The very first
EgyptAir Cargo flights, Egypt's national freighter, landed consecutively on 2
and 5 August at Bandaranaike International Airport. With a total of 188 tonnes
of Sri Lankan items, the freighters departed BIA for export destinations
worldwide, benefiting from EgyptAir's extensive global network. Ambassador El
Saharty praised the efforts of both Forwardair Aviation (EgyptAir's Cargo
General Sales Agent in Sri Lanka) General Sales and Operations Manager Sunil
Adikaram and his efficient team on the one hand, and EgyptAir Cargo's team in
Cairo on the other, to achieve this momentous attainment.
Ambassador El
Saharty disclosed that feasibility studies are now being carried out on both
sides to consider several options to create a daily transit freight route for
EgyptAir via either BIA or MRIA, profiting from the growing facilities in both
hubs. In recent years, bilateral trade rates between Egypt and Sri Lanka have
averaged $50 million per annum. Even during the recent COVID-19 lockdowns,
exporters, trade authorities, and diplomatic missions worked hard to promote
the regular and smooth flow of trade in both countries.
As a result,
during the two months of April and May 2020, Sri Lanka was able to export a
total of 738 tonnes of its goods to Egypt, including 264 tonnes of Ceylon tea,
208 tonnes of desiccated coconut, 26 tonnes of cocoa powder, 234 tonnes of
rubber products and seven tonnes of PPE. Similarly, during the same time,
Egyptian goods, in particular citrus fruits, were exported smoothly to Sri
Lanka. Enormous trade potential has yet to be discovered and exploited.
It is worth
noting that the first bilateral agreement for the operation of daily flights
between Egypt and Sri Lanka (then Ceylon) was signed in London in 1950, while
the early trade and payment agreement concluded in Cairo in 1954. In 2005 an
additional revised air transport agreement terminated.
Since the early
1940s until the early 1970s, Colombo and Cairo linked via direct daily flights
operated by Air Ceylon, while EgyptAir worked intermittently between the two
capitals in subsequent years. The future provides tremendous opportunities to
strengthen trade and linkages between the two countries.
OSL Take: The
announcement by EgyptAir, a global leader in the industry, would be recommencing
outbound flights from Colombo from this Saturday is a welcome sign. It heralds
the recommencement of economic activities between Sri Lanka and other
countries. Sri Lanka's economic activities have already restarted after the COVID
19 closure. Sri Lanka looks flattering on the return to normalcy.
Sri Lanka's
airport and aviation industry is currently undergoing a facelift with the
government of Sri Lanka, giving prominence to the development and upliftment of
the country's airports, including the main international airport in the island.
Sri Lanka's national carrier is also undergoing a restructuring program.
The airline is
also on the lookout for a foreign investor to form a joint venture operation
for the airline. The ease of doing business environment and the strong trade
ties with foreign nations have made Sri Lanka the ideal business destination in
the South Asian region. All this indicates the growing business/investment
potential in Sri Lanka's airport and aviation industry.
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