Saudi-Sri Lanka Business Council to be set up soon

RIYADH : Ambassador of Sri Lanka to Saudi Arabia Ameer Ajwad met with the President of the Federation of Saudi Chambers (FSC) Hassan Moejeb Al-Huwaizy along with the newly nominated members of the FSC for the Saudi – Sri Lanka Business Council with a view to initiating the process of establishing the Saudi Arabia – Sri Lanka Business Council which is a long-awaited forum to enhance private sector interaction between the two countries.

While appreciating the efforts in initiating the process for the establishment of the first ever Business Council between the two countries, FSC President Al-Huwaizy introduced the newly nominated members of the FSC for the Saudi – Sri Lanka Business Council to Ambassador Ameer Ajwad. He also expressed interest in dispatching a business delegation to Sri Lanka from the FSC to explore trade and investment opportunities in Sri Lanka following the establishment of the Business Council.

In response, Ambassador Ameer Ajwad recalled his meeting with the FSC President Al-Huwaizy earlier this year where they agreed to establish the Business Council between the two countries to coincide with the 50th anniversary of the establishment of diplomatic relations between Sri Lanka and Saudi Arabia. He appreciated the proactive action taken by the FSC President to nominate members from the Federation of Saudi Chambers to represent Saudi Arabia at the Saudi – Sri Lanka Business Council. Ambassador also conveyed the concurrence by the Sri Lankan side to the establishment of the Business Council and discussed on the formalities to initiate the process during the meeting.

Both sides agreed to expedite the necessary procedures for the establishment of the Business Council between the two countries by signing an MoU and launching the Council as early as possible. They also underscored that the establishment of a Business Council between the two countries will be a big breakthrough and that such a high-profile forum of business communities of both countries will serve an impetus to further consolidate private sector collaboration in trade, investment and other areas of commercial interest.

Ambassador was accompanied by Mr. Mohamed Anas, Minister/Head of Chancery and Ms Tashma Vithanawasam, First Secretary/Commerce of the Sri Lanka Embassy in Riyadh.

The Federation of Saudi Chambers (FSC) is an umbrella organization of 28 chambers of commerce in the Kingdom of Saudi Arabia and around 69 joint Saudi-foreign Business Councils have been affiliated with the FSC.