Tuesday, August 18, 2020

Thai PM says they are ready to support Sri Lanka’s economic development

 

Thailand's Prime Minister Gen. Prayut Chan-o-cha remembering the close bilateral ties between the two countries, told Thailand's support for development efforts in Sri Lanka. He made those remarks when on February 3 at the Government House in Bangkok Ambassador Samantha K. Jayasuriya, Sri Lanka's envoy to the Kingdom, issued a courtesy call to him.

During the meeting, Ambassador Jayasuriya conveyed President Gotabaya Rajapaksa's greetings and noted that the friendship between Thailand and Sri Lanka, deeply entrenched in the Theravada Buddhist traditions, extends many centuries and assures her full cooperation and constructive commitment to deepen the socio-cultural relationships further.

She for assistance to become a Sectoral Dialog Partner (SDP) in ASEAN in Sri Lanka. Ambassador Jayasuriya also highlighted Sri Lanka's steps towards this end through maritime security initiatives, capacity-building support for the region's emerging countries. General Prayut, while remembering his successful visit to Sri Lanka in 2018, said Thailand is ready to assist Sri Lanka in its growth and will extend support, particularly in agriculture, technical cooperation and tourism.

He recapped the importance of completing the proposed FTA between the two countries, which would allow Thailand and Sri Lanka to expand trade and investment. The Prime Minister also noted the exchange of sacred relics that contribute to strengthening cultural and religious relations between the two nations.

The meeting was held cordially with the participation of senior PM officials including PM Deputy Secretary-General Bansarn Bunnag and senior Thai Foreign Ministry officials, while Chancery Head Poornima Gunasekera accompanied the Ambassador, First Secretary (Commerce) Anil Sirimanna and Second Secretary Saritha Ranatunga.

OSL Take: Sri Lanka and Thailand enjoy strong bilateral and trade ties that have been further strengthened by the FTAs between the two countries.

 All this has resulted in many joint ventures/partnerships formed between Sri Lankan and Thailand businesses. Sri Lanka’s strategic geographical positioning in the Indian Ocean, its ease of doing business environment, and the several trade agreements, as well as trade concessions enjoyed by the country, have made Sri Lanka the ideal business destination in the South Asian region.

Foreign businesses/investors looking at doing business with India could explore the possibility of setting up base in Sri Lanka. Also, Indian businesses/investors could confidently explore business opportunities in Sri Lanka as well as look at forming partnerships with local companies and vice versa.

 VBS/AT/18082020/Z_TB1

 

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