FIEO and Sri Lankan trade body in MoU to boost bilateral trade and economic cooperation

In a significant step towards strengthening economic ties between India and Sri Lanka, the Federation of Indian Export Organisations (FIEO) and the National Chamber of Exporters of Sri Lanka (NCE) have signed a Memorandum of Understanding (MoU) aimed at enhancing bilateral trade and fostering deeper economic collaboration between the two neighbouring countries.

The MoU was signed virtually, marking a milestone in the trade relations between India and Sri Lanka. 

The partnership establishes a structured framework to enhance trade linkage: foster stronger networking opportunities between exporters of both countries and promote joint trade initiatives including participation in trade fairs, exhibitions and buyer–seller meets, facilitating the exchange of trade delegations and market intelligence and supporting exporters through capacity-building programs and sector-specific cooperation.

Commenting on the collaboration, Dr Ajay Sahai, DG & CEO, FIEO, said that the “MoU is a timely and strategic initiative that will serve as a catalyst in expanding trade volumes, unlocking new business opportunities, and reinforcing the historic and economic bonds between India and Sri Lanka”.

The MoU is expected to contribute meaningfully to the growth of bilateral trade and investment by leveraging each country’s strengths, enhancing competitiveness and facilitating smoother access to markets. It underscores the shared commitment of both organisations to support their respective export communities and contribute to the long-term development of Indo-Sri Lankan trade relations, said a release.

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