SCCI and Sri Lanka explore new avenues of economic cooperation

Abdullah Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry (SCCI), and Alexi Fonseka Gunasekera, Consul General-designate of the Democratic Socialist Republic of Sri Lanka to Dubai and the Northern Emirates, have discussed ways to strengthen economic cooperation and foster investment partnerships between business communities in both nations.

During a meeting held at the SCCI headquarters in the presence of Mohammed Ahmed Amin Al-Awadi, Director General of SCCI, and Fatima Khalifa Al Mokarrab, Director of SCCI’s International Relations Department, the two sides explored avenues for incentivizing businesses across various sectors to bolster the exchange of information regarding investment opportunities.

During the gathering, the two sides emphasised the imperative of private sector entities’ participation in trade and industrial exhibitions. Discussions also delved into cooperation prospects between Sharjah and Sri Lanka’s business communities and strategies to promote reciprocal visits of trade delegations.

Furthermore, the meeting put the spotlight on opportunities to hold new business forums and open new communication channels, thereby enhancing coordination between businessmen in the two communities. This paves the way to expand the horizons of mutual investment endeavours in key sectors to stimulate sustainable and inclusive economic growth in both countries.

Abdullah Sultan Al Owais welcomed the Sri Lankan Consul, stressing that the Sharjah Chamber seeks to enhance cooperation with the Sri Lankan business community.

He expressed the SCCI’s keen interest in exploring diverse investment opportunities across various sectors and discovering the advantages and incentives the Sri Lanka’s investment environment offers to investors and businessmen affiliated with the Sharjah Chamber.

Highlighting the Memorandum of Understanding (MoU) signed by the UAE and Sri Lanka to enhance cooperation in civil aviation, Al Owais pointed out that the relationship between the two countries paves the way for Sharjah’s business community to identify and uncover promising future investment prospects in Sri Lanka, especially within the tourism and services sectors, which exhibit favorable indicators for fruitful collaboration.

He emphasised that the MoU was signed with the aim of strengthening bilateral relations between the UAE and Sri Lanka and stimulating opportunities to offer a more diverse range of tourism services, as well as supporting the economies and tourism sectors in both countries and enhancing the performance of business sectors across various commercial, industrial, and service activities.

The Sharjah Chamber of Commerce and Industry recently hosted a series of brainstorming sessions to discuss best practices for raising the volume of businesses exports, developing their performance, and identifying their needs.

Attended by a number of entrepreneurs from leading industrial firms and diverse sectors, alongside heads of sectoral business groups, the two-day event was organised by the SCCI’s Sharjah Exports Development Centre (SEDC) in collaboration with sectoral business groups operating under the umbrella of the chamber.

Held at Kingfisher Retreat in Kalba City, the gathering was attended by HE Mohammed Ahmed Amin Al Awadi, Director General of SCCI, and Abdul Aziz Al Shamsi, Assistant Director-General for Communication and Business Sector in SCCI, as well as Ali Al Jari, Director of SEDC, and Amjad Awad Al Karim, Head of SCCI’s Sectoral Business Groups Section. The brainstorming event explored ways of facilitating private sector operations, ensuring their positive impact on the emirate’s economic growth, and fostering robust communication between the Sharjah Chamber and its affiliated members.

During the sessions, Emirates Development Bank (EDB) showcased its banking services and credit facilities as part of its continuous efforts to foster its partnership with the private sector, thereby paving the way for new business ventures.

Mohammed Ahmed Amin Al Awadi emphasised that the Sharjah Chamber is committed to advancing the business industry and bolstering its role in fostering integration for sustainable economic development.

He noted that the SCCI’s brainstorming sessions, which brought together experts and stakeholders from the chamber’s affiliates and staff members, discussed strategies aimed at promoting Sharjah’s export share following global best practices in the business community.

He added that the chamber will spare no effort to bolster the business sector and bolster positive practices to ensure sustained economic growth.

Al Awadi pointed out that the diverse representation of various sectors and business groups during the brainstorming sessions allowed participants to understand the impact of each sector and explore new opportunities that offer great potential for further growth and expansion in export sectors.

Additionally, he emphasized that such gatherings facilitate the exchange of ideas regarding inter-sectoral cooperation, thereby enhancing the overarching business environment.

Moderated and supervised by expert Bashar Safadi, the brainstorming sessions featured panel discussions about various ideas for enhancing performance. Participants delved into reviewing global success stories and drawing from previous experiences of companies. Additionally, the sessions addressed the identification of promising markets and the factors driving their selection.

Moreover, the discussions highlighted the priority of developing and training human resources to achieve leadership and competitiveness in the export sector. The sessions also touched on human capital’s role in bolstering trade exchanges between Sharjah and global markets and supporting the diversification of Sharjah’s economy.

Furthermore, the sessions focused on fostering cooperation and partnership relations between SCCI and Chambers of Commerce, as well as regional and international bodies and institutions. This coordination, in turn, serves the business community in the emirate of Sharjah, reinforcing its stature as a principal hub for numerous international economic events and activities.

The sessions concluded by outlining key takeaways, comprising an intensive analysis and synthesis of the participants’ most innovative ideas discussed across all session themes. These insights, encapsulated in proposals, solutions, and initiatives, are set to be transformed into actionable steps within the Chamber’s operational strategy to drive the business environment to new heights and enhance the export capacity of Sharjah.

The two-day event was organised by the SCCI’s Sharjah Exports Development Centre in collaboration with sectoral business groups operating under the umbrella of the chamber