Lanka to reap economic benefits from SAARC

HIRAN H.SENEWIRATNE

The SAARC Summit would be an excellent opportunity for Sri Lanka to showcase it as one of the safest tourist destinations in the world, President of the Federation of Chamber of Commerce and industries, Nawaz Rajabdeen told Daily News Business.

“When the Western world imposes travel advisories and other restrictions for Sri Lanka, it is an opportunity for us to showcase our country before the world with the participation of the Seven Heads of State in the region,” Rajabdeen said.

He said the business community should endorse this event as it will enhance local tourism and will also enable to build confidence in the local business community to promote Sri Lanka as a safe and preferred destination for trade and tourism in the region.

“This is an important event for Sri Lanka as President Mahinda Rajapakasa is going to be the SAARC President for the coming year and it will be a great honour for Sri Lanka in every aspect. Therefore, we have to eschew petty political ideologies for the sake of the country,’ he added.

He said SAARC region comprises one third of the world’s population and is a force to be reckoned with in the international arena because most countries in the region especially India are emerging economies.

Rajabdeen also said the Seven Heads of State, Foreign Ministers and other dignitaries including more than 150 media personnel will be participating for the Summit in Colombo.

“Therefore, spending on infrastructure development specially to facelift the City of Colombo will enhance country’s image and is not a waste of public money,” he said.

Rajabdeen who is the Vice President of the SAARC Chamber of Commerce will also be heading the SAARC Tourism conference. He said the Free Trade Agreements with India and Pakistan has enabled to increase our exports in many folds during the last few years.

“This event will be an opportunity to enhance SAARC Trade Fair which will be held from August 29 to September 3. Trade Ministers from all seven countries will attend this event. This will also help to promote Sri Lankan products in the entire region,” he said.

“India being Sri Lanka’s largest trading partner will have discussions on the Comprehensive Economic Partnership Agreement (CEPA) during the summit.

The signing of the CEPA agreement will help improve the local service sector in the long term perspective,” he said.