Sri Lanka & Australia to discuss economic and maritime cooperation this week
Sri Lanka and Australia are set to take stock of their economic partnership and maritime cooperation as they convene the 05th Round of Senior Officials Talks and the 03rd Strategic Maritime Dialogue in Canberra from March 25-26, 2025.
A Sri Lankan delegation led by Additional Secretary Yasoja Gunasekera will participate in the discussions set to take place at Australia’s Department of Foreign Affairs and Trade (DFAT).
The meetings will be co-chaired by First Assistant Secretary of DFAT’s South and Central Asia Division Sarah Storey.
“The consultations will take stock of the bilateral, regional and multilateral relationship between the two countries including on strengthening cooperation in key areas, including political engagement, economic partnership, maritime cooperation, development partnership, defence, education, tourism and people to people engagement” the Foreign Ministry said in a statement.
The last round of discussions between the two nations was held in June 2023, during which both sides reaffirmed commitments to improve collaboration in trade, security and sports.
In 2023, trade between Sri Lanka and Australia amounted to approximately US$ 1.6 billion, with Australian exports largely driven by education services and agricultural products.
Moreover, Australia’s total investment in Sri Lanka topped US $115 million during the year while Sri Lanka’s investment in Australia reached US$ 83 million, according to the DFAT.
Economic cooperation between the 2 nations is primarily facilitated by the Australia-Sri Lanka Trade and Investment Framework Arrangement (TIFA) which was first established in 2017 to improve market access and investment opportunities between the two countries.
Renewed in 2023, TIFA is aimed at strengthening bilateral engagement through the Joint Trade and Investment Committee (JTC), which plays a pivotal role in streamlining trade and investment processes.
