By: Staff Writer

October 29, Colombo (LNW): In anticipation of the Free Trade Agreement (FTA) between Sri Lanka and Thailand, set to launch in January 2025, a delegation from the Sri Lanka–Greater Mekong Business Council visited Thailand.

Organized by the Ceylon Chamber of Commerce, the October 2024 mission sought to reinforce economic ties, attract foreign direct investment, and broaden trade opportunities between the two nations.

The delegation included 11 Sri Lankan business professionals across sectors such as pharmaceuticals, healthcare, tourism, agriculture, logistics, distilleries, apparel, gems and jewelry, food and beverages, and micro-financing.

These representatives engaged in interactive sessions with Thai industry leaders, gaining valuable insights into real-time operations and business practices.

The visit coincided with major trade exhibitions, LogiMAT Southeast Asia and LogiFOOD Southeast Asia 2024, held at BITEC Bangna, allowing Sri Lankan delegates to network and explore new avenues for collaboration.

 Led by Mr. Buwanekabahu Perera, Secretary General and CEO of the Ceylon Chamber of Commerce, and Mr. S.M.D. Suriyakumara, President of the SLGMBC, the mission was supported by Sri Lankan Ambassador to Thailand, Ms. E.A.S. Wijayanthi Edirisinghe.

The mission featured strategic meetings with the Thai Chamber of Commerce, the Board of Trade of Thailand, and the Thai–Sri Lanka Chamber of Commerce.

Discussions with key Thai counterparts focused on optimizing benefits from the forthcoming FTA and enhancing trade partnerships. The delegates also participated in B2B meetings facilitated by Thai trade organizations, exploring business development across various sectors.

They visited the Amata Nakorn Industrial Estate and Srithai Superware Factory to identify potential areas for technological and business collaboration.

This mission underscores the growing momentum in Sri Lanka-Thailand trade relations and demonstrates Sri Lanka’s strategic interest in Southeast Asia’s rapidly growing markets.

The delegation’s visit is expected to lay the groundwork for a productive trade environment as the FTA comes into effect, signaling a promising future for bilateral economic cooperation.

 As of 2024, Sri Lanka and Thailand are gearing up for the implementation of a Free Trade Agreement (FTA) set to take effect in January 2025. 

The agreement is anticipated to significantly boost bilateral trade, which has shown steady growth in recent years. 

Currently, Sri Lanka exports a range of goods to Thailand, including tea, gems, jewelry, seafood, and rubber, while Thailand exports electronics, machinery, vehicles, chemicals, and textiles to Sri Lanka.

Trade between the two countries remains asymmetrical, with Thailand holding a larger export volume. In 2023, the trade balance was heavily in Thailand’s favor, though both governments are working to increase Sri Lankan exports to Thailand and diversify trade activities. This is expected to bridge the trade gap and promote more balanced economic cooperation.