Sri Lanka–Thailand Business Council marks 24th AGM with plans to boost trade, tourism, and investment
Sri Lanka–Thailand Council Expands Business Horizons
The Sri Lanka–Thailand Business Council celebrated its 24th Annual General Meeting (AGM), reaffirming its commitment to expand trade, tourism, and investment opportunities between the two nations through deeper private-sector collaboration and sustainable growth initiatives.
The Sri Lanka–Thailand Business Council (SLTBC) held its 24th Annual General Meeting recently, gathering key business leaders, investors, and stakeholders dedicated to strengthening bilateral relations. For over two decades, the Council has served as a bridge between the two countries’ private sectors, advancing trade, tourism, and investment partnerships while preserving the cultural and historical ties that have connected Sri Lanka and Thailand for centuries.
The relationship between Sri Lanka and Thailand has long been rooted in shared Buddhist heritage, mutual respect, and a deep cultural connection. Today, that bond has evolved into a dynamic economic partnership that merges traditional goodwill with modern commercial ambitions. As the Council approaches its 25th anniversary, it continues to symbolize a partnership built on trust, innovation, and mutual prosperity.
During the AGM, Mr. Rizan Nazeer, one of the founding members of the Council, was appointed as its new President. Known for his dedication to enhancing Sri Lanka–Thailand relations, Nazeer outlined his vision for the Council’s future. He emphasized the organization’s strategic role in aligning with both governments’ initiatives to deepen bilateral cooperation across trade, investment, and tourism sectors.
Highlighting the landmark Sri Lanka–Thailand Free Trade Agreement (FTA), signed in February 2024, Nazeer explained how the agreement could be transformative for both economies. The FTA aims to remove tariffs on nearly 85 percent of traded goods within six years, a move expected to significantly boost bilateral trade volumes. With trade currently valued at approximately US$350 million, the Council projects this figure could exceed US$1 billion once the agreement is fully implemented.
“The FTA is not just about trade—it’s about partnership and opportunity,” Nazeer noted. “By opening new markets and encouraging collaboration, both countries can benefit from increased economic activity and shared growth.”
The President further outlined the Council’s focus on promoting private-sector engagement and joint ventures, particularly in high-potential industries such as agriculture, food processing, health and wellness, tourism, renewable energy, and technology. These sectors represent promising opportunities for entrepreneurs and investors looking to capitalize on the synergy between Sri Lanka’s growing market and Thailand’s industrial expertise.
In addition, Nazeer stressed the importance of empowering small and medium enterprises (SMEs), helping them to integrate into global supply chains. The Council aims to assist SMEs in improving product standards, achieving international certifications, and developing export-ready capacities. This initiative is expected to ensure that smaller businesses also benefit from the FTA and broader regional cooperation.
Over the years, the Sri Lanka–Thailand Business Council has organized numerous business forums, trade missions, and networking events in partnership with organizations such as the Board of Trade of Thailand and the Thai–Sri Lanka Chamber of Commerce. These initiatives have not only promoted economic collaboration but also strengthened people-to-people connections, enhancing mutual understanding and cultural exchange.
The Council’s efforts have contributed to an increasingly diversified trade relationship. Sri Lanka continues to export tea, natural rubber, and precious stones to Thailand, while importing electrical appliances, vehicles, and machinery. With the new trade agreement in place, both sides expect a surge in value-added exports, tourism flows, and technology-driven collaboration.
As the Council looks ahead to its 25th anniversary in 2026, it is poised to enter a new era of engagement. Under the leadership of President Nazeer and the Executive Committee, the organization plans to further consolidate its position as a catalyst for bilateral growth and regional integration. Its mission remains clear: to drive sustainable business partnerships that contribute to the prosperity of both nations.
Nazeer concluded the AGM by reaffirming the Council’s long-term vision: “Our goal is to create lasting economic bridges between Sri Lanka and Thailand. Together, we will shape a partnership that not only grows stronger but also brings tangible benefits to our people.”
With this renewed direction, the Sri Lanka–Thailand Business Council continues to embody the enduring spirit of friendship and forward-looking collaboration that defines the Sri Lanka–Thailand relationship — one that combines shared history with a commitment to a prosperous future.