Malik meets EU Trade Commissioner in Brussels

Development Strategies and International Trade Minister Malik Samarawickrama accompanied by Ambassador Rodney Perera met with European Commissioner for Trade Cecilia Malmström recently at the European Commission in Brussels. 
With Malmström, the minister discussed the prospects for increasing bilateral trade and investment from the European Union (EU) with the enhanced opportunities expected following the European Commission recommendation to restore the GSP Plus facility to Sri Lanka. 
It was noted that the bilateral trade turnover currently stands at approximately US $ 5 billion annually and the EU accounts for 36 percent of Sri Lanka’s total exports last year. 
Samarawickrama discussed the prospects for increasing investment and invited European companies to do business with Sri Lanka. He stated that there are many opportunities to invest in infrastructure development and also in the agriculture and dairy sector with the possibility of joint ventures.
The minister referred to the resumption of the EU Sri Lanka Investment Dialogue in January this year after a lapse of many years. Malmström expressed confidence that the European investors would increasingly look at the favourable opportunities available in Sri Lanka in the context of the positive steps taken by the government to create an investor-friendly climate.
It was noted that a high level delegation from the European Investment Bank (EIB) will visit Colombo at the end of this month to explore further avenues of economic cooperation between the EU and Sri Lanka. 
Samarawickrama briefed Malmström on the steps Sri Lanka is taking to bring about reconciliation, strengthen good governance and respect for human rights and the regular dialogue with the EU on matters of mutual interest. 
Samarawickrama extended an invitation to Malmström to visit Sri Lanka at an early opportunity to which the commissioner responded positively.