Minister of Trade, Commerce, Food Security and Cooperative Development of Sri Lanka, H E Wasantha Samarasinghe speaking to The Peninsula at WIF. Pic: Rajan Vadakkemuriyil / The Peninsula
Doha, Qatar: Colombo is seeking to deepen trade and investment ties with Doha and revive bilateral economic cooperation as the island nation looks to attract international capital after its recovery from the 2022 economic crisis, the Minister of Trade, Commerce, Food Security and Cooperative Development of Sri Lanka, H E Wasantha Samarasinghe said.
In an interview with The Peninsula at the UN Trade and Development (UNCTAD) World Investment Forum, Minister Samarasinghe said the two countries had maintained good relations for more than five decades and that there was “considerable scope” to expand their economic partnership.
The Minister said he “had met with Qatar’s trade representatives”, including in a bilateral meeting in Doha, to explore ways to strengthen trade relations. “We discussed how to strengthen our trade relations and how we can start our bilateral trade discussions,” he said.
Minister Samarasinghe noted that a Qatar–Sri Lanka joint commission meeting had previously been held in Sri Lanka in 2017, but had not convened since then. He said, “The new Sri Lankan government was planning to restart the joint commission mechanism to advance cooperation in trade and other areas.”
The Sri Lankan delegate expressed hope that renewed engagement would usher in a new phase in diplomatic and economic relations, creating greater opportunities for Sri Lankan businesses and investors from Qatar.
Samarasinghe said, “Sri Lanka’s participation in the World Investment Forum was aimed at presenting investment opportunities to international investors, including Qatar.” He encouraged investors to explore the country’s potential as Colombo seeks to strengthen its economy and attract capital to support future growth.
Reflecting on the 2022 economic crisis, Samarasinghe said the country had undergone a difficult period before the new government took office. He emphasised that the government had subsequently moved to restructure debt, resume repayments and introduce new laws and enforcement mechanisms to improve the investment environment.
The Minister also highlighted the importance of political stability and a more predictable policy environment in restoring investor confidence. Sri Lanka’s recovery remains closely linked to its efforts to restore debt sustainability, strengthen governance and improve conditions for private investment.
The International Monetary Fund has continued to support the country’s reform programme, with debt restructuring and improvements to the investment climate among the key priorities. Samarasinghe said the government was working to establish a stronger framework for investment and improve the country’s political and economic environment.
The Minister added that closer bilateral engagement, together with Sri Lanka’s participation in international investment forums, could help open new opportunities for economic cooperation.
Loading comments…