Sri Lanka-Switzerland trade on the rise

Many countries in Latin America, Africa and Asia including Sri Lanka have great investment opportunities. Sri Lanka will have to compete with these countries to leverage foreign investment from Switzerland, said Regional Director, Asia Pacific of Switzerland Global Enterprise (SGE), Wolfgang Schanzenbach when he met Industry and Commerce Minister Rishad Bathiudeen in Colombo.

According to the Department of Commerce, bilateral trade between Sri Lanka and Switzerland stood at $ 325.76 million in 2012. Sri Lanka's exports to Switzerland have shown a slight growth during the past years except in 2009.

Sri Lanka's total exports to Switzerland recorded the highest level of US $ 91.75 million in 2012. Parts of electrical apparatus for switching or protecting electrical circuits has been the main item of export (32.42%) followed by printed circuits (14.44%), gold, other semi-manufactured forms (9.02%), precious stones and gems (8.06%) and apparel (6.5%).

Sri Lanka received Foreign Direct Investment (FDI) from Switzerland totalling $ 14.46 million in 2012.

SGE, an entity operating under the Swiss government, is Switzerland's centre of excellence for internationalisation is involved in exports, imports and investments (to Switzerland) and works closely with Swiss SMEs.

Schanzenbach, now in Sri Lanka on a fact finding mission, will explore emerging and other investment opportunities here for Swiss investors.