NCCSL to improve trade and investments

Charumini de Silva

The National Chamber of Commerce of Sri Lanka (NCCSL) is planning to focus on skills development, improving trade and investment in the Asian Region with focus on SME and promoting sustainable development for next year.

Speaking at the 52nd NCCSL Annual General Meeting in Colombo yesterday newly appointed NCCSL President Asoka Hettigoda said it is time that the country starts thinking business again.

“With GDP growth rates higher than inflation, high tourism arrivals and high foreign reserves, we are in an exciting period of economic development,” he said.

“Historically, being part of the silk route clearly indicates Sri Lanka’s role in regional trade and have become even more critical with globalization. The Government’s strategy to make Sri Lanka a logistic hub, will definitely assist trading actives, while giving Sri Lankan companies a competitive edge”, Hettigoda said.

NCCSL will lobby the banking sector to improve long term low cost lending to SMEs and traditional and non-traditional exporters.

SMEs play a key role and hence the development of this sector is vital to the Sri Lankan economy, he said.

A significant section of SMEs in Sri Lanka remain in traditional activities generally with low levels of productivity, poor quality products, serving small and localized markets.

Thus, the Chamber is keen to work with the Government to support more research and development activities to create new products, introduce new technologies that are sustainable and assist these companies to enter international markets and to build internationally recognized Sri Lankan brands.

“With the Government’s new initiative in private public partnerships (PPP) we would also like to request local companies to be given first choice before it is offered to the international bidders as we are keen to participate in our country’s economic growth,” he said.