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The Commonwealth Enterprise and Investment Council (CWEIC) officially launched its Sri Lanka hub in Colombo at the start of August. The event marked a new chapter in Sri Lanka’s efforts to position itself as a key player within the Commonwealth’s global business network.

The launch event was attended by a distinguished group of guests, including His Excellency Andrew Patrick, the British High Commissioner to Sri Lanka, State Minister for Investment Promotion Dilum Amunugama, Prasanjith Wijayatilake, Executive Director – Sri Lanka Board of Investment, and CWEIC Board Directors Pamela O’Leary and Niro Cooke. Senior corporate leaders from various sectors also joined the gathering, highlighting the broad interest and support for this initiative.

During the event, the High Commissioner Patrick the Commonwealth’s potential to serve as a bridge connecting Sri Lanka to some of the world’s most dynamic economies, particularly across Asia and India, which together encompass a significant portion of the global population. He pointed out that the Commonwealth’s reach extends beyond just business with the UK, offering a broader platform for economic cooperation and growth.

State Minister Amunugama expressed his gratitude to CWEIC for its efforts in promoting Sri Lanka as a promising destination for investment. He acknowledged the pivotal role of CWEIC Chairman Lord Marland in supporting Sri Lanka’s economic aspirations, calling him “a good friend of Sri Lanka.” The Minister also highlighted the significance of establishing a CWEIC hub in the country, viewing it as a testament to the organisation’s long-term commitment to fostering economic development in Sri Lanka.

Niro Cooke, Chair of CWEIC’s Sri Lanka hub also shared his thoughts on the occasion. “We are thrilled to see the establishment of the CWEIC hub in Sri Lanka. This will undoubtedly boost our efforts to position Sri Lanka as a key player in international trade and investment. The hub will facilitate meaningful connections and partnerships that can drive export trade, foster innovation and provide growth opportunities across various sectors of our economy.”

The Sri Lanka hub is expected to serve as a vital platform for local businesses seeking to expand into new markets within the Commonwealth, while also attracting foreign direct investment (FDI) to the country. By facilitating networking, collaboration, and the exchange of best practices among business leaders and policymakers, the hub aims to strengthen Sri Lanka’s trade relationships and investment prospects.

The launch of the Sri Lanka Hub reflects the growing momentum behind Sri Lanka’s efforts to engage more deeply with the Commonwealth, leveraging its strategic location and economic potential. The establishment of the hub is anticipated to play a critical role in advancing the country’s broader goals of economic diversification and sustainable growth, further solidifying Sri Lanka’s standing in the global economic landscape. Niro Cooke, will serve as Chair of the Sri Lanka Hub, with Deshan Gonawela serving as Country Director.