Ceylon Chamber of Commerce signs MOU with Australia’s Market Development Facility to promote inclusive and sustainable private sector-led growth

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The Ceylon Chamber of Commerce recently entered into an MOU with Market Development Facility (MDF), Australia’s flagship private sector development program, to support the private sector in innovating to achieve growth and new economic opportunities for Sri Lanka.

MDF is an Australian Government funded multi-country initiative, implemented by Palladium in partnership with Swisscontact, which promotes sustainable economic development through higher incomes for women and men in its partner countries in the Indo-Pacific.

Through this joint initiative, CCC and MDF intend to host seminars and workshops, and encourage knowledge sharing through publishing research findings and business insights on topics that will drive bottom-line growth for the private sector.

“These discussions to inspire sustainable economic growth in Sri Lanka are timely, and Australia, through MDF, is proud to support the Ceylon Chamber of Commerce in this initiative,” said H.E. David Holly, Australian High Commissioner to Sri Lanka.

The first event to stem from this initiative will focus on increasing awareness among agribusinesses on the risks of climate change and its impact on business models. The planned climate change workshop will also encourage investments into climate adaptation strategies to improve agricultural livelihoods. A series of engagements are underway to organise an online forum with industry leaders to share their experience and business cases, for this purpose. This discussion will be suitable for senior officials, decision makers, planters and agri firms.

Mr. Manjula de Silva, CEO/Secretary General of the Chamber, added, “This is an important occasion as we enter into this MOU. CCC has a close relationship with the Australian Government and we are happy to be a part of this effort. There are clear purposes in getting into this partnership to carry out joint events, seminars and workshops of mutual interest. It is great to have one more partner added to our network.”

MDF Sri Lanka Country Director Momina Saqib stated that, “MDF is excited about the initiative and recognizes the Chamber’s important role in supporting the private sector, as well as its longstanding advocacy for private sector growth. MDF has a mandate of promoting private sector-led inclusive growth. We see shared goals and common objectives between CCC and MDF and believe this collaboration will bring will contribute to Sri Lanka’s prosperity.

In Sri Lanka, MDF’s focus is on supporting the high value tourism, agriculture and fisheries sectors with cross-cutting investments to promote climate change mitigation and adaptation, access to finance and digital tools adoption. To date, MDF’s investments have benefitted 28,710 men and women, generating and additional an additional income of USD 15,091,000 for these Sri Lankans.

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