Dr. Harsha addresses COYLE on ‘Role of Sri Lankan Missions Overseas for International Trade’

From left – Mr. Kushan Kodituwakku, Senior Vice Chairman – COYLE, Mr. Kasun Rajapaksa, Chairman – COYLE, Hon. Dr. Harsha De Silva, Deputy Minister of Foreign Affairs, Mr. Dinuk Hettiarachchi, Vice Chairman – COYLE.

Deputy Minister of Foreign Affairs Dr. Harsha De Silva addressed the Chamber of Young Lankan Entrepreneurs (COYLE) comprising leading business entrepreneurs representing a cross-section of commercial and industrial organisations. 

The meeting, hosted by HNB, was held at HNB Towers, Colombo 10 and was on the topic ‘Role of Sri Lankan Missions Overseas for International Trade’. This is a part of the Government’s strategy of developing overseas missions to help local businesses including small and medium sized enterprises to better profit from fast-growing and emerging international markets for the mutual benefit of businessmen and the country. Spearheaded by Dr. de Silva, it is the first time in Sri Lanka’s history that such a mission has been undertaken. 

The proceedings commenced with an address by the host, HNB Managing Director Jonathan Alles, who reiterated the bank’s commitment to serving such a distinguished group of members and assured COYLE of a preferred banking service for its members. The full spectrum of services was then presented by Head of Priority Banking (Club & Priority Circle Customers) who invited COYLE to this elite membership. 

Dr. de Silva presented the ministry’s priority task of addressing the issue of creating a dedicated and more effective method of promoting Sri Lanka as a trading and investment destination to the world using the platform of its overseas missions. It would include Diplomatic Service Personnel presenting this updated information on the country’s industries and services, based on factual research covering the areas of trade and commerce, tourism, exports and allied imports, Government regulations, investment regulations, trade tariffs and concessions.

The proposed action plan seeks to help Sri Lanka’s economy and tourism sector get back on track as a consequence of the pivotal role to be played by these missions. He further assured COYLE of his unstinted support and assistance in making things happen in the business environment through his ministry and stated that COYLE could make use of the presentation tools to strengthen their bids for trade and investment opportunities.

The Minister also allayed the concerns of members over the Economic and Technology Cooperative Agreement (ETCA) between India and Sri Lanka, when questions were raised regarding the necessity to establish a regulatory mechanism and the need for an effective national trade policy.

COYLE Chairman Kasun Rajapaksa congratulated the minister for introducing guidelines on international trade for Sri Lankan foreign missions overseas on newer methods of promoting Sri Lanka and a mechanism to evaluate the objectives. 

He also stated: “As members of COYLE, we are pleased that we can play a major and mutually beneficial role in the overseas mission endeavours transition in Sri Lanka which will have a significant impact for local entrepreneurs in the global arena.”

“The Government should not rush into sign bilateral agreements without studying the impact to the local business community and COYLE urges the Government to implement proper regulatory mechanisms and legislations that are to be introduced to safeguard the local entrepreneurs of this country,” Rajapaksa said.