Virtual launch of top German Brands in Sri Lanka | Page 2 | Sunday Observer

Virtual launch of top German Brands in Sri Lanka

14 February, 2021

The seventh edition of Top German Brands in Sri Lanka was launched recently.

German Ambassador Holger Seubert and Chief Delegate of German Industry and Commerce in Sri Lanka  Andreas Hergenröther were the chief guests. BOI Chairman Sanjaya Mohottala and over 100 representatives of German brands were also present. 

“We are very proud that finally, despite the Covid-19 pandemic, 176 German brands have joined Top  German Brands 2021, which is an increase of 13% compared to last year” said Chief Delegate Andreas  Hergenröther. Top German Brands logos will be shown during the upcoming year at the premises of the German Embassy, the Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) and in  the frame of multiple events.  

German Ambassador Holger Seubert said, “To increase the presence and to encourage further  FDIs of German companies, a reliable legal framework and a level playing field are of crucial importance.”  Referring to the fact that Sri Lankan exports to Germany were three times higher than German exports to Sri Lanka. Germany is committed to free and fair trade. Bilateral trade degenerating into a one-way street is neither free nor fair.” 

German exports to Sri Lanka decreased until the end of November by 26.8%, while Sri Lankan exports to Germany decreased by 5.8%. Until the end of November German exports to Sri Lanka were worth about Euro 215 million last year, while Sri Lankan exports were over three times higher reaching about Euro 664 million. Following the presentations, the participants had the opportunity to continue the discussion with the speakers.

“It has  become increasingly difficult for clients to manage their FX exposure, given the unprecedented current  market environment and volatility which could continue in the near term. Deutsche Bank has been operating in Sri Lanka for 40 years and has been supporting clients to meet their daily transaction banking and foreign exchange requirements through many different economic cycles,” said Dhakshitha  Serasundera. 

The German-Sri Lankan Fast Track Dialogue, which was initiated in 2019, will be continued on February 25 to support current and future German investments in Sri Lanka. German companies will have the opportunity to discuss in a result-oriented way with the BOI Chairman and other Sri Lankan authorities concrete challenges and opportunities with regards to their existing or future investments.