PM calls for greater South Asian trade and investment cooperation

Saturday, 3 August 2024 01:08 - - {{hitsCtrl.values.hits}}

Prime Minister Dinesh Gunawardena yesterday urged South Asian entrepreneurs to focus on innovative new products and services to enhance regional economic cooperation.

Addressing the first South Asian Trade Fair 2024 at Excel World Colombo Convention Centre, he said the stronger connectivity with neighbouring regional markets such as India, Pakistan, Bangladesh and other South Asian countries would boost trading and investment cooperation.

The Prime Minister pointed out that the largest tea producer and exporter is South Asia and the regional countries should cooperate to obtain maximum benefits in the tea industry. He said there are many such common products where innovative methods could enhance the ability to compete in international markets.

“We have taken steps to ensure climate friendly businesses and technology based businesses. The Trade Fair and Business Forum has a larger purpose that goes beyond any individual business or organisation’s interest. This is a forum to achieve objectives of promoting socio economic cooperation and strengthening trade relations among South Asian countries,” he said.

He added that this forum gives an immense opportunity for trade and businesses in South Asia to showcase their products and services to grow beyond their usual parameters as it creates a platform for expanding their international trade at the export markets in South Asia and beyond.

Referring to Sri Lanka’s recovery, he said some countries and international fiscal institutions had stopped dealing with Sri Lanka in 2022, but they have started to open their doors again. The latest example is Japan, which has agreed last week to resume all the projects in Sri Lanka and also to explore new ventures.

“It is a pleasure for me to welcome all these investors and trading partners from our South Asian neighbours belonging to SAARC – India, Pakistan, Bangladesh, Maldives, Bhutan, Afghanistan and Nepal – as well as some observers such as China,” he said. The Prime Minister thanked Indian Prime Minister Narendra Modi for extending support to Sri Lanka to enhance use of renewable energy through setting up solar and wind power projects.

He congratulated FCCI for its 50th anniversary this year.

SAARC Secretary General Golam Sarwar, SAARC CCI President Jashim Uddin, FCCISL President Keerthi Gunawardane and other members of the Chambers, High Commissioners and Ambassadors of South Asian countries and leading chamber representatives attended the opening of the South Asia Trade Fair.

- Pix by Lasantha Kumara