Sri Lanka is looking to strengthen its trade ties with Italy, its top trading partner within the European Union. Recognizing this strategic importance, the National Chamber of Commerce of Sri Lanka (NCCSL) recently hosted a session to explore bilateral trade opportunities.
Sri Lankan Ambassador to Italy, Jagath Wellawatte, highlighted the under-participation of Sri Lankan businesses in Italian trade fairs, stressing the need for increased engagement. Counsellor Tharaka Botheju echoed this sentiment, emphasizing Italy’s potential as both an export destination and a market for unique Sri Lankan offerings like automobile components, culinary delights, and Ayurvedic products.
The session also underscored the importance of diversifying Sri Lanka’s exports beyond traditional garments and textiles. Participation in prominent trade fairs like Host Milano was seen as a way to showcase a wider range of products, including Ceylon Tea, cosmetics, spices, and herbal goods.
Italy’s Ambassador, Damiano Francovigh, provided insights into the Italian economy and its trade landscape. He highlighted the growing SME sector and promising business areas for collaboration. Additionally, he drew attention to the strong presence of Italian investors in Sri Lanka, particularly in tourism and fashion garments.
NCCSL Chairman Deepal Nelson emphasized the crucial need to generate export revenue, and the event aimed to facilitate direct interaction between Sri Lankan and Italian entrepreneurs across tourism, foreign direct investments (FDIs), trade, and export sectors. The session fostered lively discussions as Sri Lankan businesses sought clarity on potential opportunities in the Italian market.