Estonia developing economicrelations with Sri Lanka

Photo: Välisministeerium

At his meeting with Sri Lankan Minister for Economic Development Basil Rajapaksa, Foreign Minister Urmas Paet said that Sri Lanka is an attractive economic partner for Estonia in the transit and logistics sector. “Sri Lanka is one of South Asia’s most important shipping countries, and Estonia could serve as a gateway to European Union and Russian markets for Sri Lankan entrepreneurs,” he noted. The foreign minister also added that the European Union is Sri Lanka’s biggest trade partner and primary export market.

Foreign Minister Urmas Paet opened a seminar for Estonian and Sri Lankan entrepreneurs in Colombo that is taking place in co-operation with the European Union Chamber of Commerce in Sri Lanka.

Paet stated that the transport sector plays a vital role in Estonia’s economy, as around 12% of the GDP comes from the transport sector. “Estonia’s strategically favourable location and the modern infrastructure and technology in our ports would allow Ski Lankan entrepreneurs to arrange transit more effectively here than in most other European ports,” stated Paet. “The combination of maritime, highway, and railway connections helps to save time and expenses and allows for access to both the European and Russian markets,” he added.

Participating in the Estonia-Sri Lanka business seminar in Colombo is an Estonian business delegation made up of entrepreneurs from the logistics and IT sectors as well as producers of security and surveillance equipment, wooden houses, polyethylene products, motor and industrial oils, and rawhide and tanned hides.
The Estonian business delegation’s visit is taking place through the co-operation of the Estonian Chamber of Commerce and Industry, Enterprise Estonia, the Estonian Logistics and Transit Association, and Estonian Honorary Consul in Sri Lanka Dudley Thambinayagam.