- Both countries strengthen historic bonds
- Explore collaboration between Colombo Port City and the Suez Canal Economic Zone
- Extends invitation to each other for investments
Sri Lanka and Egypt have maintained strong bonds for centuries and the ties have been further strengthened with both countries extending invitations to each other for investments.
Sri Lanka has invited Egyptian companies to invest in key sectors, such as Colombo Port City and the ITC sector according to a top official of the Sri Lankan Embassy in Cairo.
Sri Lankan Ambassador to Egypt, Sisira Senavirathne said that during the past sessions of the Joint Economic Commission (JEC) discussions were focused on fostering collaboration between Colombo Port City and the Suez Canal Economic Zone.
There has also been growing interest from Sri Lankan IT companies seeking trade and investment opportunities in Egypt.
He said that further discussions will be held on the potential for setting up a FTA/PTA between Sri Lanka and Egypt at the third session of the JEC.
Given the current global trade environment, where bilateral and regional trade agreements hold increasing significance, this initiative is particularly timely. Sector-specific promotional efforts have identified key Sri Lankan exports, such as Ceylon Tea, Ceylon Cinnamon, and other spices as high-potential products.
Under the Economic and Technical Cooperation Agreement, a Joint Committee was formed in 1990 to promote trade and address trade-related matters. The first session of this committee took place in Sri Lanka, during which both countries agreed to elevate it to a Joint Economic Commission, co-chaired by the Trade Ministers of the two nations. The inaugural session of the JEC was held in Cairo in January 1996.
At the second session of the JEC, in Cairo in November 2002, both sides explored the possibility of setting up a Free Trade Agreement (FTA) or Preferential Trade Agreement (PTA).
“Tourism is recognised as a key avenue of soft diplomacy that brings mutual benefits to both countries. It remains one of the most promising sectors for strengthening bilateral relations,” the Ambassador said.
In this regard, the setting up of a Joint Tourism Committee has been proposed, and both parties acknowledge the importance of such mechanism for enhancing tourism cooperation.
The Sri Lankan Mission in Cairo has planned and undertaken a range of initiatives to promote Sri Lanka as a preferred tourist destination for Egyptian travelers according to the Ambassador. The efforts include targeted promotional campaigns, social media outreach, and the facilitation of media and familiarisation tours to Sri Lanka. Regular engagement with travel agencies and collaboration with tourism-related chambers have been prioritised as important strategies to enhance Sri Lanka’s visibility and appeal as a tourist destination in the Egyptian market.
Setting up of direct air connectivity between the two countries is considered a key for boosting tourism. The Mission has begun discussions with major airlines operating in Egypt, including Aljazeera Airways and Gulf Air, to explore collaborative opportunities for promoting Sri Lanka tourism.
Egypt Air has also been recognized as a potential carrier for establishing direct flights between Cairo and Colombo.
It has been observed that the active participation of companies and business entities in trade and business events held in each country plays a vital role in enhancing bilateral trade and investment. Egypt, regularly hosts various trade fairs and exhibitions that facilitate business-to-business engagement.
Tourist arrivals from Egypt to Sri Lanka have shown a steady increase, with a growth of approximately 32% recorded in 2023.
“The Sri Lankan Mission promotes the participation of Egyptian business entities in key trade events and business forums held in Sri Lanka, such as Disrupt Asia, Industry Expo 2025, FACETS, and Expo 2026, International Gems and Jewellery Exhibition. Likewise, the Mission encourages Sri Lankan businesses to take part in prominent trade exhibitions and forums in Egypt, including Fi Africa, Sahara, Pharmaconex, and Cityscape Expo, with the aim of exploring new trade opportunities.
“Recognizing the importance of direct B2B engagement, the Mission also emphasizes the need to organize trade delegations between the two countries, particularly at the trade chamber level, to explore business opportunities and strengthen sector-specific partnerships,” the ambassador said.
