Promoting Sri Lanka’s fisheries and aquaculture sector to Philippine business conglomerates: Exploratory meeting with the Frabelle Group of Companies

In pursuing initiatives to promote trade and investments in Sri Lanka’s priority industries to Filipino business conglomerates, the Embassy of Sri Lanka in Manila virtually met with the Frabelle Group of Companies to discuss potential engagements in line with the company’s interest to venture into the Sri Lankan fisheries and aquaculture sector through various business ventures.

The dynamic discussion stemmed from an initial introduction of the company to the Embassy facilitated by Mr. William Chen, the newly-appointed Honorary Consul of Sri Lanka in Mindanao, Philippines.

Ambassador of Sri Lanka to the Philippines Shobini Gunasekera provided a brief overview on the business opportunities for a conglomerate like the Frabelle Group in this particular sector such as sourcing of fish and seafood products, commercial fishing, and fish processing activities in the country. Citing the demand in the Philippines, she encouraged the conglomerate to pursue these mutually-beneficial ventures with the facilitation of the Embassy and other relevant stakeholders in Sri Lanka.

Mr. Francisco Tiu Laurel Jr., Chairman of the Frabelle Group of Companies, expressed his interest to study the opportunities presented. He attested to the superior quality of Sri Lankan seafood products which his company has been importing in the last few years. In addition, he also relayed his interest to explore the possibility of establishing fishing operations and frozen fish processing for exports.

An exploratory visit to Sri Lanka by the company in the first quarter of this year to meet with the Ministry of Fisheries is currently being planned.