The inaugural Annual General Meeting (AGM) of the Freeport Operators’ Association was held at the Kingsbury Hotel Colombo recently marking a milestone for Sri Lanka’s logistics and freeport sector.
Governor of the Western Province, Hanif Yusoof was the chief guest and, General Manager of Avery Denisson Sri Lanka office, Lakshitha Dharmawansa, the guest of honour.
Director General of the Board of Investment Ms. Renuka M. Weerakone, Director General at the Treasury, Dr. Sulakshan Jayawadena and senior officials of the Export Development Board (EDB), including Ms. Priyadarshanie Hewawasam and Ms. Indumini Kodikara, Government officials, industry leaders, and member representatives were also present.
In his keynote, Governor Yusoof, himself a seasoned logistics expert and a respected visionary, underscored the transformative potential of Sri Lanka’s Free Zone model. He said the sector’s strategic role in driving economic development, job creation, and foreign reserve generation. Citing the country’s ongoing debt restructuring, he said logistics and Freeport operations are the key pillars to strengthen national reserves and pledged the Government’s continued support to develop the sector as a national priority.
Honorary Secretary General of the Freeport Operators Association, Rohan Masakorala and a prominent advocate for the logistics industry, paid tribute to pioneers such as Tuli Cooray, Noel Priyathilaka, Ashroff Omar and Treasury Officials in 2013 who were instrumental in setting up the legal foundation for free ports in Sri Lanka. He said that logistics currently contributes only 2% to Sri Lanka’s GDP, compared to average over 12% in global logistics hubs like Singapore and Dubai—a gap the country must strive to close.
He also said that there was a lack of coordination between regulatory authorities, and stressed the urgent need for a harmonised approach to support industry growth.
General Manager of Avery Dennison Sri Lanka, Lakshitha Dharmawansa, and a long-standing client of the free zone, shared his organisation’s experience with the free zone over the years, highlighting its consistent support and efficiency. Dharmawansa particularly recalled how, during the pandemic, operations within the free port continued without disruption, ensuring an uninterrupted supply chain during an exceptionally challenging period. He said his organisation recognises the numerous advantages of operating through Sri Lanka’s hubs and is actively exploring opportunities for further expansion.
Chairman of the Freeport Operators’ Association, Priyantha Punchihewa detailed how peers such as Singapore and Dubai have rapidly advanced through well-structured Freeport strategies. Singapore has over 900 weekly cargo flights to 90 cities, two million tons of cargo in 2024 with a projected five million by 2030.
Dubai: 70% of GDP from non-oil sectors, 15 million TEUs handled at ports, 69 vessels docked daily at Jebel Ali, and 2.2 million tons of air cargo handled in 2024 (20% YoY increase). He further highlighted emerging competition from Malaysia and Singapore’s joint Freeport initiative (projected to generate USD 30 billion by 2030), and India’s logistics expansion with developments such asVizhinjam Port. Countries such as Saudi Arabia, Qatar, and Egypt are also making bold legislative reforms to attract global logistics traffic.
In contrast, Sri Lanka’s Free Zone legislation, unchanged since 2012, was identified as a critical bottleneck. The Chairman said, “This is a matter of national urgency. We are losing ground to regional peers who are innovating faster and attracting global attention.
While acknowledging the BOI’s support, he called for more consistent and urgent engagement on policy and operational matters and proposed a state-led global promotional campaign — in close collaboration with the EDB — to firmly position Sri Lanka as a logistics hub on the global stage. He reiterated the need to benchmark successful global models and modernise domestic legislation to match today’s dynamic trade landscape. “With the right framework, Sri Lanka’s Freeport sector can become a cornerstone of our economy and a regional model of excellence,” he said.
