Sri Lanka unveils first high level JTF with India

•  Four private sector bigwigs, eight state officials
•   Ahead of Indian Com-Secy’s visit this month

Sri Lanka unveiled its much-awaited team in the high level India-Sri Lanka Joint Task Force (ISJTF) yesterday.

The pioneering team packs not only top officials of some key ministries but also includes four well-known private sector heavyweights.

“I wish the Sri Lankan assemblage of ISJTF all success in their efforts. The ISJTF will be a major step not only in historic Indo-Lanka bilateral trade, but even in opening the huge Indian markets for our keen exporters,” announced Minister of Industry and Commerce Rishad Bathiudeen.

Industry and Commerce Minister Rishad Bathiudeen chairs the meeting with private sector representatives and officials yesterday

Bathiudeen said this in the aftermath of the first sessional meeting of Lankan ISJTF members held at the Ministry of Industry and Commerce yesterday.

ISJTF, which represents top authorities of private and public sectors of both countries, was green lighted by the Cabinet in October 2011 based on the proposal of Industry and Commerce Minister Bathiudeen. ISJTF aims at promoting bilateral trade and investment between both countries with initial sectors of focus being pharma, textiles and automotive components.

The Sri Lankan component of ISJTF consists of eight Government officials and four leading private sector reps.

Ministry of Industry and Commerce Secretary Anura Siriwardene will be the Chairman of the Committee, joined by Dr. Y.D. Nihal Jayathilaka (Secretary, Ministry of Health), P.D. Fernando (Director General of Commerce), S. R. Attygalle (Deputy Secretary to the Treasury), Jagath Wijeweera (Director General of Customs – represented yesterday by Tharaka Seneviratne, Director of Customs) V. Krishnamoorthy (Director General/South Asia and SAARC, Ministry of External Affairs), Saroja Sirisena (Director General of External Affairs, Ministry of Economic Development), Wijaya Kulathilleke (Director/Investment, BOI) and from the private sector, Kulatunga Rajapaksa (Managing Director, D. Samson Industries and Co-Chair, Indo Sri Lanka CEO Forum), Susantha Rathnayaka (Chairman, John Keells Group and Chairman of Ceylon Chamber of Commerce), Ashroff Omar (CEO – Brandix Lanka and Chairman, JAAF), and Ramya Weerakoon (Chairman/Managing Director of Ramya Holdings and President, National Chamber of Exporters).

 “It is important that we should start focusing on strengthening bilateral trade in non-ISFTA segments and product lines as well in achieving our national export targets under the vision of President Mahinda Rajapaksa. I believe that the visit of Indian Commerce Secretary this month (on 14 January) will help us to move in this direction,” Minister Bathiudeen added.

According to the Department of Commerce, in 2011 the total trade between Sri Lanka and India ISFTA was nearly $ 1 billion. India’s exports to Sri Lanka in 2011 registered an annual growth of over 70% (from $ 2.5 m to $ 4,350 m), while Sri Lanka’s exports to India registered an annual growth of 16.8% (from $ 466 m to $ 521 m) resulting in $ 3,828 m balance of trade in favour of India with an annual increase of 84% over 2010.

“We selected you, the Sri Lankan members, after careful study and many discussions,” revealed Siriwardene, addressing the first JTF session. “We are looking forward to focus on further improving our bilateral trade levels while lessening existing trade barriers with India.”