investment Council base in Sri Lanka demonstrates our country’s growing commitment to multilateralism. This program will provide new opportunities for local firms and demonstrate our commitment to fostering a welcoming climate for international investors. We look forward to using this platform to drive long-term economic growth and development.”

CWEIC Sri Lanka Chair Niro Cooke also offered his opinions about the occasion. “We are delighted to witness the construction of the CWEIC hub in Sri Lanka. This will surely help our attempts to promote Sri Lanka as a major player in international trade and investment. The centre will allow significant connections and partnerships that can boost export trade, foster innovation, and provide growth prospects in a variety of sectors of our economy.”

The ceremonial launch of the Sri Lanka hub last week was attended by several significant business executives, investors, and officials. The Sri Lanka hub is projected to play an important role in improving the country’s trade links and investment prospects, contributing to the larger aims of economic diversification and long-term prosperity.