Archives

By Ravi Ladduwahetty

Sri Lanka will make a positive contribution towards the formulation of strategies to reduce poverty and economic growth in the developing nations of the Commonwealth at the Commonwealth Finance Ministers' Conference scheduled to be held in London from September 24 to 26.

The Commonwealth Finance Ministers' Parley, which will be held at the Commonwealth Secretariat in London will be opened by Queen Elizabeth II, who will also deliver the keynote address.

Finance Minister K. N. Choksy will lead the three-member Sri Lankan delegation to the parley which will comprise Treasury Secretary Charitha Ratwatte and Deputy Secretary to the Treasury Faiz Mohideen. The theme of the conference will be 'Economic Growth and Poverty Reduction'. Finance Ministers of the Commonwealth and their respective teams are expected to present proposals for greater interaction towards addressing growth and poverty reduction and Sri Lanka will make a positive contribution towards these two issues, Finance Minister K. N. Choksy told the Daily News yesterday.

The modalities are being worked out now, he said.

Finance Ministers of Commonwealth member nations are expected to agree upon a basic framework of poverty reduction within the Commonwealth and propose measures towards this end both by financial and technical assistance, the Minister said.

Emphasis will also be laid on greater interaction between member nations within regional demarcations particularly directed towards special tariff arrangements for sharing of natural and industrial products of countries of various demarcated regions of the Commonwealth, he said.

Principles and policies adopted in these directions by the Finance Ministers will be given effect and implemented in practice prior to the next conference in 2003.

Minister Choksy will also have one-on-one negotiations with Chancellor of the Exchequer Gordon Brown, Indian Finance Minister Jaswant Singh, Australian Finance Minister, Senator Nicholas Minchin, Pakistan Finance Minister Shankat Aziz and Canadian Finance Minister John Mansley. Any tangible economic benefit arising for Sri Lanka in terms of investments and joint ventures will be consequent to these meetings, Minister Choksy said.

News | Business | Features | Editorial | Security
Politics | World | Letters | Sports | Obituaries |

Produced by Lake House
Copyright 2001 The Associated Newspapers of Ceylon Ltd.
Comments and suggestions to :Web Manager