(Commonwealth_ Sri Lankan High Commissioner to Malaysia, Air Chief Marshal (Rtd.) Sumangala Dias, recently hosted a pivotal meeting with the Small and Medium Enterprises Association of Malaysia (SAMENTA) at the Sri Lankan High Commission. This meeting marked a significant stride towards fostering stronger collaboration and networking between Sri Lankan business entities and Malaysian entrepreneurs, setting the stage for enhanced bilateral economic engagement.
The discussion between the High Commissioner and SAMENTA leaders underscored the importance of small and medium-sized enterprises (SMEs) in both Malaysia and Sri Lanka. SMEs are often regarded as the backbone of developing economies, and in Malaysia, their impact is particularly profound. SAMENTA, established in 1986, has played a vital role in supporting this crucial sector, representing and advocating for the interests of Malaysian SMEs. These enterprises make up 98.5% of all Malaysian businesses, highlighting their central role in driving the country’s economic growth and development.
The conversation at the meeting revolved around ways to harness the strength of this dynamic sector and extend its influence across borders through international partnerships. High Commissioner Dias and SAMENTA National President Datuk William Ng both expressed optimism about the potential for expanding the presence of Sri Lankan businesses in the Malaysian market.
President Datuk William Ng conveyed SAMENTA’s enthusiasm for welcoming more Sri Lankan enterprises into Malaysia’s growing and diversified economy. He acknowledged the mutual benefits of this engagement and shared SAMENTA’s commitment to assisting Sri Lankan SMEs in gaining greater visibility and market penetration in Malaysia. “We are excited to see Sri Lankan businesses increase their presence in our economy. SAMENTA will do everything we can to support new entrants, helping them navigate the Malaysian market and establish a strong foothold,” said Datuk William.
High Commissioner Dias, for his part, emphasized the need for a collective approach to address the existing trade imbalance between Sri Lanka and Malaysia. He pointed out that Sri Lanka’s exports to Malaysia remain limited, a gap that the Sri Lankan government and private sector are eager to bridge. Dias articulated the critical need for Sri Lanka to enhance its export capacity, diversify its offerings, and increase its visibility within Malaysia.
In addition to trade concerns, High Commissioner Dias highlighted tourism as another area ripe for expansion. “Sri Lanka has tremendous potential as an outbound tourism destination for Malaysians,” he said. He elaborated on Sri Lanka’s diverse offerings, ranging from stunning beaches and cultural heritage sites to ecotourism and adventure opportunities. Dias suggested that enhanced tourism partnerships could catalyze greater people-to-people ties, further strengthening economic and cultural exchanges between the two nations.
One of the most significant outcomes of the meeting was an invitation extended by SAMENTA for Sri Lankan business chambers and entrepreneurs to participate in the upcoming Small and Medium Enterprise Forum, scheduled to be held in October 2024 in Malaysia. This forum is expected to serve as a platform for knowledge sharing, networking, and collaboration, and it offers a critical opportunity for Sri Lankan SMEs to showcase their products, services, and innovations to a wider Malaysian audience.
The Small and Medium Enterprise Forum has been an important fixture in Malaysia’s business calendar, attracting key stakeholders from across various industries. For Sri Lankan businesses, the forum presents a chance to gain valuable insights into the Malaysian market and to build strategic relationships with local partners. High Commissioner Dias expressed his appreciation for the invitation, noting that the forum could help Sri Lankan companies explore fresh avenues for growth, not only in Malaysia but throughout Southeast Asia.
