Seychelles and Sri Lanka host trade and investment forum |01 September 2014

The Seychelles-Sri Lanka Trade and Investment Forum jointly organised by the Export Development Board of Sri Lanka and the Seychelles Investment Board (SIB) took place on August 27 at the Export Development Board Conference Centre in Colombo.

More than 150 companies from various sectors of Sri Lanka's business community attended, including from the food and beverage industry, furniture, building materials, rubber and plastics products.

The Seychelles delegation, led by the Minister for Finance, Trade and Investment Pierre Laporte, included the Seychelles high commissioner to Sri Lanka, Waven William; principal secretary for tourism, Anne Lafortune; SIB chief executive Rupert Simeon; chief executive of the Islands Development Company GlennySavy; Aubrey Lesperance from the Seychelles Fishing Authority; representatives of the Seychelles Trading Company and of the private sector. Roy Fonseka, the Sri Lankan consul in Seychelles, also attended.

Besides presentations from the Seychelles delegates, there were also presentations from the respective chief executives of the Bank of Ceylon and Mihin Lanka.

Both pointed to better than expected results in the first few months of operations in Seychelles.

In presenting his company’s strategy for Seychelles the Mihin Lanka chief executive confirmed that the airline will as from October this year increase its frequency to Seychelles to three weekly flights.

On the sidelines of the forum, Minister Laporte met the Minister for Industry and Commerce, Rishad Bathiudeen, and both ministers affirmed their willingness to enhance trade cooperation between the two countries.

Minister Bathiudeen has expressed his intention to visit Seychelles later this year together with a trade delegation with a view to strengthening the framework for enhancing trade between Seychelles and Sri Lanka.
 
Minister Laporte also met the Minister for Fisheries and Aquatic Resources, Rajitha Senaratne. Both ministers agreed on extending cooperation in aqua and mari-culture, capacity building and other support to the Seychelles’ fisheries.

Minister Laporte also visited some major private sector players in Sri Lanka, including Nestle Lanka and Hayleys PLC, the latter a company involved, among other things, in supply support to the oil and gas exploration industry, tourism, agriculture, waste collection, freight forwarding.

During this meeting, discussions included the possible use of Sri Lanka's Freeport for transit of goods coming to Seychelles that could increase the frequency for container vessels from Sri Lanka.

Possible logistical support to companies exploring for oil and gas in Seychelles' EEZ was also discussed.