Business
EU wants ‘unhindered trade’ with Sri Lanka
As the country’s open economy policy brought the two economies together
By Sanath Nanayakkare
The European Union’s close partnership with Sri Lanka and the benefits of Sri Lanka’s open economy policy were the key factors in bringing the economies of the European Union (EU) and Sri Lanka together, Thorsten Bagfrede, Deputy Head of the Delegation of the EU to Sri Lanka and Maldives said recently.
And then he emphasized on the importance of policy consistency and unhindered trade, mentioning that the EU is still the biggest market in the world and one of Sri Lanka’s top export destinations. Bagfrede also said that the green economy is a priority for the EU and invited investors to participate in this initiative.
Grace Asirwatham, Ambassador for Sri Lanka in Brussels, Luxembourg and the Mission to EU said, “The European Union representing 27 countries as a regional bloc is of paramount importance to Sri Lanka, for economic development. Sri Lanka treats investors as the most welcome partners and offer strong fundamentals for investing, along with regulatory support, investment protection, investment incentive framework and everything that an investor is looking for in a country. The EU-Sri Lanka investor dialogue forum is vital for investors from the EU to address their issues with relevant state agencies.”
The breakout session was moderated by John Wilson, Director and In-House Legal Counsel from the EU Chamber of Commerce in Sri Lanka, with four leading European investors focusing on priority markets.
Omega Line a subsidiary of Calzedonia represented by Felix Fernando, Managing Director, Ms. Melis Kurtylmaz, CEO, Decathlon France, Fred Vandemarliere, Chairman of United Tobacco Processing subsidiary of J Cortes, the world renowned suppliers of cigars and Suresan Arunachalam, Director / COO of Global Sports Lanka (Pvt) Ltd were the panelists providing key insights to operating in and doing business from Sri Lanka, elaborating on their success stories in investing in Sri Lanka, as well as expanding and making re-investments in the country.
Logistical advantages, high quality production ethics, a good level of technical know-how and compliance, and an educated workforce at relatively low wages were key strengths echoed by the panelists.
This session was organized by the Board of Investment of Sri Lanka (BOI) in collaboration with the European Chamber of Commerce.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
