Tuesday, 22 October 2013 00:47
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The Brussels region, a hive of European Union commercial activity and decision making, is looking to further strengthen its trade ties with Sri Lanka directly.
“I will be visiting Sri Lanka in November this year with a Belgium biz delegation which will have many firms from the Brussels region. This visit would be a good opportunity to explore bilateral trade potentials in several identified areas,” revealed Celine Fremault, the Brussels Regional Minister in Charge of Economy, Employment, Scientific Research and Foreign Trade, recently.
Fremault was addressing Minister of Industry and Commerce Rishad Bathiudeen during her bilateral meeting with Bathiudeen on 7 October in Brussels.
Fremault is a member of the five-member Cabinet of the Brussels Capital Autonomous Region, which, in addition to being the capital city region of Belgium, also has international relations authority of its own.
According to the Department of Commerce of Sri Lanka, Belgium has become the fourth largest destination of Sri Lanka’s exports to the world last year, while becoming the 11th largest supplier to Sri Lanka. The total trade turnover in 2012 stood at $ 826 m, a 65% increase from $ 501 m in 2005.
Leading Belgium companies such as United Tobacco Process Ltd., CFE Ltd. and BESIX are already successfully operating in Sri Lanka. United Tobacco Processing whose investment in Sri Lanka exceeds Euro 15 m is moving to double its investment here.
Minister Fremault’s delegation to Colombo is expected to consist of 10 firms from Brussels and Walloon regions.
“We are also looking to share the experience of those Belgian companies that have already established in Sri Lanka. This will be of importance to my delegation,” Fremault stressed.
“We shall extend our fullest cooperation to your delegation,” said Bathiudeen. “I also extend our invitation to the Brussels region to take part in the Commonwealth Business Forum and in the International Exhibition ‘Reflection Sri Lanka’ arranged alongside the CHOGM 2013 Summit in November. This exhibition will have a special facility to showcase heavy machinery and high tech equipment, which can be used in the Sri Lankan business sector, which will be of interest to the Brussels region as it has the expertise in those sectors. Both Belgium and Sri Lanka have the outlook of a trade hub which is supportive for bilateral investment cooperation.”
