For the first time, Sri Lanka has entered the serious Eurozone investment radar and a high profile German investor team is heading to Colombo in August 2013 for an in-depth study of emerging opportunities in the country, the Ministry of Industry and Commerce announced last week.
“Asia is world’s new economic tiger and Sri Lanka is one of the fastest growing economies in Asia. We are planning to send a representative team in August to study emerging opportunities in Sri Lanka” announced immediate past President of DAW German-Asian Business Circle (Deutsch-Asiatischer Wirtschaftskreis e. V) RA Ekkehard Stein on February 25, in Frankfurt, Germany.
Stein, a senior lawyer with Wiesbaden, Hesse based law firm Paule & Partner, was addressing 2013 DAW Asia Pacific Forum at Maritim Hotel in Frankfurt, acknowledging the detailed keynote statement made by Minister of Industry and Commerce of Sri Lanka Rishad Bathiudeen, at the Forum.
The Forum was organized and held by DAW German-Asian Business Circle. According to DAW officials, DAW German-Asian Business Circle represents more than 1900 top German firms operating in German industries and investments for decades, and is one of the two most influential German–and by extension, in overall Eurozone - lobby groups focused on Asia with ability to influence German (and by extension, overall Eurozone) policy directions.
The renowned Audi Group, EU logistics group Shenker, Fraport AG (Frankfurt Airport Services, are among the firms represented in DAW. Also for the first time in DAW series, Sri Lanka has been upgraded to a ‘representative country slot’ alongside the only other Asian nation to be picked for this year, Vietnam.
Signaling Sri Lanka’s significance, this year’s DAW Forum also featured a special ‘Sri Lanka only’ parallel session attended by keen German investors bullish on Sri Lanka.
“Asia is a big market but a complex one” said Stein and added: “Asia is and will stay the fastest growing market for the German economy. DAW aims to create an information platform to enable German and European companies to get directly in touch with political leaders from Asian countries and to get first-hand details on latest developments there. Indonesia, Sri Lanka and Vietnam stood up in the last three years. Sri Lanka being one of fast growing countries in Asia, we are now planning to send a representative team in August to study new opportunities in the country”.
Stein did not elaborate further on the August ’13 mission to Sri Lanka.