Sri Lanka business conditions improving, German envoy says
ECONOMYNEXT – Business conditions in Sri Lanka are improving, Germany’s envoy has said, urging German companies present in the island to show more understanding when faced with implementation delays.
“In the past 18 months Sri Lanka has turned around and reached out to Germany,” Ambassador Juergen Morhard said.
There had been several exchanges of visits between political and business delegations of both countries, including President Maithripala Sirisena’s visit to Germany, he said.
Morhard called for more visits by companies to Germany to deepen existing business and investment links between the German export powerhouse and the emerging island economy positioning itself as a hub in the Indian Ocean.
Businesses should not worry too much about news headlines and instead focus on their bottom-line, said Morhard, who calls himself ‘German brands ambassador’ in Sri Lanka.
“At the top policymaking levels there is much understanding but implementation takes longer than anticipated,” Morhard told the re-launch of ‘Top German Brands in Sri Lanka’, a brand awareness campaign of the Germany embassy.
More than 100 German brands are present in the island, ranging from Allianz, Adidas and Audi, BMW, Mercedes-Benz and DHL, to Kramski, Siemens, Villeroy & Boch and Volkswagen.
German automotive brands have 95% share of the island’s premium car market and Germany is also the top contributor in the field of vocational training while being the second largest import origin of machinery and mechanical appliances with 10% market share.
Germany is also Sri Lanka’s third highest source of inbound tourists with more than 100,000 visitors annually.
(COLOMBO, July 24, 2016)