Tuesday Nov 26, 2024
Tuesday Nov 26, 2024
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Ambassador to the Netherlands Buddhi Athauda, in order to explore the commercial landscape of Sri Lanka.
Traditional diplomacy, with once vested in interests pertaining to foreign policy, is now shifting towards bilateral trade that impact international commerce. Several macro environmental factors have contributed to the possibility of Sri Lanka being ripe for commercial diplomacy. In the post war era of accelerated economic growth, the Sri Lankan commercial landscape is making great endeavours to be receptive to foreign direct investment by fostering an environment that is attractive to international enterprises.
President Mahinda Rajapaksa’s resilient efforts to provide the country with a stable political environment are no doubt serving as a catalyst for economic growth. In addition, such efforts have now begun to reap dividend by way of opportunities towards wealth creation, which is engaging the admiration of local, regional and international stakeholders in equal measure.
Stable political leadership that champions economic growth is now inspiring the generation of modern ambassadors to follow suit in their approach to diplomacy. Further facilitation is being carried out by the BOI and the Central Bank by provision of convenience to the potential investor to formalise trade opportunities by way of legal and regulatory clearances and requisite tax exemptions.
The recent visit of the Dutch delegation has sparked interest among diplomatic circuits and is a case in point of the possibility of a blissful union between commerce and diplomacy. Diplomats holding positions with access to economic engines are now leveraging their influence to boost FDI through economic promotional efforts.
Trade diplomacy
I had the good fortune of a brief tête-à-tête with Ambassador Athauda who shed light on efforts relating to trade diplomacy, of which he is a keen proponent. His advocacy is rooted in his professional exposure, while being a beneficiary of the free market economy. During his tenure in the private sector, having been a keen member of the team that developed Iridium satellite phone by placing 66 satellites in orbit at the time, which provided worldwide wireless coverage, it gave him the essential expertise of launching, marketing and managing a truly global brand in the realm of high technology.
Parallels can be drawn of his current efforts to market and manage the brand “Sri Lanka” on the global commercial landscape.
Having obtained formal education in the field of engineering and graduating in finance in the United States of America, it was an opportune time for him to engage in the study of the high tech boom. In his functions as ambassador, it appears that he draws from the experience gathered as a key player that led the team of Iridium; Global Mobile Personal Communication System (GMPCS) and is applying the detailed understanding of brand positioning strategy across the globe.
It is these very same efforts that produced the quantum leap in the global outsourcing industry. The Ambassador recalls that much persuasion, strategy and deregulation was needed, which would later for him become optimum practice within the industry. In fact, it was by this GMPC Systems project that the concept of a call centre, then unfamiliar to India, became an efficiently driven operation.
As using principles of the free market economy towards the promotion of a global brand soon became second nature to him. Subsequent to the appointment as the Ambassador to the Netherlands, he also became the founding President of the Diplomatic Council (DC) which follows the principles of the charter of the United Nations Organization. DC, an international forum for diplomats and personnel from arenas of politics, entrepreneurship and business to consider possible trade relations, now consists of an excess of 4,500 members worldwide.
Since its inception, the DC has carried out numerous initiatives towards the facilitation of international relations on a commercial platform. It is its governing philosophy that trade improvement leads to a general enhancement of the standard of living in countries, a noble aim perceived as the key to lasting peace.
Business-Channel on Tour is a business related program broadcasted on one of the major Dutch commercial television stations to reach a wide audience. Its focus is touring countries and cities that are commercially attractive and offers valuable information by way of introducing and establishing the country, providing a platform on which entrepreneurs meet, sharing of in-depth and connecting Holland with foreign countries and cities.
Investors in town
Early September brought key investors to whom the commercial attractiveness of the country was showcased by a large group of entrepreneurs and key members of the business community of Sri Lanka. By way of this convention, keen investors are capitalising on opportunities, and are in negotiations such as the purchasing of precious stones from a renowned gem exporter in Sri Lanka, at competitive prices. Additionally a medical equipment manufacturer is now looking to set up a plant here in Sri Lanka, for which formalisation has commenced. The Board of Investment has in its swift responses been supportive of a dairy project scheduled to commence later this year.
Ajith Nivard Cabraal, Governor of the Central Bank of Sri Lanka and a former management consultant, has extended his support towards the initiatives of trade diplomacy by providing investors with relevant knowledge, which is vital for investment analysis. Additionally, a capital market advisor has taken keen interest in the Colombo Stock Exchange. Having observed Sri Lanka as a tea drinking nation, a luxury coffee manufacturer sees potential for further expansion of the limited coffee house concept that is in the city, and further regards Sri Lanka economically appropriate to set up an assembly plant for coffee machines.
The motivational speaker and author of ‘Focused Synergy: Orchestrating Your Purpose, Path and Performance,’ Robert Van Arlen, who accepted Ambassador Athauda’s invitation to extend his stay was greeted by the Sri Lankan corporates including John Keells Holdings PLC, Brandix Lanka Ltd., and carried out a program which was open to the public at the Institute of Chartered Accountants of Sri Lanka, all of which produced rave reviews on Robert’s charismatic energy and leadership style. Robert too has shown keen interest in returning to the island to deliver customised training programs, and being a resource available to the Sri Lankan corporates as an executive coach and trainer.
Several investors have already shown interest in selecting the destination as the base to serve the region given the inherently beneficial and favourable geographic setting within which the country is placed. The Dutch delegation left with staunch confirmation of Sri Lanka’s potential to be the investment haven it professes to be.
The activities during the brief span of a week are testimony to the stable economic and political environment, and provide assurance that the accelerated post war economic growth is not a mirage but indeed a reality.
