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European Chamber of Commerce expresses concern over Sri Lanka's crisis

The European Chamber of Commerce of Sri Lanka echoed concern expressed by its American counterpart over the ongoing political crisis on the island. 

"We are of the view that the current situation will result in many adverse economic and social consequences to the country, if it remains unresolved. We would like to highlight that foreign investors and potential businesses are increasingly losing confidence in the reliability of the business environment of Sri Lanka and are reluctant to enter the Sri Lankan market due to the current instability. Most of our members who are established in Sri Lanka and whom have been surveyed are already experiencing negative impacts on their businesses."

"We request the relevant political authorities to ensure a stable and reliable business environment through the legal and democratically established institutions as soon as possible. It has been observed that decision making procedures and Government processes have been adversely impacted and in some cases financial damage has been caused to business. We appeal to all parties, political or otherwise, to respect the rule of law to avoid FDI outflow and to enable us to continue promotion of FDI to Sri Lanka. We remain dedicated to the cause of promoting Sri Lanka to European and American investors and to promote fair business and sustainable bilateral trade."

Sri Lanka’s political crisis has continued for over a month after President Maithripala Sirisena appointed Mahinda Rajapaksa, who oversaw a military offensive that killed tens of thousands of Tamils, as prime minister. The ensuing crisis has led to widespread turmoil, with several international figures calling for talks on sanctions, the withdrawal of trade benefits and loans to Sri Lanka put on hold.

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