Pathfinder Foundation proposes strategy for economic transformation of Sri Lanka with Indo-Japanese collaboration

Pathfinder Foundation Executive Director Dr. Dayaratna Silva, Indian High Commissioner Gopal Bagley, Foreign Affairs Minister Ali Sabri, Pathfinder Foundation Chairman Bernard Goonetilleke,  Japanese Ambassador Mizukoshi Hideaki, at the event

The Official Launch of the Report on “A Medium and Long-term Strategy for Indo-Japanese Collaboration to Support the Economic Transformation of Sri Lanka”, prepared by the Pathfinder Foundation with the assistance of a panel of experts, was held in Colombo. Foreign Affairs Minister Ali Sabri was the event›s Chief Guest, with High Commissioner of India Gopal Bagley, and Ambassador of Japan Mizukoshi Hideaki gracing the occasion.

The event was organised in collaboration with the International Trade Centre (ITC), Geneva and attended by representatives from several government and private sector agencies. Bernard Goonetilleke. Chairman, Pathfinder Foundation; handed over the Report to Foreign Affairs Minister Ali Sabri.

The report has suggested a strategic response to transforming the economy, focusing on four priority sectors in which Indo-Japanese collaboration is sought to put the country on a sustainable growth trajectory for a structural shift. In his welcome remarks, Chairman Bernard Goonetilleke, while thanking all the experts who contributed to the report, highlighted that two countries - India and Japan as very close development partners of Sri Lanka, who have much to contribute to reviving Sri Lanka’s economy. He added, “India’s interest in the welfare of the country and its people was evident in the granting of generous credit and other facilities amounting to almost $ 4 billion in the recent past to overcome the economic crisis. Likewise, Japan has been a country which has generously provided economic support going back many decades.” 

In his address, Foreign Affairs Minister Ali Sabry, highlighted some important points for consideration. He urged all think tanks, such as the Pathfinder Foundation, to look into areas a typical politician would not comprehend and push for necessary changes. He also reiterated that a politician should have the humility to listen and learn from experts on the subject, encouraging think tanks to engage with the public and share populist policies.

In his address, Ambassador Gopal Bagley pointed out that Sri Lanka occupies a unique place in India’s foreign policy mainly due to the neighbourhood-first policy of India. He added that India stands ready to assist Sri Lanka in overcoming the current economic crisis. Ambassador Mizukoshi Hideaki also expressed his sincere hope that this year will be the beginning of an economic revival providing a springboard for future development for Sri Lanka. He also mentioned that Japan had been a long-standing partner in Sri Lanka’s socioeconomic development.

Before the report’s launch, Pathfinder Foundation Executive Director Dr. Dayaratna Silva introduced the 120 pages-long report explaining its main thrust and the rationale for sector selection as the key drivers for structural transformation of the economy. Sector experts made presentations at the technical sessions covering the role of the four sectors in transforming the economy, existing policy framework gaps, and key recommendations for triangular cooperation.

The topic of session one was Low–Carbon Power Generation, which discussed renewable energy, LNG and the utility of grid – connectivity between Sri Lanka and India.  The lead speaker of the session, Eng. Gamini Senanayake provided important perspectives on the subject. The second session covered the Development of Trincomalee as an Energy Hub, presented by T.F. Nimal Perera and Prof. I. M Dharmadasa who joined the event via Zoom and contributed his ideas on the future of green energy and issues relating to the proposed nuclear power generation in Sri Lanka. Technical sessions continued with Rohan Masakorala and Dr. Dimantha De Silva (via Zoom) explaining their recommendation on the Logistics and Connectivity sector, which included ports, railways, airports, and ferry transportation. The final session included valuable insights on Education by Prof. Siri Hettige, followed by recommendations for the Tourism sector by industry experts Dr. Vipula Wanigasekara and Dr. Malraj Kiriella. The technical sessions concluded with Eng. Sena Peiris and Nihal Cooray, speaking on an important topic of “Training and skills development”.

The technical sessions were concluded with active engagement of all participants, who appreciated the timely initiative taken by the Pathfinder Foundation and urged follow-up action to disseminate information.