'Marketeers must lead the economy'

At the Chartered Institute of Marketing Annual Conference at Cinnamon Grand, top economists and policy makers of the country urged the marketing fraternity to drive the economy with new communication techniques and export marketing strategies to make Sri Lanka a 20 billion dollar revenue earner whilst it was reassuared that Sri Lanka will not be another Greece in South Asia even with the fiscal deficit being high.

Some of the key issues discussed was strengthening the knowledge economy so that Sri Lanka can be ready for the new competitors that will enter due to the CEPA agreement that is bound to happen between Sri Lanka and India.

Another key aspect highlighted was that the CEPA agreement must be made transparent to the business community so that marketing organizations and the fraternity can be ready to be stronger with innovative products and stronger marketing strategies.

It was also reassuared that given that Sri Lanka's external debt is only in the thirties there is no major vulnerability issues but the expenditure must be curtailed by the Government but it cannot be done overnight by privatization. It will have to be done gradually so that social ramifications can be reduced.

The country gearing itself to exports so that a 20 billion dollar revenue can be garnered was another area discussed in detail while the marketeers' opportunities that will come due to the increasing tourism numbers and events such as IIFA was highlighted.