EU, Lanka trade development healthy

Anjana Samarasinghe

EU MARKET: Sri Lanka has healthy trade relations with the EU market. The EU/ Sri Lanka Trade Development project will further enhance this relationship Head of EC Delegation - Ambassador Julian Wilson said at the inauguration of second WTO training programme held in Colombo yesterday.

The improvement of the trade relations couldn't be done automatically. There should be proper understanding on technical matters in the international trade for both private and public stakeholders who are in the international trade, Wilson said.

The main objective of this programme is to improve Sri Lankan participation in world trade. 'Local entrepreneurs should consider incentives such as GSP+ schemes and subsidies as a access to the market and try to climb up in the market. Though there is good potential for gems and jewellery there should be strong distribution for this sector. We are focusing on promoting specific sectors where there is good market potential, he said.

Secretary to the Ministry of Trade and Commerce Dr R.M.K Rathnayake said international trade gets complicated day by day and knowledge is important to deal with international trade.

As a small and vulnerable economy in the multilateral trading community, Sri Lanka faces challenges and constraints in effectively and expeditiously advancing our interest in WTO negotiations. Some of these limitations lie in restricted resources and technical expertise.

The informed participation of the private sector is a common phenomenon seen in most developed countries who are effectively engaged in WTO negotiations and are able to get maximum advantages for their agricultural and industrial interest.

In Sri Lanka we see a need to mobilise the private sector to involve themselves in a proactive sense in what is affecting our country from global prospective. Seeking government assistance when what happens in the arena of international trade affects secular concerns of individual enterprises he said.

Director General of Department of Commerce K.J Weerasinghe said Sri Lanka was mainly concerned of basic issues such as agriculture negotiations, non-agricultural markets access and the service sector at the recently concluded WTO meeting in Hong Kong.