Global Economy

Covering international economic developments, trade relations between countries, and geopolitical events that impact the global economy.

Trade Relations

Foreign Investors Explore Investment Opportunities at Trincomalee and Hambantota Ports

As part of the Voyage Sri Lanka 2024 initiative, a group of 20 potential foreign investors from diverse countries, including India, Saudi Arabia, Maldives, France, Japan, Thailand, United States, and Cambodia, visited the Trincomalee and Hambantota ports on November 24 and 25, 2024. The purpose of the visit was to showcase Sri Lanka’s growing potential

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Trade Relations

UAE, COYLE to Boost Trade, Tech, and Tourism Ties

At a recent roundtable discussion organized by the Chamber of Young Lankan Entrepreneurs (COYLE), UAE Ambassador to Sri Lanka Khaled Nasser Al Ameri emphasized the potential for deepening bilateral ties between the United Arab Emirates (UAE) and Sri Lanka. The discussion, held on November 12 at Cinnamon Lakeside Colombo, focused on creating opportunities in trade,

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Trade Relations

Sri Lanka Launches ‘Naturalz’ to Diversify Exports in UAE

The Consulate General of Sri Lanka in Dubai and Northern Emirates has backed the brand launch of ‘Naturalz’, a new initiative by the NRS Group of Companies, which took place on November 5 at the Pullman Hotel, Deira, Dubai. This launch showcases a diverse range of high-quality Sri Lankan products, including fresh fruit pulps, spices,

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Trade Relations

Sri Lanka-Canada Business Council Concludes Successful Trade Mission

The Sri Lanka-Canada Business Council (SLCBC) of The Ceylon Chamber of Commerce has successfully wrapped up a significant nine-member trade and investment mission to Canada. Running from 14 to 22 October, this mission aimed to deepen bilateral ties and explore collaborative opportunities across various sectors, including higher education, green agriculture, IT, and tourism. Led by

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International Economic Developments

Sri Lanka Showcases Coconut-Based Products for the First Time at Saudi Agriculture Expo 2024

The Sri Lankan Embassy in Riyadh, in partnership with the Coconut Development Authority, successfully organized the debut participation of 10 Sri Lankan companies manufacturing coconut-based products at the 41st Saudi Agriculture Expo 2024. Held from October 21–24 at the Riyadh International Convention and Exhibition Centre, the event marked a significant milestone for Sri Lankan agricultural

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Trade Relations

X-Press Feeders Expands Fleet, Secures Position as World’s Largest Feeder Operator

X-Press Feeders, headquartered in Singapore, has solidified its position as the world’s largest common feeder operator, significantly widening the gap over its main competitor, Unifeeder. Ranked 13th in the Alphaliner Top 100, X-Press has expanded its fleet capacity by 21.8%, adding 35,000 TEUs since October 2023. This growth outpaces the global liner fleet, which has

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International Economic Developments

Korean Ambassador Pledges New Investments and Strengthened Ties with Sri Lanka

The Ambassador of the Republic of Korea, Miyon Lee, paid a courtesy visit to President Anura Kumara Dissanayake at the Presidential Secretariat on October 9th. The meeting marked a significant step in strengthening the bilateral relations between Korea and Sri Lanka. Ambassador Lee congratulated President Dissanayake on his inauguration and extended best wishes from Korean

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International Economic Developments

Biden Commits to Strengthening US-Sri Lanka Ties in Letter to Dissanayake

In a letter to Sri Lanka’s newly elected President Anura Kumar Dissanayake, US President Joe Biden expressed a commitment to strengthening ties between the two nations, focusing on economic development, regional security, and democratic governance. The letter, described by Sri Lanka’s President’s Media Division (PMD) as a “significant gesture of diplomatic goodwill,” followed Dissanayake’s recent

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International Economic Developments

Revival of Japanese Development Projects in Sri Lanka

As Sri Lanka approaches the completion of its debt restructuring process, optimism is rising for the resumption of long-stalled development initiatives. Eleven Japanese-funded projects, previously halted due to the country’s economic and political turmoil, are set to restart. Economists stress that while ongoing projects will be reinstated, any new ventures will depend on Sri Lanka’s

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Trade Relations

Sri Lankan Trade Delegation Strengthens Ties with Australian Food Industry

The Sri Lanka Export Development Board (EDB), in collaboration with the Sri Lanka Consulate General in Melbourne (SLCG) and the Sri Lanka-Australia Chamber of Commerce (SLACC), successfully organized a trade delegation to Melbourne, Australia, from September 2 to 6. This initiative brought together 17 distinguished Sri Lankan companies, chosen through a rigorous selection process based

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