A Belgian trade and investment delegation will commence a tour of Sri Lanka from today (22) which will continue till 26 November.

The delegation consists 40 companies (over 50 persons) in the fields of agro-food, machinery, construction, interior, energy, fisheries, gems, information technology, infrastructure, water supply, financial services, textile, tobacco, tourism investments and various trading companies. Most of them are seeking to do business with Sri Lanka for the first time.

The visit is a result of a joint effort between the Embassy of Sri Lanka in Belgium, the Embassy of Belgium in New Delhi and the Consulate of Belgium in Colombo. The Honorary Consul to Belgium for Sri Lanka, Flanders Investment & Trade, Agence Wallonne à l'Exportation et aux Investissements Etrangers, Brussels Export, Brussels Enterprises Commerce and Industry, Belgolux – Sri Lanka Business Council in Belgium, the Benelux Business Council of the Ceylon Chamber of Commerce, and Sri Lankan Airlines has supported this endeavour.

The need to further develop economic cooperation is felt from both sides. Projects of several Belgian companies in the health sector, infrastructure, water supply, water sanitation and waste disposal to the value in excess of 50 Million Euro have already been received or are in the process to be approved by the Government of Sri Lanka, and many more projects are waiting to be implemented. Sri Lanka is at peace and ready for a phase of rapid economic development led by the private sector and strongly supported by the Government which is determined to realise massive infrastructure projects to support its growth process. Belgium would be glad to be a partner in this development process and therefore end of September 2010 a combined operation was established which results in less than two months in a large and diversified trade delegation, the Embassy of Belgium said in a press release.

“This trade mission comes at a most opportune moment. After a long war, Sri Lanka is embarking on a new phase of its economic development, whereas the Belgian economy is in an expansion phase, after the global economic slowdown. Belgium is very much aware of the economic potential of Asia and particularly of South Asia. The conditions are thus right to engage in an enhanced cooperation and to maximize the benefits of complementarities between the two economies. The contacts with Sri Lankan key decision makers in the political and economic field will enlarge and deepen the long standing multi faceted excellent relations between Belgium and Sri Lanka, Jean Deboutte, Ambassador of Belgium to Sri Lanka said.

Ravinatha Aryasinha, Ambassador of Sri Lanka to Belgium, Luxembourg and the EU observed “given that at present over 70% of Sri Lanka-Belgium two way trade centres on diamonds and Belgian investment is limited to a handful of products, the diversity in the sectors represented by the participating delegation is its most significant feature. That a bulk of them for the first time have chosen to explore investment opportunities in Sri Lanka and import our products notwithstanding the absence of preferential trade with Europe, is indicative of the competitiveness and potential Sri Lanka continues to enjoy in these markets. Together with Belgian tourist arrivals expected to increase by over 100% by the end of this year, all facets of the Sri Lanka-Belgium relationship are showing great promise.”

During their stay the delegation will call on Prof. G.L.Peiris, Minister of External Affairs, Basil Rajapaksa, Minister of Economic Development, Rishad Bathiudeen, Minister of Industry & Commerce, Sarath Amunugama, Deputy Minister of Finance and Planning and Senior Presidential Advisor.

They will also meet Mr. Ajith Nivard Cabraal, Governor Central Bank of Sri Lanka and other senior government officials and attend a briefing at the BOI, as well as a sector specific seminar on construction, interior, infrastructure, harbour and marina development and tourism projects held in collaboration with the Chamber of Construction Industry. Two match making opportunities are also being organized by the Sri Lanka Export Development Board, as well as by the Benelux Business Council of the Ceylong Chamber of Commerce, for companies interested in meeting Sri Lankan exporters and manufacturers. The visiting Belgian companies will also have individual B2B meetings. The programme also provides for opportunities for visits to Sri Lanka’s blue-chip companies, several companies based on Belgian investment, Building a Future Foundation in the frame of sustainable fishing, and touristic exploration & excursions.

The business delegation arrives as part of the Belgian Week 2010, which will also include a food festival where Belgian Chef Filip Van de Venster is flown in from the gastronomic restaurant 't Vensterke in Londerzeel, Belgium. The food festival will be held from 20-28 November 2010 at the ‘Cheers Pub’ Cinnamon Grand, for lunch and dinner. A grand Belgian gastronomic dinner is to be held on Wednesday 24 November 2010.