Sri Lanka Maldives Business Council flourishing

The Memorandum of Understanding with the Maldives National Chamber of Commerce and Industry signed by the Ceylon Chamber of Commerce in 2008 to further strengthen trade relationship between the two countries has been fruitful, Sri Lanka Maldives Business Council President Tikiri Ellepola said.
“During my tenure as the President of the Council, we were able to attract a large number of new companies to join the membership of the Council. We have over 100 members as at May 15, 2016. This is a clear sign of interest shown by the business community in Sri Lanka to penetrate and further expand their business activities with Maldives.”
“It was proposed to invite Maldivian businesses to join our Council as Associate members.
“However, we regret to inform that we are yet to receive positive responses in this regard”.
“Therefore, I would be requesting N. Kadawatharatchie once he takes over the leadership of the Council shortly to consider accelerating a campaign to invite Maldivian businesses to join the Council.”
“Considering the importance of streamlining few challenges faced by business communities in both Sri Lanka and Maldives, we wish to once again propose to the Government of Sri Lanka to consider setting up of a forum with public and private entities in both countries to sit together and analyse the impediments faced to develop trade, investment and tourism with a view to mitigate such issues and constructively build a conducive business environment in both countries”.
“Exports from Sri Lanka to Maldives and Imports to Sri Lanka from Maldives have decreased during 2015. However, exports from Sri Lanka to the Republic of Maldives have been higher than the imports to Sri Lanka, resulting a positive balance of trade.”
Arrivals of Maldivian visitors to Sri Lanka have increased from 86,359 in 2014 to 90,617 in 2015. Lack of support of mechanism to solve legal issues faced by Sri Lankan companies dealing with Maldivian counterparts cause serious frustration when they trade with Maldives.
“We request Maldives to consider establishment of a Commercial Mediation Centre as an alternate means of trade dispute resolution. This request was made by our Council with respective government institutions however we are yet to receive a positive response”.