Economy to grow after terrorism is eradicated

The BOI conducted a presentation highlighting the opportunities Sri Lanka offers to investors, to a 40-member delegation from Turkey, headed by the Deputy Speaker of the Turkish parliament, Nevzat Padkil.

Minister of Investment Promotion Navin Dissanayake highlighted the friendly bilateral relations existing between Turkey and Sri Lanka including their economic exchanges.

"Since Sri Lanka had an economic growth of 6.8 percent despite the effects of the war, a return to peace would mean that the Sri Lankan economy was likely to take off once terrorism is eradicated," Dissanayake said.

A strong point in favour of Sri Lanka was a business culture that was based on that of the West. Another was the interest expressed by leading Indian enterprises to invest in Sri Lanka.

The state visit to Turkey by President Mahinda Rajapaksa had strengthened ties between the two countries and the relations between the two countries have been enhanced by this visit.

Nevzat Pakdil said that both Turkey and Sri Lanka must know that they descend from strong cultures. "We have a lot to tell to the other countries of the world we both live in peace harmony and love.

Turkey has friends all over the world and is ready to share that friendship with countries like Sri Lanka as well, Padkil added.

"Sri Lanka and Turkey have the chance to work together. Precious stones can be marketed through trade.

Turkey currently imports US $100 million worth of goods from Sri Lanka, and Sri Lanka imports US $35 million from Turkey," Chairman Turkey Business Association Erdogan Ercan said.

The presentation given by BOI focused on the Sri Lankan liberal economy and the international Free Trade Agreements (FTA) she enjoys with India, Pakistan and the European Union (GSP+).

The members of the delegation were from the Turkish Government, Chambers of Commerce and sectors such as healthcare, education, manufacturing, hospitality, construction, agriculture, food processing, gems and jewellery.