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by Ananda Kannangara

The Government has placed a major responsibility on the private sector to accelerate economic growth and increase employment opportunities and incomes of all groups, Power and Energy Minister Karu Jayasuriya said yesterday.

He was delivering the key note address at the 4th BIMST-EC Trade and Economic Ministerial meeting held in Colombo.

Trade and Economic Ministers from Bangladesh, India, Myanmar, Sri Lanka and Thailand participated at the meeting. Commerce and Consumer Affairs Minister Ravi Karunanayaka represented Sri Lanka.

The Minister said that the current peace process has brought fruitful results to the country's day today life and the Government led by Prime Minister Ranil Wickremesinghe has emphasised on setting up deadlines and targets in all propsed development projects.

While commending the role played by foreign Ministers at the BIMST -TC economic forum in the past few months, the Minister said that this meeting is providing an opportunity for public and private sector partnership building.

At a time when conditions are changing very fast and the nations around the world are moving rapidly for a knowledge based economy the BIMST -TC members cannot be sustained by intergovernmental contracts alone.

Jayasuriya also mentioned that Prime Minister Ranil Wickremesinghe during his inaugural address at the first BMIST -EC foreign ministers meeting emphasised on increased trade and economic co-operation.

Minister Karunanayake said Sri Lanka has convened this Ministerial meeting during the first quarter of this year, as it pledged and ensured that the meeting will be constructive for the future chartering of BIMST-EC.

This meeting of Trade Ministers will lay a strong and meaningful foundation for the trade and economic co-operation in the region, he said.

Before winding up Minister quoted the following from the inaugural speech made by the Prime Minister last year. "The challenge facing BIMST -EC is to bear the odds and create a free trade area that actually delivers free trade and leads to a stronger economic foundation for our region. We know from our experiences at home and in other trade arrangements what needs to be done."

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