Sri Lanka can reach 58% of world with current trade agreements

Friday, 1 December 2017 00:00 - - {{hitsCtrl.values.hits}}

At the Sri Lanka Economic Conclave organised jointly by the Federation of Industry and Commerce of China, Colombo Chamber of Commerce and the Indian Chamber of Commerce, the conference Chair for session ‘Private Investment in Sri Lanka –Challenges and Opportunities’ Dr. Rohantha Athukoralasaid that with the trade agreements with US, EU, India and the impending agreement with China, Sri Lanka will have the power to reach 58% of the world population.

“This together with the brand imagery of Sri Lanka to reach 100 billion dollars from the current $ 78 billion in the years to comewill make Sri Lanka a top of mind destination for private sector investment,” Athukorala, the Group CEO for Coral, said.

Colombo Stock Exchange CEO RajeevaBanadaranayake said that the $19 billion market cap of the Sri Lanka Stock Exchange attracts 1% from foreign investors making it the best performing in the region. The best performing year 2017 attracted Rs. 117 billion only in the first half of the year.

Kapruka Chairman Dulith Herath said that the SME sector that accounts for almost 65% of GDP and 73% the exports was now using e-commerce platforms like Kapruka and Grasshoppers to reach the global market, which talks about the revaluation the country is doing to drive global markets. Senior Managing Director Karl Brenzaand VP Roshan Perera of Maxim Group New York shared the insightthat raising capital from the US stock market would be the best for Sri Lankan organisations that want to reach 58% of the world via trade agreements. The best case in point in Sri Lanka is Virtusa which other companies must emulate.