Sri Lankan envoy interacts with commercial diplomats concurrently accredited to Sri Lanka from New Delhi

Sri Lanka's High Commissioner to India Milinda Moragoda had an interactive session with the New Delhi-based Trade Commissioners/ Commercial Diplomats concurrently accredited to Sri Lanka today at the High Commission premises.

Sri Lanka's High Commissioner to India Milinda Moragoda had an interactive session with the New Delhi-based Trade Commissioners/ Commercial Diplomats concurrently accredited to Sri Lanka today at the High Commission premises. This is part of the continued efforts to further expand engagement with the concurrently accredited Missions in New Delhi.

The interactive session was attended by Trade Commissioners/ Commercial Diplomats from Austria, Belgium, Denmark, Chile, Finland, Hungary, Mexico, Norway, Poland, Spain, and Sweden. The purpose of the meeting was to discuss ways to enhance trade and economic relations between Sri Lanka and these countries. During the meeting, High Commissioner Moragoda provided the participants with an update on the Extended Fund Facility (EFF) Arrangement with the International Monetary Fund (IMF), as well as the Indian Rupee trade and the planned economic integration with India.

The discussion covered a broad spectrum of topics related to trade and commerce, with a particular focus on promoting economic recovery in Sri Lanka, including through trilateral cooperation with the involvement of India. In March this year, the IMF Executive Board approved a 48-month extended arrangement under the Extended Fund Facility of USD 3 billion to support Sri Lanka's economic policies and reforms.

Of the total USD 3 billion funds, the country was immediately promised an initial disbursement of about USD 330 million. The High Commissioner's today's presentation provided insights into the current economic landscape and the steps being taken to improve the country's financial outlook.

The participants were able to gain a deeper understanding of the challenges faced by Sri Lanka and the strategies being employed to overcome them. High Commissioner Moragoda emphasized the importance of building strong partnerships and collaborations to promote economic growth and development. He also highlighted the potential for increased trade, investment and tourism between Sri Lanka and the participating countries. (ANI)

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