SL, Australia must step up collaboration to boost trade and investment

By Charumini de Silva

Having shared a strong political and diplomatic relationship for the past 71 years, Australia and Sri Lanka must now capitalise on business and investment promotions which will bolster the living standards of their people, a top migrant lawyer said. 

“Australia is an important regional partner for Sri Lanka that can make a great contribution in development, investments, education, training, technology and reconciliation in the future prosperity of the country,” Sri Lanka’s leading Australian Immigration Law Specialist Don Susantha Katugampola told the Daily FT.

Acknowledging Australia as a true friend of Sri Lanka during hours of need, he said the foreign investment contribution to the development of the economy was significant during the height of the civil war. 

“At one point, Australia was the largest foreign investor in Sri Lanka. Australian companies like PNO invested in the Victoria Deck at the Colombo Port, while Ansell invested in rubber manufacturing in the 1990s. The Australian Government and its people have been truly supportive of Sri Lanka through thin and thick,” he added.

Noting that it was unfortunate that in the past 10 years Australian investment input in Sri Lanka had not been significant, he asserted there was a renewed expansion of the trade and investment relationship between the two countries. 

He said 2017 was particularly special for the bilateral relationship of the two countries as each of their heads of the state had traded visits. 

“Prime Minister Ranil Wickremesinghe visited Australia in March, while I had the opportunity to be a part of President Maithripala Sirisena’s delegation to Australia in May in the capacity of supporting Sri Lanka being an expatriate lawyer there. Later, Australian Prime Minister Malcolm Turnbull visited Sri Lanka in November, which saw the signing of several agreements relating to trade and investments,” he said.

With bilateral trade between Australia and Sri Lanka surpassing 1.3 billion Australian dollars in 2016/17, Katugampola believed it reflects the steady growth in commercial engagement between the two countries and added as Sri Lanka’s economy moves forwards, Australian companies take an increased interest in the Sri Lankan market.

Despite Australia being a stable economy, he asserted it was not growing as fast as they wished to and therefore Sri Lanka presented a great opportunity for Australian investors to explore trade and investment opportunities here particularly through China’s Belt and Road Initiative (BRI).

“The Australian Government considers Sri Lanka an important destination for bilateral relationships and is keenly encouraging their companies to invest in Sri Lanka. The competition between India and China for Sri Lanka as a destination is important for Australia because Sri Lanka is strategically located in China’s BRI, where Australia is not included. Having a hub or a base in Sri Lanka therefore is an important strategy for Australia to expand its market presence globally,” he emphasised. 

Highlighting that Sri Lanka has a very good reputation not only among the Government of Australia but also among opposition parties, he said it was opportune to further strengthen bilateral relationships on the economic front.

“What we need to do is promote commercial relationships between Sri Lanka and Australia, which has the blessings of both governments. Australia has no vested political interest coming to Sri Lanka. They will not interfere with the internal politics in Sri Lanka, so the people can be very comfortable in welcoming Australia to Sri Lanka,” stressed Katugampola.

He said that overall Sri Lankan migrants in Australia were eminent and successful. “They blend well in Australian society and are highly recognised among the people there. There are many Sri Lankan doctors, lawyers, engineers, accountants, IT professionals, chefs and so on. The Australian mainstream society is very comfortable with Sri Lankan people.”

Outlining that Sri Lanka needs new investments, he said Australia could provide good technology and concepts in education, healthcare, agriculture, mining, aviation, management and hospitality to take the economy to the next phase of development. 

“If Australian technology and management comes in, there is a lot of capital out in the world interested in coming into Sri Lanka — it can be from China or from the Middle East as these are two places where capital is cheap at the moment. However, they would trust the Australian education and management to come in. So we have a great opportunity to build commercial partnerships between Australian private companies and Sri Lankan private enterprises,” he added.

Tourism and renewable energy were highlighted as two other key sectors which could attract investments to Sri Lanka. He said that the commencement of direct flights by country’s national carrier SriLankan Airlines was a significant move which would contribute to the growth of the tourism industries of Australia and Sri Lanka.

“As an expatriate lawyer that has been living in Australia for the past 27 years, I think it is high time we build these trade and investment relationships to provide better living standards to people of both countries,” he pointed out.

Katugampola left Sri Lanka 27 years ago for Australia where he received his LLB from Monash University in Melbourne, after which he was admitted to the Supreme Court of South Australia as well as that of Victoria and practised law in Adelaide and Melbourne. In 1998 he started practising Immigration and Commercial Law with the law firm Knox and Hargrave Lawyers in Adelaide, the second oldest law firm in Australia and the oldest law firm in South Australia established in 1838.

In order to cater to the ever increasing demand in migration inquiries of Sri Lankan clients and to provide a timely, reliable and effective service to its growing clientele, Fairfields Lawyers set up its very own office in Sri Lanka - Australia Gateway - located at JAIC Hilton Towers, in 2003. 

With expert consultants for regional, state-sponsored and tradespersons migration matters, Australia Gateway offers services to assist people in their skilled and business migration to Australia. 

Katugampola turned Australia Gateway into the most sought-after migration consultancy firm in Colombo. He is currently its director and functions with the intention of assisting Sri Lankans to migrate and settle in Australia.   

-Pic by Sameera Wijesinghe