Sri Lanka should try to woo Nepal universities to invest in Sri Lanka as there are many local students studying in Nepal universities, President of the Sri Lanka-Nepal Business Council (SLNBC) Jagath Savanadasa told Sunday Observer Business on the sidelines of the Nepal National Day celebrations at the Taj Samudra on Thursday.
He said that this could save forex for Sri Lanka as money is sent to Nepal for students education expenses.
“Opening a Nepal university, will first save that money and second will gain forex by having foreign students from the region study in Colombo.”
Savanadasa said that Sri Lanka should also look at a Free Trade Agreement with Nepal as local exporters could gain valuable benefits from it.
He said that the SLNBC has played a key role in promoting business between the two countries and also supported Nepal to get into the World Trade Organization. Secretary, SLNBC, Lakshman Perera said that flights between Kathmandu and Colombo will be launched by the end of the year by SriLankan Airlines and this would play a key role to increase tourism and business as well. Nepal is the 136th export destination for Sri Lanka. The total export value from Sri Lanka to Nepal was USD 964,532 in 2023 and total imports from Nepal to Sri Lanka for the same period were USD 96,201. Nepal is the 119th import origin for Sri Lanka. The main products exported from Nepal to Sri Lanka were Orthopedic Appliances, Cold-Rolled Iron and Optical Fibers and optical fibre bundles.
Sri Lanka’s main export products to Nepal in 2023 were Glass and Glassware, Animal Feed, Meat, preparations of Meat/Fish and Dairy Produce, Tea Packets, Coconut Oil, Switches, Boards and Panels, Aircrafts and Parts and Printed Labels.
The event host Charge d’Affaires Embassy of Nepal, Sagar Bhandari said that Nepal and Sri Lanka set up diplomatic relations in 1957 and have maintained close relations.
Chief guest, Western Province Governor Marshal of the Air Force, Roshan Goonetileke said that there are many untapped business opportunities that should be pursued.
