Inaugural Colombo International Maritime Conference begins

By Madushka Balasuriya

The Colombo International Maritime Conference (CIMC) officially got underway last evening under the theme ‘Maritime Education and Training’. CIMC 2015 is the first of its kind in Sri Lanka and is being held in line with International Maritime Day and UN Observance Day from 24-26 September.

The conference is aimed at highlighting the key role played by the Indian subcontinent in trade and maritime activities the world over, and the readiness of Sri Lanka to service its demand.

Over 400 participants are expected to take part in the coming days, with a total of 40 speakers, 32 of whom are from overseas, speaking on subjects such as cruise shipping, bunker shipping, auto logistics, regulatory reforms in shipping, port development, freight markets, strategy innovation and ideas, ship size development, regional competition and Sri Lanka’s role in the Indian subcontinent.

“We will be deliberating over multiple areas of the maritime economy over the next two days and invite all delegates to make maximum use of the conference. I personally believe that the maritime economy can alleviate poverty levels and create employment and wealth in this country,” stated Organising Committee Chairman Rohan Masakorala in his introductory speech.

“This is not only a significant day for the world but particularly for Sri Lanka, which plays an important role in the maritime map.”

This point proved to be a recurring theme throughout the evening, with several speakers pointing out Sri Lanka’s strategic geographic position in the Indian Ocean. Sri Lanka most significantly neighbours the east-west shipping route thereby cutting transit times for transhipment traffic originating out of the Indian subcontinent.

“The main objective of this conference is to increase Sri Lanka’s potential to expand to great heights in the maritime sector and to utilise the geographic location of Sri Lanka to develop foreign investment further,” explained Minister of Ports and Shipping Arjuna Ranatunga, who was welcoming the delegates on behalf of the Sri Lankan Government.

Ranatunga, who was the driving force behind a Maritime Week being declared by the Government, added that the Ports and Shipping Ministry, with the support of the Cabinet and Government, will take a look at “urgent reforms” needed to boost the business environment in the sector.

However he also called on “international as well as local stakeholders” to put forward proposals that could be used in creating a national policy framework for the shipping industry.

“I’m aware that many shipping policies have been developed in the past but no concrete action was taken to implement the change,” acknowledged Ranatunga, promising that the new Government would “take pragmatic and fast decisions…that would benefit all the people of the country.”

Ranatunga’s sentiments were elaborated on by Karu Jayasuriya, Chief Guest at the inauguration ceremony, who noted that plans for the maritime economy were a part of the Government’s five-fold development strategy for the country. The Parliamentary Speaker added that the improvementsin the shipping industry also had potential knock-on effects for other parts of the economy.

“Sri Lanka now has the greatest opportunity to be a beneficiary of Asia’s economic prosperity. The development of the maritime economy is a key development strategy that the Government will focus on.

“We will transform the maritime economy of Sri Lanka and take the country to a high level as a centre for global maritime excellence. Development of shipping will also help develop Sri Lanka’s trading environment and competitiveness.”

The shipping industry in South Asia is predicted to thrive over the next decade, led by India. The Indian subcontinent has 15 major ports, where increased traffic will lead to a rise in demand for upgrades on infrastructure. And Colombo has the potential to be at the forefront, with the port of Colombo showing one of the world’s fastest container traffic growth in 2014.

Nevertheless, even the best plans can go astray if the region itself does not fulfil its promise of economic growth. For this to be averted, regional interaction is required on a greater scale, according to the Secretary of India’s Shipping Ministry Shri Rajive Kumar.

“When a country has progressed in the maritime field, the public has always benefited. This is a universal phenomenon. Trade enhances welfare and from that perspective most of the trade is through shipping. Therefore, for this region, it is imperative that we all get together and ensure that we put all our energy into achieving higher economic growths; and for that purpose maritime trade could be an important factor.”

                       Pix by Upul Abayasekara