Sri Lanka has a strong image as a tea-producing country, but in recent years, the civil war has ended and economic activity has been invigorated. In 2012, it achieved its highest ever growth of 9.1%, and it has continued to record sustained economic growth since then (Ministry of Foreign Affairs research). It has become a popular tourist destination in recent years and expectations of Sri Lanka as a business location to follow India are also increasing. Japan is Sri Lanka’s 2nd largest supplier of economic aid, the 3rd largest importer of Sri Lankan goods, and its 10th largest exporter (Ministry of Foreign Affairs research), and thus continues to have a large impact on the Sri Lankan economy. It is also very familiar to Sri Lankans as the country of “Oshin,” a Japanese television drama that achieved worldwide popularity.
Legally, although Britain has exerted a strong influence on Sri Lanka, its legal system could be described as not fully mature. Even those used to doing business in India or China are often said to face challenges when doing business in Sri Lanka.
Therefore, to establish a presence or handle legal issues in Sri Lanka, it is extremely important to gather information from and partner with local law firms.
Kitahama Partners has extensive professional and personal networks with Sri Lankan law firms and legal professionals, offering a firm foundation for responding flexibly to clients’ needs. We have a great deal of experience partnering with law firms in developing nations, including Sri Lanka, so please feel free to consult with us.