Czech to explore trade and investment opportunities in Sri Lanka

A business delegation of leading Czech companies led by the Ambassador Milan Hovorka are in Sri Lanka to explore opportunities for trade and investment where Upul Jayasuriya, Chairman of BOI, and a few representatives met the Czech delegation and there the Ambassador Hovorka brought their attention on the areas of interest of the Czech Republic Companies.

Currently trade between Sri Lanka and the Czech Republic is small. The Czech Republic imports US$50 billion of product from Sri Lanka and including textiles, Garments and Tea while Sri Lanka only imports about US$10 million worth of Czech made products.

This meeting is to be considered as laying the foundations for a ministerial level meeting between the two countries. However, commercial relations between the two countries had not expanded and steps are being made to upgrade relations between the two countries with a strong focus on economic relations.

The Czech Republic is a highly industrialized Country with a healthy and rapidly growing economy. The country is also a member of the European Union and has had excellent relations with Sri Lanka.

During the period of former Czechoslovakia, they had been significant trade of Czech products which were exported to Sri Lanka.