News Line

    Go to Home Back
Email this to a friend
Printable version
Thursday, August 23 , 2012 - 8.41 GMT
Seychelles becomes SL’s largest investment partner                                                                                                


Seychelles, Sri Lanka’s largest investment partner in 2011, offers synergy and market potentials in many sectors for both countries. More importantly, Seychelles is ‘very strongly’ looking to Sri Lanka for air links and maritime cooperation.

“There are synergy potentials between both countries, in several sectors including tourism and hospitality, boat manufacturing, harbours, maritime cooperation, health and banking & financial where we can jointly explore. We also believe that gems and jewellery, furniture, and plastic products and many more business to business cooperation potentials are available” announced Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka yesterday (Aug. 22).

Minister Bathiudeen was addressing a meeting for the visiting high level Seychelles delegation led by the President of Seychelles, James Alix Michel on 22 August at Hilton Hotel, Colombo.

Addressing the meeting, James Alix Michel, President of Seychelles, said: “We are looking for cooperation in fisheries among others where I see lots of potentials. Your offer of credit line enables us to build our fleet and develop our fishing industry for which we thank the Government of Sri Lanka.

“We want Sri Lanka to help us together with you to take ownership of the resources in our ocean which has been exploited by foreign interests. We have to make the most of it and engage ourselves in developing the blue economy for the benefit of both countries. We are also exploring renewable energy potential as well as collaboration in education and intellectual sector-in that synergies and partnership between Sri Lankan and Seychelles universities” he added.

“Air and maritime cooperation between the two countries could begin immediately which will boost tourism, trade and investment at both ends, and also help grow such segments as medical tourism through direct and onward flights. We also look to SriLankan (Airlines) for onward flights potential from Seychelles to other parts of Africa such as South Africa which will open up lots of opportunities for SriLankan. SriLankan’s marketing aimed at Eurpore, such as Paris, can benefit Seychelles as a destination. We are prepared to give facilities to SriLankan Airlines for direct flights to Seychelles. I think together we can achieve a lot for our countries”, the Seychelles’ President further said.

In 2011, Sri Lanka’s largest international investment partner was Seychelles which invested $ 253 Mn in Sri Lankan followed by India and Hong Kong at $ 147 Mn and 139 Mn respectively. In the same year, Sri Lanka’s exports to Seychelles stood at $ 0.83 Mn while imports were at $ 1.64 Mn. Main products exported from Sri Lanka include, tea and fishing vessels, and processed food products.




Contact Information:: Send mail to with questions or comments about this web site.
Last modified: August 23, 2012.

Copyright © 2008 Policy Research & Information Unit of the Presidential Secretariat of Sri Lanka. All Rights Reserved.