Economic cooperation between Sri Lanka, Kenya to expand

Economic cooperation between Sri Lanka, Kenya to expand

Economic cooperation between Sri Lanka, Kenya to expand

Source :dailynews 

Senior advisor to President Ranil Wickremesinghe on Climate Change Ruwan Wijewardene had a meeting with Kenyan Prime Minister Musalia Mudavadi held in the Prime Minister’s Office, Nairobi. Senior advisor Wijewardene was accompanied by Sri Lanka’s High Commissioner to Kenya Kana Kananathan. The discussions covered a wide range of topics aimed at bolstering the economic and diplomatic ties between the two nations.

One of the central themes of the meeting was the exploration and enhancement of existing Sri Lankan investments in Kenya. These investments, primarily concentrated in sectors such as textiles, tea manufacturing, tea trading, micro finance, infrastructure development, and renewable energy, have played a crucial role in fostering economic cooperation between the two countries over the years.

During the meeting, the Kenyan Prime Minister and the Sri Lankan Senior advisor engaged in a discussion on ways to further strengthen and diversify these investments. This includes exploring avenues to increase Sri Lanka’s presence in Kenya’s textile and apparel manufacturing, renewable energy and tea sectors, which have shown immense potential for growth.

Both parties exchanged ideas on expanding tea value addition development, with a focus on Kenya’s ambitious in enhancing the tea value addition projects and Sri Lanka’s expertise in this domain. The potential collaboration in renewable energy was also a key point of discussion, as both nations acknowledged the importance of sustainable energy solutions in today’s world.

Looking toward the future, the meeting participants delved into potential sectors for further investment and economic cooperation. These discussions opened doors for new opportunities, ranging from technology, agro processing and agriculture to healthcare. Such diversification is expected to not only strengthen bilateral relations but also stimulate economic growth in both nations.

One of the exciting prospects explored during the meeting was the potential benefits of boosting tourism between Sri Lanka and Kenya. Both countries boast stunning landscapes, rich cultural heritage, and diverse wildlife, making them attractive tourist destinations. By facilitating increased tourism flows inward and outward, the two nations aim to boost their economies and foster cultural exchange.

The meeting between Senior advisor to the President and Kenyan Prime Minister marked a significant milestone in the ongoing efforts to deepen the bilateral relationship between the two nations. The discussions on existing investments, diversification of economic ties, exploration of future sectors, and the promotion of tourism serve as a testament to the commitment of both nations to strengthening their bonds and fostering mutual growth.

The Prime Minister took a moment to commend the High Commissioner Kananathan for his dedicated efforts in promoting economic cooperation between Kenya and Sri Lanka. He said that the High Commissioner over the years has been actively encouraging Sri Lankan businessmen to explore investment opportunities which has resulted in setting up businesses in Kenya and his commitment to fostering cross-border business relations has not gone unnoticed by the Kenyan Government. He reiterated the Kenyan Government’s commitment to creating an environment that is conducive to foreign investment and business growth.

It is evident that Kenya and Sri Lanka are poised to embark on a new era of cooperation, one that holds great promise for their respective economies and the well-being of their citizens.

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