Sri Lankan businessmen keen on PH

Sri Lankan businesses are eyeing trade and investment opportunities in the Philippines given the huge potentialin the country.

The Sri Lanka-Philippine Business Council and the Philippine Chamber of Commerce and Industry recently signed a memorandum of understanding for stronger business cooperation between the two groups.

Some 130 executives attended a high-level CEO Break Forum organized by the Council in Colombo where they highlighted the Philippines as an attractive trade and investment destination, according to the Philippine Trade and Investment Center (PTIC) in New Delhi, India.

“We see much potential in trade and economic cooperation between the two countries, and much has to be done to increase the bilateral trade between the two countries, currently standing at around $40 million,” said Vicente VicencioBandillo, Philippine ambassador in Dhaka, who recently joined a high-level business delegation from Colombo in Manila.

“We recognize and laud the efforts of the Philippine Honorary Consulate in Colombo and the Sri Lanka-Philippine Business Council for the consistent strong interest shown in representing the Sri Lanka business community to do business with the Philippines,” Bandillo added.

Michael Alfred Ignacio, who heads PTIC in New Delhi, as the official representative of the Department of Trade and Industry in the south Asia region, presented the strategic advantages of partnership with the Philippines for Sri Lanka businesses looking to expand to and access overseas markets both for high potential investments and trade.

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