Thursday Nov 14, 2024
Thursday Nov 14, 2024
Friday, 30 November 2018 00:00 - - {{hitsCtrl.values.hits}}
The Free Trade Zone Manufacturers’ Association (FTZMA) yesterday expressed its concern on the current constitutional crisis and called on all party leaders to reach a consensus that puts the country first, warning that the political anti-climax might cost Sri Lanka its GSP+ concession as well as making it unattractive to present and future investors.
“Since the crisis started on 26 October, we have had many concerned inquiries from our customers and other stakeholders, both local and international, regarding the present political situation in the country. Being one of the oldest democracies in the world, this has been debilitating and shameful, especially some of the recent incidents that took place in Parliament. This has had implications for most of the future order books of our members as well as the potential of losing GSP+ for exports to the EU,” the association’s Executive Committee said, issuing a statement on behalf of its members yesterday.
FTZMA further pointed out that the image portrayed, especially in the West, had been extremely negative both in print and digital media.
“Sri Lanka will become uncompetitive and undesirable in the eyes of present and future investors, which ultimately affects all constituents of this beautiful and resourceful nation. We therefore urge all in authority to put an end to this political anti-climax and work with and support the private sector to further develop our country,” the statement added.
FTZMA is one of the largest manufacturing associations representing the Katunayake free trade zone. The zone employs around 45,000 workers and has over 52 organisations which operate over 80 plants within the zone. The membership is made up of mainly large multinational companies with principals from the US, UK, EU and other countries.
“While it is important to preserve the sovereignty of our country, we must also accept the fact that we are operating on a global platform which is highly interconnected and transparent to our end customers and consumers. Upholding the Constitution, law and order, consistent policymaking and political and economic stability is key to growing our businesses and attracting further foreign direct investments (FDIs). We are extremely disturbed and disappointed with the behaviour of all political parties concerned in not reaching a consensus to this political flux. It is important and urgent that all political leaders who are at loggerheads put the country first rather than their personal agendas,” the statement said.
