News Today: Sri Lanka & Kuwait Strengthen Trade Ties

President Anura Kumara Dissanayake met His Highness Sheikh Ahmed Abdullah Al Ahmad Al Sabah, Prime Minister of Kuwait, at the 2025 World Governments Summit to discuss enhanced trade relations, investment, and economic cooperation.

The discussion focused on Sri Lanka’s improved political and financial stability, unlocking new trade and tourism opportunities between the two nations. President Dissanayake emphasized Sri Lanka’s strategic potential for Kuwaiti investors, highlighting the nation’s stable economic growth trajectory.

Expanding Bilateral Trade & Economic Partnerships

Both leaders explored new ways to:
✅ Strengthen trade relations and diversify markets
✅ Attract Kuwaiti investments in Sri Lanka’s key industries
✅ Enhance tourism and hospitality collaborations
✅ Develop long-term strategic economic initiatives

President Dissanayake also expressed deep gratitude to Kuwait for its support in securing Sri Lanka’s IMF loan facility, acknowledging its vital role in economic recovery. He reiterated Sri Lanka’s commitment to strengthening bilateral economic ties and fostering new avenues for financial cooperation.

Kuwait’s Role in Sri Lanka’s Economic Growth

Sri Lanka’s labor force in Kuwait plays a crucial role in the national economy, with 155,000 Sri Lankan workers contributing USD 700 million annually in remittances. This financial inflow significantly boosts Sri Lanka’s foreign reserves, reinforcing economic stability.

President Dissanayake assured Kuwait’s Prime Minister of continued collaboration to safeguard the rights and welfare of Sri Lankan workers in Kuwait.

Accompanying the President on this visit was Minister of Foreign Affairs, Foreign Employment, and Tourism, Vijitha Herath, reinforcing Sri Lanka’s commitment to expanding bilateral trade and labor relations.