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| Friday, 10 September 2004 |
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Japanese businessmen to invest more aggressively in Lanka From Shirajiv Sirimane in Japan Tokyo, Thursday - The President of the Japan Business Cooperation Council (JSLBCC) Minoru Morofushi said that Japanese investors are keen to invest in Sri Lanka more aggressively. Speaking at a luncheon hosted in honour of Minister of Foreign Affairs Lakshman Kadirgamar he said that the Japanese are keen on getting themselves involved in infrastructure development projects, fisheries, ship-building, It and technical cooperation. He said that the Council members had been having a long-term relationship with Sri Lankan businessmen and this visit would help to strengthen their economic ties even further. He requested more State help towards their future investments. The Minister said that foreign investors do not have to worry about investing in Sri Lanka as it is an investment friendly country. "Though there may be frequent government changes, the economic policy of the country is stable and does not change whichever government is in power," he said. Japan has played a major role in the economic development and the reconstruction work in the North-East, he said. He also said that a major cultural exhibition would be held next year in Japan to showcase Sri Lanka's products. "This exhibition would also focus on the history, culture and archaeological sites in a bid to give the Japanese public a glimpse of Sri Lanka's history and Buddhism. This would help to bring in more tourists to Sri Lanka," he said. He appealed to the business community to get actively involved in this event. The Minister also explained the political climate and the peace process in Sri Lanka. Trade between the two countries has shown a sharp 17 percent increase over the last year which shows the faith Japanese entrepreneurs have in the country. According to the Sri Lankan Ambassador in Japan, Karunatilleke Amunugama, Sri Lanka's exports to Japan have increased from 164 million US dollars in 2002 to US dollars 191 million last year. "This healthy trend is continuing," he said. The main commodities from Sri Lanka include rubber by products, gems, jewellery and tea. The demand for garment products from Sri Lanka has declined mainly because of the low cost of items shipped from China which has a low freight as well. |
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