‘Lanka-Australia trade ties important’

Sanjeevi JAYASURIYA

Sri Lanka needs to raise capital and create new business to facilitate its development. It is important to look for opportunities and ideas to promote business between the two countries, Australian Liberal Party Former President John Elliott said.

Speaking at a business forum to highlight opportunities in Australia organized by the Fairfield Lawyers of Melbourne Australia held last week in Colombo, he said there is an air of optimism and attraction of new investment that will benefit Sri Lanka.

Businessmen in Sri Lanka could merge with Australia to share profitable growth prospects, he said.

Australia can offer many things and it withstood the global recession and had not been complacent. The country is strong in mining technology, agriculture, dairy care, food processing and technical skills. The education system in Australia could help the migrants immensely.

The country has efficient systems in irrigation, water saving and banking with four world’s top banks in Australia. It is an agricultural economy moving in to manufacturing, industry and service sectors gradually. The country could provide services, knowledge and technology to become the Sri Lankan joint venture partner, he said.

Sri Lanka should market the country better and for this concerted efforts are needed. The country will be a net borrower and there are opportunities for foreigners, Supreme Court of Victoria Barrister and Solicitor Susantha Katugampola said.

It is necessary to project a better product in tourism to reach targets. Australian property market is a sector that Sri Lanka could be involved in. With correct agreements and contracts Sri Lanka could tap this market where there is 20,000 annual shortage of housing, he said.

The Australian economy is $ 1.1 trillion and there is high level of lobbying to promote Sri Lanka’s image, he said.