Press briefing of Cabinet Decision taken on 2016-02-10

The Memorandum of Understanding between the Ministry of Industry and Commerce of the Democratic Socialist Republic of Sri Lanka and the German Association for Small and Medium-sized Enterprises of the Federal Republic of Germany for the Co-operation in the field of Small and Medium Enterprise Sector Development

- Small and Medium Enterprise sector has been identified as an important sector to be developed by the Government of Sri Lanka, taking into consideration the contribution it provides for the economic growth, employment generation and poverty reduction in Sri Lanka. Having considered its importance to be a driving force for the development, the policy of the government is to facilitate the Small and Medium Enterprise sector enabling it to access the export market. Accordingly, the Government has got an opportunity to enter into a Memorandum of Understanding for the promotion of the business opportunities and co-operation between the Small and Medium entrepreneurs of the Sri Lanka and Germany. Therefore, the proposal made by Hon. Rishad Bathiudeen, the Minister of Industry and Commerce, to sign the proposed Memorandum of Understanding between the Ministry of Industry and Commerce of the Democratic Socialist Republic of Sri Lanka and the German Association for Small and Medium-sized Enterprises of the Federal Republic of Germany, during the forthcoming visit of H.E. the President to Germany, was approved by the Cabinet.