Lankan High Commissioner to India, Kshenuka Senewiratne, has underscored the need for increased economic integration among the member countries of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC). She proposed establishing a BIMSTEC Free Trade Agreement (FTA) to promote regional prosperity, according to the Ceylon Chamber of Commerce.
The Ceylon Chamber of Commerce, along with its member companies, represented Sri Lanka at the BIMSTEC Business Summit held on August 6-7, 2024, in New Delhi.
The Sri Lankan delegation, led by Dr. Asanka Ratnayake, Deputy Managing Director of Hayleys Advantis, included Daminda Gamlath, President of Consumer Foods at Ceylon Cold Stores; Dr. T. Sayandhan, Director of Sunshine Healthcare and CEO of Sunshine Medical Devices & Lina Manufacturing; and Dinithi Dias, Assistant Secretary General at the Ceylon Chamber.
During the summit, the delegation conducted a dedicated Country Session that focused on key industries such as food processing, pharmaceuticals, and logistics. Special attention was given to opportunities in the processed food sector, particularly in sugar, spices, and tea. The pharmaceutical sector was also highlighted, with discussions on expanding Sri Lanka’s role in the healthcare value chain. The logistics sector drew interest for its potential in Special Economic Zones and Multimodal Transport Solutions, showcasing Sri Lanka’s strategic location and skilled workforce. High Commissioner Senewiratne welcomed participants to the session on Sri Lanka.
In addition, the Ceylon Chamber, along with other participating chambers from BIMSTEC member countries, endorsed the creation of a BIMSTEC Chamber of Commerce to further facilitate trade, investment, and tourism collaboration across the region.