Should focus on regional markets :

NCCSL wants FTA with Bangladesh

Sanjeevi Jayasuriya

Lal de Alwis

The National Chamber of Commerce of Sri Lanka (NCCSL) is lobbying for a Free Trade Agreement (FTA) with Bangladesh. “We are working towards establishing the agreement through the recently formed Sri Lanka Bangladesh Business Council. The emphasis is paid on capturing potential markets in the sub continent,” National Chamber of Commerce of Sri Lanka President Lal de Alwis told Daily News Business.

“The country should focus on regional markets and Bangladesh has a ready made market for Sri Lanka. The country could cater to untapped sectors,” he said.

The business community feels that they could expect a major development in every sphere and accelerated GDP growth too could be achieved.

“The regular foreign delegations are a testimony for the boost in investor confidence and the country is looking at more Asian markets such as Japan, India and Singapore,” de Alwis said.

“There are plenty of opportunities for people to do business and generate revenue which in-turn benefits the Government. The down stream operations and the forecast for 2011 seem very positive.”

“We need to embark on a major export drive. It is important to devaluate the rupee and to have structural balance for exports and imports. Sri Lanka can be promoted as a good location for manufacturing. We need to focus on thrust industries and diversification is necessary. The North and the East will be a dynamic economic hub in the country in time to come,” he said.

The business prospects in Sri Lanka have improved tremendously and the peaceful environment has provided impetus for continuous economic growth.

The country should focus more on bilateral trade agreements to enhance its export volumes and value. The level of investor confidence is increasing.

“The current conducive business climate has paved way for optimism in business. The confidence level seems to be very high and people are free to make investments which will ensure socio-development of the country,” de Alwis said.