Sri Lanka is intensifying its focus on Central Asia, aiming to strengthen economic and diplomatic ties with the region. The Ministry of Foreign Affairs, in collaboration with the Geopolitical Cartographer, recently hosted the Central Asia Forum 2024. The forum highlighted the potential for future cooperation between Sri Lanka and Central Asia, a region gaining increasing geopolitical and economic significance.
A key discussion point was the success of Sri Lankan conglomerate LOLC Holdings in Central Asia. With operations in Tajikistan, Kazakhstan, and Kyrgyzstan, LOLC’s achievements in the financial services sector provided valuable insights into the Central Asian market and strategies for establishing competitive businesses in this emerging region.
The forum underscored the importance of improving connectivity between Sri Lanka and Central Asia, diversifying trade, and exploring collaborative opportunities in sectors such as textiles, energy, tourism, agriculture, IT, education, food and beverages, tea, gems and jewellery, transport and logistics, and Ayurveda and wellness products. Strengthening people-to-people contacts and leveraging synergies in environmental, tourism, and sports sectors were also emphasized.
Progress in Sri Lankan-Central Asian relations includes the successful completion of Foreign Office consultations with Kazakhstan, Kyrgyzstan, and Turkmenistan. Additionally, plans to establish reciprocal resident diplomatic missions in Astana and Colombo are underway, reflecting a commitment to deepening diplomatic and economic engagement between the regions.