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Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.

 

Colombo emerging as the topmost shipping and logistics destination in South Asia - says Ceylon Chamber CEO

Friday, January 30, 2015 > 09:23:40
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(The Island Online)

Colombo has the potential to emerge as the topmost shipping and logistics hub in South Asia, said Mangala P. B. Yapa, CEO / Secretary General of the Ceylon Chamber of Commerce, while speaking to a Mumbai based business delegation.

Yapa says, the geographical location of Sri Lanka, adjacent to the intersection of many sea routes, connecting major economies, sea and air connectivity, heavy investment and development of the local ports and airports, ICT Integration and streamlining of all import and export related activities to a seamless, fully integrated and synchronized system, the emergence of free ports concepts, and the Free Trade Agreements that the country has already established and that are to be established in the future, as the key determinants behind this potential of Sri Lanka's emergence, as a shipping and logistics hub.

He invited the Indian businessmen to take advantage out of this situation, which the former shipbuilder said would help expanding trade within and outside the region, owing to Sri Lanka's growing ties with India, Pakistan and China.

"You would have noted that the deepest port in South Asia is already operational in Colombo South Port. Sri Lanka also has good air connectivity. This is an excellent opportunity for Indian importers and exporters…" he told the business delegation, who are the members of the Mumbai based Indian Merchant Chamber of Commerce.(CCC)

Speaking further Mr. Yapa outlined that Sri Lanka's uninterrupted power supply system, less bureaucracy, educated labor force, Investment incentives, ease of repatriation of income generated from investments and offering of Visa on arrival are some of the reasons, why investing in the country makes it easy for investors.

The Chamber delegation was in the country a week ago to "Enhance Bi-lateral Trade & explore new avenues of business opportunities in Sri-Lanka".

At a B2B meeting organized by The Ceylon Chamber in association with the Indo-Lanka Chamber of Commerce & Industry, they met with local counterparts and explored possibilities in expanding trade and investment in the respective areas.


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