Secretary General of the Board of Investment of Thailand assures enhanced vigorous cooperation with Sri Lanka to Sri Lanka Ambassador

Ambassador of Sri Lanka and Permanent Representative to the UNESCAP, C. A. Chaminda I. Colonne and the Secretary General of the Board of Investment (BOI) of Thailand, Narit Therdsteerasukdi had a discussion on 19th January 2024 at the Head Office of the Board of Investment in Bangkok. The Board of Investment of Thailand is a government agency under the Office of H.E. Srettha Thavisin, Prime Minister of Thailand and under the Chairmanship of Hon. Parnpree Bahiddha-Nukara, Minister of Foreign Affairs and Deputy Prime Minister of Thailand. The core roles and responsibilities of the BOI Thailand are to attract foreign investment into Thailand and promote Thai overseas investment.

During the discussion the Secretary General of the BOI of Thailand emphasised that he believes the trade and investment volume will increase with the implementation of the Sri Lanka-Thailand Free Trade Agreement which will be signed in February 2024.

Ambassador Colonne highlighted that despite the longstanding historical relations between Sri Lanka and Thailand based on Buddhist religious values, the two-way trade between Sri Lanka and Thailand was only USD 352 million in 2022, and the total investment received from Thailand in Sri Lanka is negligible, with only USD 0.74 million recorded in 2022, and requested for vigorous collaboration with the BOI Thailand to attract Thai investors to Sri Lanka.

While handing over the Thai version of the “Ready to invest opportunities in Sri Lanka” published by the Board of Investment of Sri Lanka, Ambassador Colonne elaborated on the opportunities available in Sri Lanka for Thai investors and invited a delegation of potential Thai investors to visit Sri Lanka since now it is the right time to invest in Sri Lanka.

At the request of Ambassador Colonne, Secretary General Narit agreed to arrange a series of awareness programmes in Thailand on the benefits of the Sri Lanka-Thailand Free Trade Agreement (SLTFTA) in collaboration with the Embassy immediately after the conclusion of the SLTFTA.

Secretary General Narit further stated that, there are immense potential opportunities in Thailand for collaboration for Sri Lankan businessmen in the sectors of Bio-Circular-Green Economy (BCG), Automobile, Electric and electronic appliances, Digital and creative industry and as a destination for Multi-National Companies to use Thailand as a hub in South East Asian region for investment.

Executive Director of Foreign Investment Marketing Division, Tanita Sirisup and Director of Thai Entrepreneurship Development Division, Patcharada Nawakawongkarn, from the BOI Thailand and First Secretary (Commercial), Vireshika Bandara joined the discussion.

Embassy and Permanent Mission of Sri Lanka
Bangkok, Thailand
01.02.2024