SL-Malaysia Business council strives to further improve bilateral business ties

SL-Malaysia Business council strives to further improve bilateral business ties

12 September 2021 10:47 am

The Sri Lanka-Malaysia Business council is striving to make some contribution towards further improving business ties between the two countries, which would go some way towards minimizing the imbalance in bilateral trade.

The High Commissioner of Malaysia to Sri Lanka Tan Yang says that Sri Lanka and Malaysia. must strive to continue to further strengthen the economic cooperation and business ties  between the two countries

Gracing the 27th Annual General Meeting of the Sri Lanka - Malaysia Business Council of the Ceylon Chamber of Commerce Virtually he noted that “we need to be thinking out of the box, in  more adventurous and innovative in overcoming  present Covid-19 challenges

Many businesses have been badly affected and the world economy is suffering tremendously. Malaysia is always ready to lend assistance to Sri Lanka business sector despite the constant threat of the covid-19 pandemic in the past 1 ½ years.

There are vast opportunities and economic sectors in Sri lanka and Malaysia which remain untapped. We should undertake our best efforts to bring trade delegations and organize meetings with potential business partners.

 SLMBC should continue to be the bridge between the business sectors of the  two countries, he said.

“Bilateral trade between our two nations continues to be badly affected due to the covid-19 pandemic. Malaysia’s total bilateral trade with Sri Lanka was at an all-time high of USD 929.1 million in 2019, with 19.3 percent growth, which is the highest in the South Asia region for that year.

However, due to the pandemic, total bilateral trade for 2020 dropped significantly to reach slightly over USD 600 million.  He noted that he would like to re-emphasize that Malaysia still regard Sri Lanka as an important trade and investment partner in the South Asian region..  

The outgoing President of SLMBC, Keerthi Jayasuriya said; they hoped to make some contribution towards further improving business ties between the two countries, which would go some way towards minimizing the imbalance in trade between the two countries.