Bogollagama advocates SL’s economic potential at Commonwealth trade summit

by Sujeeva Nivunhella reporting from London

High Commissioner Rohitha Bogollagama last week pushed Sri Lanka’s economic and investment potential at the third Commonwealth Trade and Investment Summit (CTIS), held in London on November 27-28.

Organized by the Commonwealth Enterprise and Investment Council (CWEIC), the event was attended by distinguished Commonwealth figures, including the head of state of Samoa, Ministers of Trade and Industry from Ghana and Nigeria, High Commissioners, senior officials, business leaders, and technocrats from across the Commonwealth.

The two-day summit featured a series of sessions, meetings, round table discussions, and networking opportunities among delegates, emphasizing the importance of fostering trade and investment collaboration within the Commonwealth.

Addressing strategic Commonwealth partners during the Global Advisory Council meeting, Bogollagama delivered an overview of Sri Lanka’s economic landscape, highlighting the nation’s resilience in overcoming challenges in the context of both international relations and domestic pressures.

He underscored Sri Lanka’s strategic geopolitical positioning as a pivotal hub bridging the East, Far East, Middle East, and the West. Moreover, with access to a substantial market of nearly two billion in South Asia, Sri Lanka stands poised to leverage its advantages with the right infrastructure, a robust legal system, independent judiciary, adherence to the rule of law, English language education, skilled workforce, well-developed transportation networks, and flourishing tourism sector to attract diverse investments, particularly in technology and innovation, he said.

Emphasizing Sri Lanka’s commitment to the Commonwealth and its investment promotion arm

Bogollagama affirmed Sri Lanka’s dedication to steering the country toward greater success in attracting international investment and expressed gratitude to Lord Marland, Chairman of CWEIC, for facilitating Sri Lanka’s participation in the event enabling deeper connections within the CWEIC network.

He extended an invitation to potential investors worldwide to look at possibilities, urging them to consider Sri Lanka as a ‘plug-and-play’ investment and commercial destination on an upward trajectory.

The CTIS, a platform hosting over 550 international delegates from 56 Commonwealth member nations, served as a pivotal Business-to-Government Summit. It provided a platform to deliberate and strategize on critical Commonwealth investment and trade-related issues in the run up to the forthcoming CHOGM (Commonwealth Heads of Governement Meeting) and the Commonwealth Business Forum scheduled to be held in Samoa in October 2024.