Several memorandums of understanding (MoUs) were recently signed between Sri Lankan businesspeople and Canadian expatriates to encourage investments in Sri Lanka, following the visit of a high-powered Canadian-Sri Lanka Friendship Group consisting of several Canadian members of parliament and business leaders to the island.

Canadian investors reportedly see tremendous business potential for cold storage plants to be set up in the north and east for fisherfolk to preserve their catch and for farmers to store their produce for export.

Irene Mathyssen, Canadian Member of Parliament for the House of Commons, stated that Canada will stand by Sri Lanka to build capacity. Canada has already contributed US$ 11.2 million to the Department of Official Languages for its work and according to Mathyssen is working with other agencies to help youth find jobs