Italy holds the top position as both the primary trading partner and export destination for Sri Lankan products within the EU region, making it the most crucial country for Sri Lanka in terms of trade within the European Union.
Sri Lankan Ambassador in Rome, Italy Jagath Wellawatte attending the National Chamber of Commerce of Sri Lanka (NCCSL) hosted ‘A session to explore bilateral trade opportunities between Sri Lanka and Italy’ in Colombo last week he highlighted the low level of Sri Lanka’s participation in trade fairs organized in Italy and said this should increase.
Counsellor (Commercial), Sri Lanka in Milan Tharaka Botheju, said that Italy stands out as Sri Lanka’s primary trading partner within the EU, serving as both a key export destination and a second home to many Sri Lankan expatriates.
She also spelt out niche opportunities in supplying components to Italy’s automobile industry and meeting the demand for Sri Lankan culinary traditions and Ayurvedic products in Italy.
Additionally, recognizing the importance of diversifying Sri Lanka’s export basket beyond textiles and apparel, she emphasized the strategic value of participating in trade fairs like Host Milano to showcase a range of Sri Lankan products, including Ceylon Tea, cosmetics, spices, and herbal-based goods. Italian Ambassador in Sri Lanka, Damiano Francovigh emphasized about the present economy in Italy and its trade interaction with Sri Lanka and elaborated on statistics on various aspects including the growing SME sector and leading business sectors for growth; international connectivity; subnational strength; and bilateral relations.
He also highlighted the significant presence of Italian investors in Sri Lanka, with more than 15 on-site businesses playing a vital role in the local tourism sector and fashion garment industry.
NCCSL Chairman Deepal Nelson noted that it is extremely necessary to generate export revenue for the country at this needy hour and the event expects to pave the path for Italian entrepreneurs to directly interact with Sri Lankan entrepreneurs in a focused manner in the space of Tourism, FDIs, Trade and Export, etc.
The Sri Lankan business community gathered at the session extensively engaged with the Ambassador in clarifying regarding the business opportunities available in Italian markets.
