German Ambassador wants Sri Lanka to be free and fair in bilateral trade

By Sanath Nanayakkare

Bilateral trade degenerating into a one-way street is neither free nor fair, German Ambassador Holger Seubert said in Colombo on Monday.

Seubert said so at the launch of the 7th edition of Top German Brands in Sri Lanka at Kingsbury Hotel in the presence of Secretary to the President Dr. P. B. Jayasundera and about 150 representatives of German brands where they renewed their commitment to the Sri Lankan market.

“Sri Lanka also needs to present a reliable legal framework and a level playing field in order to increase the presence and to encourage further foreign direct investments (FDIs) from Germany,” the German envoy said.

Referring to the fact that Sri Lankan exports to Germany were three times higher than German exports to Sri Lanka, the Ambassador said, “Germany is committed to free and fair trade, but bilateral trade degenerating into a one-way street is neither free nor fair.”

According to trade statistics, German exports to Sri Lanka decreased until the end of 2020 by 26.3%, while Sri Lankan exports to Germany decreased by 5.1%.

German exports to Sri Lanka were about 234 million Euro in the year 2020 while Sri Lankan exports were more than three times higher, reaching about 718 million Euro.

During the first 9 months of 2021 bilateral trade has picked up again. German exports to Sri Lanka rose by 14.1% while Sri Lankan exports rose by 18.1%.

Andreas Hergenröther, Chief Delegate of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) addressing the gathering said: “Despite the Covid-19 pandemic, 178 German brands have joined Top German Brands 2021, which is an increase of 13% compared to last year. It demonstrates that participating German companies and their representatives have underlined their strong commitment as reliable long-term partners in Sri Lanka,”

Within the framework of a joint project of AHK Sri Lanka and Friedrich Naumann Foundation on sustainable supply chains and sustainable tourism, the following companies were awarded for their extraordinary sustainability commitment in the subsequent categories:

* Sustainable Tourism/SME and innovation:

The Thinnai Organic Farm Hotel

* Sustainable Tourism/Large enterprise:

Aitken Spence Travels

* Sustainable Supply Chains/SME and innovation: Gralgo Spices

* Sustainable Supply Chains/large enterprise:

Eskimo Fashion Knitwear