Lanka called for new role in Maldivian global rankings
Saturday, 25 January 2014 00:10
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In an unprecedented development, Sri Lanka’s institutional biz knowhow is being sought after at international levels.
“Your strong Ease of Doing Business Index ranking has set an example for other SAARC countries. I think we can learn from you about this process. We would like to visit Sri Lanka or seek your technical expertise in this,” said Mohamed Saeed, Minister of Economic Development of Maldives, on 17 January in New Delhi.
Saeed was addressing Minister of Industry and Commerce Rishad Bathiudeen at Taj Hotel, Mansing Road, New Delhi, during a meeting they held on the sidelines of the fifth SAARC Business Conclave in New Delhi.
Bathiudeen led the Lankan delegation to the SAARC Business Conclave.
Commerce Ministers from all SAARC countries were in attendance at this session.
Also present at the session were Lanka’s High Commission in Delhi Minister Counsellor Manorie Mallikaratchy, Sri Lanka’s Consul General in Mumbai Upekkha Samaratunga and officials and businessmen from Maldives. Among the Maldivian delegation members were State Trading Organisation Plc of Maldives Managing Director Adam Azim.
“My intention is to take our bilateral trade to the next level. Sri Lanka has been a key supplier to Maldives; in fact, daily, continuously we import from Sri Lanka. We have to work together in building partnerships in our economic activities,” said Saeed. “It’s our desire too to progress in the Ease of Doing Business Index and Sri Lanka can help us in this.”
“Our historic bilateral cooperation goes beyond trade and has many aspects. Thanks to the committed vision of President Mahinda Rajapaksa, we are now expecting economic growth above 7%” said Bathiudeen.
“Our Ease of Doing Business Index rank is a strong 84 and the BoI’s speedier registration processes, our bilateral investment protection treaties with more than 20 countries and general business and investor friendly environment, among others, have helped us to climb in these global rankings. We welcome Maldivian teams to Sri Lanka to enlighten them on our processes, and I and my Government are ready to extend our fullest support.”
Both Ministers also discussed further enhancing trade potential in future from current levels of $ 68 m.
According to the Department of Commerce of Sri Lanka, Maldives is the third largest trading partner of Sri Lanka among the SAARC countries, after India and Pakistan. The value of total trade between the two countries stood at US$ 68.53 m in 2012 (Indo-Lanka bilateral trade stood at $ 3.2 billion from January to October 2013). Sri Lanka’s exports to Maldives, which stood at $ 45.18 m in 2002, rose to $52.41 m in 2012, while imports from Maldives declined to $ 16.12 m (Y’12) from a peak of $ 31.21 m in 2002.
Sri Lanka’s major exports to Maldives in 2012 were insulated wires, vegetables, iron or steel and its articles, miscellaneous food preparations, articles for the conveyance or packing of goods, plastics and tea.
The first session of the Sri Lanka-Maldives Joint Commission was held in Male in April 2006 and following a recommendation made at this session, the Sri Lanka-Maldives Bilateral Business Council was formed under the aegis of Ceylon Chamber of Commerce in May 2007.
