RAK Chamber and Sri Lankan Consulate Explore Enhanced Investment Partnerships

• RAK Chamber and Sri Lankan Consulate held bilateral investment talks
• Focus sectors: manufacturing, agriculture, logistics, tourism
• Sri Lankan businesses encouraged to use RAKEZ as regional base
• Follow-up trade mission to Colombo planned for Q1 2027

• 2025 — Key year
• $4.2bn — Project value
• 12% — Notable rate

## What was discussed at the RAK Chamber–Sri Lanka meeting? On 23 October, the Ras Al Khaimah Chamber of Commerce and Industry hosted a delegation from the Sri Lankan Consulate in Dubai, led by Consul General Mr. Upul Weerasinghe. According to the WAM release, discussions centred on four priority sectors: (1) manufacturing — Sri Lankan apparel, ceramics, and rubber-products firms setting up in RAKEZ to serve GCC and African markets; (2) agriculture — Sri Lankan tea, spices, and processed foods leveraging RAK's re-export hub status at Saqr Port; (3) logistics — joint warehousing and cold-chain investments in RAK's logistics parks; and (4) tourism — Sri Lankan hospitality training institutes partnering with RAK hotels to address skill gaps. The Chamber presented RAKEZ's dedicated packages for Sri Lankan SMEs, including reduced licence fees, fast-track visas, and access to the Industrial Trade Connect programme (see separate story).

## Why is Sri Lanka a strategic partner for RAK? Sri Lanka offers a complementary economic profile: a large, English-speaking, technically skilled labour pool; established manufacturing clusters in apparel, ceramics, and tea; and a geographic position linking South Asia to the Gulf. For RAK, Sri Lankan investment diversifies the emirate's industrial base beyond petrochemicals and construction materials into higher-value light manufacturing. Bilateral non-oil trade between the UAE and Sri Lanka reached $4.2 billion in 2025, with RAK accounting for an estimated 12% via re-exports. The meeting also addressed Sri Lanka's ongoing IMF programme and foreign-exchange constraints — RAK's dirham-denominated, free-zone environment offers a stable platform for Sri Lankan firms to retain export earnings and access dollar liquidity.

## What are the concrete next steps? The Chamber and Consulate agreed to: (a) organise a Sri Lanka–RAK Investment Forum in Colombo in Q1 2027, targeting 50+ Sri Lankan companies; (b) establish a dedicated Sri Lanka desk within the RAK Chamber to facilitate matchmaking; (c) explore a bilateral agreement on mutual recognition of standards for ceramics and food products; and (d) coordinate with Sri Lanka's Board of Investment (BOI) on joint incentive packages. For RAK businesses, the partnership opens access to Sri Lanka's growing consumer market (22 million people, rising middle class) and its strategic ports (Colombo, Hambantota) for onward distribution to South Asia. The initiative aligns with RAK's Economic Diversification Plan 2025–2030, which targets 15 new country-specific investment corridors.