Ravi K invites SAARC nations to invest in Colombo International Financial City

Finance Minister Ravi Karunanayake has urged South Asian nations to invest in the upcoming Colombo International Financial City and enjoy benefits from the emerging economy of Sri Lanka.

He made this pitch during his address at the SAARC Finance Ministers’ meeting in Islamabad, Pakistan on Friday.

Minister Karunanayake invited SAARC nations to partner with Sri Lanka and invest in business ventures in Colombo International Financial City for its strategic geographical location.

Finance Minister Ravi Karunanayake in conversation with Pakistan Prime Minister Nawaz Sharif and Pakistan Finance Minister Ishaq Dar at the SAARC Finance Ministers’ meeting in Islamabad

“The Agenda provides a comprehensive outlook for the Eighth Meeting and I am sure the current session will be one of the most important sessions to be held throughout the years. My sentiments are based on the tremendous progress made by the Asian countries during the recent years coupled with the ever-expanding opportunities to enhance our economic standings. This century provides Asia an equal playing field to seek and conquer many challenges in securing success and prosperity economically, which had been eluding us for many decades and should I say somewhat deprived as well in the past,” Minister Karunanayake said. 

The historic first meeting of the SAARC Finance Ministers held in 2005 created the correct foundation and the member nations should be proud of weathering the recent global economic turbulence with courage and resilience whilst many nations of the Western world had to face a series of shockwaves creating economic insecurity and at times even bordering chaos, the Minister added.

Addressing the Summit, Minister Karunanayake further said: “I wish to elaborate on the new dimension of democracy unfolding in Sri Lanka since our Government on a platform of good governance and transparency took office in the 2015. We created political history in formulating a Government of national unity with the traditional rival political entities resolving to positively indulge in solving political, economic, national and social issues, which had festered over many long years.

“Draconian and dictatorial powers previously vested on a most powerful presidency have been whittled down, independent commissions installed and most importantly a Bill on Right to Information has been enacted. 

The value of unity which provides not only the essence but also serves as a catalyst to reach positive results beyond traditional boundaries for the betterment of a nation is exemplified by our progress.

“As you may remember Sri Lanka has waded through a protracted internal strife extending to over three decades culminating in 2009, faced a devastating tsunami in 2004 and also weathered the rule of a regime which brought down the economy through extravagant capital spending on non-profitable projects. Our Government is fully aware of the issues of concern and looks forward to extending hands of friendship to all nations, positively evaluating bilateral and multi-lateral free trade and economic agreements in creating win-win options.

“We are greatly indebted to your great nation for the assistance provided to us during difficult times that we had to endure in the past and the warm welcome and hospitality extended to the delegation from Sri Lanka coupled with the outstandingly excellent arrangements ensuring our stay here an unforgettable experience. As we all are aware, we have witnessed many instances of loss of life and limb and major collateral damage to people of many member nations during the recent past and I convey my deepest condolences all such victims on behalf of the people of Sri Lanka,” Karunanayake concluded.