Commonwealth Enterprise and Investment Council (CWEIC) chairman Lord Marland concluded a three-day visit to Sri Lanka as part of a larger trip to South and South East Asia.
The visit presented an opportunity to foster further ties between the Government, business sector, and the CWEIC.
CWEIC is a commercial, not-for-profit membership organisation with an official mandate from the Commonwealth Heads of Government to facilitate trade and investment throughout the 56 Commonwealth member nations. CWEIC has multiple Strategic Partners (members) in Sri Lanka including Port City Colombo, Capital Maharaja Group, Hypower Engineering International, and LOLC Holdings from the private sector.
Last year, the Government rejoined as a Strategic Partner.
During the visit, Lord Marland engaged in productive discussions aimed at unlocking the potential for mutual growth and prosperity and heemphasised that the Commonwealth is a platform for collaboration and economic opportunity.
With over 2.5 billion people and a combined GDP exceeding $13.1 trillion, the Commonwealth has 56 member states, including some of the world’s fastest-growing economies.
This global network offers Sri Lanka a pathway to forge deeper partnerships worldwide. A combination of cultural, legal, and economic factors means that it is 21% cheaper for Commonwealth countries to trade with one another, an effect known as the ‘Commonwealth Advantage’, which further offers Sri Lanka opportunities for growth.
During the meetings with President Ranil Wickremesinghe and State Minister of Investment Promotion Dilum Amunugama, the CWEIC reaffirmed its commitment to support the Government as part of the Strategic Partnership.
Lord Marland extended a formal invitation to President Wickremesinghe to participate in the Commonwealth Business Forum, which is one of the four official Forums that are convened alongside the Commonwealth Heads of Government Meeting in October in Samoa. Minister Dilum Amunugama is due to visit London in March as part of the Ministry of Investment Promotion’s investment drive. During the visit, CWEIC will convene Strategic Partners and stakeholders keen on investing in Sri Lanka for a roundtable discussion.
Lord Marland also held a meeting with British High Commissioner Andrew Patrick. Port City Colombo (PCC) also hosted a networking event with Lord Marland at the Port City Colombo Sales Gallery. State Minister Amunugama and officials were also in attendance.
The CWEIC aims to use the convening power and trusted network of the Commonwealth to drive trade and investment. CWEIC’s network includes over 140 business and government Strategic Partners. Every two years, CWEIC hosts the Commonwealth Business Forum in association with the host country of the Commonwealth Heads of Government Meeting (CHOGM).
