PM says Sri Lanka can become a commercial hub

Friday, 30 March 2012 00:01 - - {{hitsCtrl.values.hits}}

Impressed by Sri Lanka Expo 2012, the calibre of participating companies and high profile of foreign visitors, Prime Minister D.M. Jayaratne yesterday declared that Sri Lanka could become a commercial hub in Asia.

Prime Minister D.M. Jayaratne tours the Expo 2012 on day two. Senior Minister A.H.M. Fowzie and EDB Chairman Janaka Ratnayake are also present – Pic by Daminda Harsha Perera

“We are holding this event after a lapse of 15 years. The Government is focused on self-sufficiency and now Sri Lanka is self-sufficient in rice. Due to their quality, aroma and colour, Sri Lanka’s agro products fetch premium prices in the international market. Sri Lanka also has the largest CIMA qualified personnel in the world after UK. This will help us to become a commercial hub,” Premier Jayaratne said, after opening the Sri Lanka Expo 2012 on the second day yesterday.

Industry and Commerce Minister Rishad Bathiudeen said the Government was keen to push the Sri Lanka Expo exhibition series to a higher level.

“I am pleased to announce that I am considering promoting the Sri Lanka Expo event in future as a must-see export event in the Asian region, similar to the renowned Anuga Foodtech fair taking place in Germany as I speak to you now,” Bathiudeen said.

“No serious food processing industry in the world ignores the Anuga fair. Similarly, we should strive to make Sri Lanka Expo be known as a trend-setting must-see trade and investment event in Asia in future, which no serious international importer or investor would want to miss. We can achieve this only by committing strongly and I have no doubts that such a well-known event will lend precious assistance in our efforts to make Sri Lanka the ‘Economic Hub’ of Asia as per the national development policy framework of President Mahinda Rajapaksa,” Minister Bathiudeen said.

He added: “Despite the World Trade Organisation forecasting only 5.8 per cent world export growth for 2011, Sri Lanka’s export sector showed strong resilience, by registering a highly commendable growth rate of 22.37 per cent, in comparison to 2010. I say ‘highly commendable’ since this growth rate has been achieved also, despite a looming global economic downturn. The year 2011 saw export earnings reaching US$ 10.4 billion, thereby surpassing the previously envisioned export target of US$ 9.1 billion for the same year.

“I am very happy to state that the export sector of Sri Lanka makes up 17 per cent of Sri Lanka’s GDP. We have now set an ambitious target of US$ 20 billion export revenue by 2020, lending sustainable support to doubling of our per capita income, as envisioned under the ‘Mahinda Chinthana’ policy framework. I should also stress that the positive performance achieved by the export sector in 2011 was led by industrial and agricultural sectors.”

Minister of External Affairs Prof. G. L. Peiris addressing the event said that the Government was keen to promote self-sufficiency. “The Government is using all its resources to make the country self-sufficient,” he said.