Yunnan business delegation explores trade, investment opportunities in Sri Lanka

A business delegation from China’s Yunnan Province has explored opportunities for expanding trade, investment and commercial partnerships with Sri Lankan companies across several sectors.

The delegation, led by the Yunnan Provincial Federation of Industry and Commerce, held discussions with the Ceylon Chamber of Commerce and its Sri Lanka-China Business Council (SLCHBC) on October 28.

The Chinese delegation comprised representatives of companies engaged in pharmaceuticals and healthcare, agriculture, dairy, industrial machinery, construction materials, information technology, steel, tea, food manufacturing, hospitality and logistics.

Welcoming the delegation, Ceylon Chamber Secretary General and CEO Shiran Fernando said the visit came at a timely stage as Sri Lanka moved beyond economic stabilisation and focused on growth.

He said direct engagement between companies could help identify areas of common commercial interest and develop new business relationships.

The President of the SLCHBC said there was considerable scope for Sri Lanka to increase exports to China and diversify the range of products entering the Chinese market.

Sri Lanka’s export basket remained concentrated in a relatively small number of products, he said, adding that engagements with Chinese businesses could help local companies identify new buyers, explore market opportunities and establish commercial partnerships.

He identified agriculture, food processing, healthcare, manufacturing, technology, engineering and tourism as potential areas for increased cooperation.

Head of the delegation and Executive Vice Chairman of the Yunnan Provincial Federation of Industry and Commerce Pan Hongwei said there was growing potential for economic cooperation between Sri Lanka and China.

He referred to existing trade in agricultural products, pharmaceuticals, gems and rubber products, while highlighting Yunnan’s position as China’s largest coffee-producing region as another potential area for agricultural and related industrial cooperation.

The discussions also enabled participating companies to exchange information on their products, capabilities and business interests in the two markets.

The Ceylon Chamber said through its SLCHBC, it continued to facilitate direct links between Sri Lankan businesses and international counterparts, helping local companies explore new markets and pursue trade and investment opportunities.