Japan keen to expand business ties with Lanka

A trade agreement was signed between the Sri Lanka-Japan Business Cooperation Committee of the Ceylon Chamber of Commerce and a Japanese biz delegation in Colombo last week.

The delegation led by the Kansai Economic Federation arrived in the country to explore business opportunities.

Under the agreement, both sides will exchange information on economic and business trends in the two countries, cooperate in the areas of trade, investment and business, environment conservation and energy-saving and also work on human resources development.

Chairman, Ceylon Chamber of Commerce, Samantha Ranatunga said, "Today's briefing to exchange views on how to enhance economic relations between Sri Lanka and Kansai, Japan, is of significance at a time the government is further encouraging investors to consider setting up joint ventures in Sri Lanka."

Vice Chairman and the Chairperson of the International Committee of the Kansai Economic Federation, Masayuki Matsushita said that the Kanzai region has a strong interest in expanding business in Sri Lanka.

"We have clear objectives to obtain an in depth understanding of the status of the fast-developing Sri Lankan economy, its policies towards industries and the latest investment environment and to identify opportunities to expand business, especially in the environment sector," he said.

President, Sri Lanka-Japan Economic Cooperation Committee, Daya Wettasinghe said, "The visit of a biz delegation from Japan, shows their commitment and interest in doing business with Sri Lanka."

"We look forward to seeing investments in the fields of infrastructure, tourism, fisheries, logistics and capital markets," he said.

The round table discussion saw leading Japanese firms such as Panasonic, Mitsubishi, Nippon Express, Takenaka Corporation, Hitachi Zosen, Marubeni Corporation, Daikin Industries, Mitsui and Kyoei Steel Limited taking part. Several Sri Lankan firms, representing a multiple sectors were also present at the meeting.

The Ceylon Chamber was represented by Secretary General and CEO Mangala P. B. Yapa and Assistant Secretary General, Ms. Lilakshini de Mel.

Several senior officials of the Kansai Economic Federation, such as Masaru Nakamura, Yasuyuki Hirotomi, Hideaki Tabuchi and Yohimasa Ohashi were also present.