Reignite Sri Lanka 2023 Business Forum: Bridging Australia and Sri Lanka

Reignite Sri Lanka 2023 Business Forum, a landmark event aimed at boosting trade, investment and tourism between Australia and Sri Lanka, was held recently at the Crown Promenade, Melbourne. This inaugural initiative organised by the CA Sri Lanka- Australia Chapter in collaboration with the Consulate General of Sri Lanka, was a resounding success.

The forum hosted senior officials from over 70 Australian businesses, diplomats, heads of professional bodies and representatives from the media and chambers of commerce. ??The event was presented by Ms Ilham Sabry Ahamed , who kicked off the evening highlighting that the main aim of the Business Forum was to contribute towards rebuilding the country’s economy, promoting Sri Lanka as a preferred tourist destination and restoring her image across the globe. ?She also drew attention to the unwavering resilience of Sri Lankans, their warmth and hospitality despite the economic crisis the nation experienced in the recent past.

The evening's keynote speaker was Mr. Sanjaya Bandara , President of CA Sri Lanka. His speech emphasized the untapped potential for growth and investment between the two nations. Mr Bandara mentioned that the country is now in the process of economic recovery citing the decreasing Inflation and interest rates, stabilisation of exchange rates, property prices and equity in listed companies becoming more attractive due to the depreciation of the rupee against major currencies etc. He urged the attendees to seize the opportunity that has presented itself by considering investment in Sri Lanka.

Other distinguished key speakers included Mr. Sandith Samarasinghe , Consul General of Sri Lanka in Melbourne and Mr. Chalaka Gajabahu , Chairman of the Sri Lanka Tourism Promotion Bureau.

Mr Samarasinghe shared with the audience that the Consulate had expanded the scope of its services by creating a Commercial Office to promote much needed foreign direct investment in Sri Lanka. With the increase in environmental consciousness the world-over, Mr Samarasinghe spoke about Sri Lanka’s own objectives in this area, most notably the country’s Climate Prosperity Plan. The plan aspires to position Sri Lanka as a pioneer in climate policy, design and implement technologies that are climate smart with the aim of making Sri Lanka a carbon negative nation by 2040s.

Mr Gajabahu, Chairman of the Tourism Promotion Bureau, the marketing arm of the Ministry of Tourism stated that, amongst the main tasks of the bureau was establishing Sri Lanka’s positioning globally and creating a blueprint for the next 10-15 years. He quoted the famous futurist Arthur C. Clarke who described Sri Lanka as a ‘small universe’!

Moderated by Mr. Pramitha Ranshika , a panel discussion delved into the importance of injecting foreign exchange into the Sri Lankan economy, the critical role played by the tourism and hospitality industry and the historically significant, symbiotic relationship between tea and tourism. ?Mr. Malik J Fernando , Director of Dilmah Teas, Mr. Ruwan Karunaratne , Director Finance of Colombo Port City Economic Commission and Ms. Lucy Walgers , Marketing Manager at Trip a Deal, Mr Sanjaya Bandara and Mr Sandith Samarasinghe comprised the panel.

Mr Fernando in his insightful comments, mentioned the critical role foreign direct investment would play in rebuilding the Sri Lankan economy and the significant role played by Dilmah in relation to Nation Branding.?He also made the very pertinent observation that Sri Lankan professionals being of a high calibre are well regarded the world over and that it was disheartening to note the brain drain the country is currently experiencing.

The President of the Chapter Mr Anuruddha Dias FCA CPA concluded the event delivering the vote of thanks where he announced that, in collaboration with the Consulate General’s Office the Chapter had instituted an Investor and Business Relations Committee to provide post event coordination and support to the business community.

The vibrant and insightful forum paved the way for a high-energy networking session, prompting active engagement and conversation amongst the speakers and attendees. The event’s success was a testament to the commitment of the lead sponsors Dilmah Tea and TripADeal along with other associate sponsors and AusLanka TV, the media partner of the evening.

The event was organised by the Business Forum Committee of the CA Sri Lanka – Australia Chapter, chaired by Mr Millon Landers . The Chapter is an affiliated overseas member body of CA Sri Lanka promoting cohesion and camaraderie among CA Sri Lanka members, enhancing their capabilities, and taking initiatives that benefit the broader Sri Lankan and Australian communities.

The Reignite Sri Lanka 2023 Business Forum has undoubtedly set a precedent, fostering stronger bilateral relations between Australia and Sri Lanka and illustrating the immense opportunities that lie within the Pearl of the Indian Ocean. It heralds the first of many steps towards a future of prosperity and growth for Sri Lanka.