Switzerland says it is working towards upgrading the ‘Avoidance of Double Taxation Agreement’ and the ‘Bilateral Investment Treaty’, which the country has signed with Sri Lanka.
This was revealed by Livia Leu, Ambassador Delegate of the Federal Council for Trade Agreements of Switzerland, when she visited the Ceylon Chamber of Commerce, this week.
Speaking with Ceylon Chamber CEO/Secretary General Mangala P. B. Yapa, Leu also said that Sri Lankan exporters need to take maximum use of the Swizz GSP facility given to the country.
She said, currently the GSP facility is underutilized by Lankan exporters.
Mangala Yapa emphasized the importance of building two-way trade and investments. He also invited the European Union to bring in investors to Sri Lanka and take advantage of nearby markets such as India.
The Swiss delegation, which also comprised the New Delhi-based Swiss envoy to Sri Lanka and Maldives, Heinz Walker Nedekoorn and business chamber representatives of Switzerland, also stressed on the importance of having a fully fledged ‘one-stop-shop’ in Sri Lanka, in order to facilitate foreign investors.
Lilakshini De Mel, Senior Assistant Secretary General of the Chamber, Gayathri Gunaruwan, Chief Economist of the Chamber and M. Somasena, Director of the Department of Commerce of Sri Lanka also joined the discussion.