As the Sri Lankan economy recovers, Australia stands alongside it as a trusted partner of choice. We listen to each other and are working together on joint development solutions to support the growth of a strong, successful Sri Lanka.
Equitable growth
Australia has been a longstanding partner in promoting Sri Lanka’s equitable growth. Our investments in export-oriented and high-value segments of the agriculture, fisheries and tourism sectors are well regarded and have embedded a community-based development approach to sustainability.
The Australian Trade and Investment Commission’s (Austrade’s) engagement with Sri Lanka focuses on trade facilitation and market access, with a two-way goods and services trade valued at $2.1 billion in 2023.
Australia’s long-running investments in equitable growth, such as the Economic Opportunities for the Poor portfolio, have delivered results in promoting private sector-led economic growth and poverty reduction through multiple modalities and partners.
Our work to promote equitable growth will continue to focus on targeted engagements across the market system. Complementary activities and initiatives will target individuals and communities to strengthen empowerment and inclusion. These include the Market Development Facility, which focuses on export-oriented and high-value segments of the agriculture, fisheries and tourism sectors, providing opportunities for inclusive growth.
Additionally, we will continue to support marginalised groups to access inclusive, climate resilient and decent work opportunities. Across these investments, climate change adaptation, access to finance and the adoption of digital tools will continue. In the skills sector, we will consider lessons and evaluations from previous investments to carry forward Australia’s legacy and achievements in the skills sector.
Empowerment and inclusion
Our economic programs have a strong focus on equity and inclusion and the contribution to the One UN Fund through our humanitarian response complemented our bilateral engagement, including by supporting women in politics and empowering citizens to effectively engage in democratic processes.
A mainstreaming approach will be applied to all programs, ensuring that inclusion and barriers to participation are considered across our portfolio.