The Chamber of Lankan Entrepreneurs (COYLE) and the Indian Chamber of Commerce (ICC) have signed a Memorandum of Understanding (MoU) in Colombo to strengthen bilateral trade, investment and business collaboration between Sri Lanka and India.
The agreement was signed by COYLE Chairman Suren Chandraratna and Shivkumar Eashwaran, Chairman of the Indian Chamber of Commerce – Tamil Nadu, in the presence of business leaders from both countries during the India–Sri Lanka Bilateral Trade Delegation.
The MoU establishes a framework for closer cooperation between the two chambers, creating new opportunities for entrepreneurs and businesses through trade promotion, investment facilitation, business networking and knowledge exchange.
COYLE Chairman Suren Chandraratna said the partnership marked another important milestone in strengthening regional business cooperation.
"This MoU is about turning relationships into results. It brings together India's manufacturing strength and market scale with Sri Lanka's strategic location, agility and innovation.
"Together, COYLE and the Indian Chamber of Commerce will create practical opportunities for our members through business matchmaking, trade missions, investment partnerships and the exchange of expertise. We believe sustainable growth is built on collaboration, and this partnership is designed to create lasting value for entrepreneurs in both countries," he said.
The MoU was signed during the India–Sri Lanka Bilateral Trade Delegation, a strategic initiative aimed at strengthening economic cooperation, facilitating business-to-business engagement, promoting investment and creating long-term commercial partnerships between the two countries.
The agreement comes at a time of growing regional economic integration and reflects the commitment of both COYLE and the Indian Chamber of Commerce to fostering stronger cross-border partnerships that will contribute to increased trade, investment and shared prosperity.
With deep historical, cultural and economic ties, India and Sri Lanka continue to build on their trading relationship under the India–Sri Lanka Free Trade Agreement (ISFTA). Sri Lanka's strategic location in the Indian Ocean also positions it as a gateway to South Asia and major international maritime trade routes, creating opportunities for businesses in both countries.
Caption: COYLE Chairman Suren Chandraratna and Indian Chamber of Commerce, Tamil Nadu Chairman Shivkumar Eashwaran with Indian High Commissioner to Sri Lanka Santosh Jha following the signing of the MoU in Colombo.
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