On long, medium term opportunities:

Country has right focus

Sanjeevi Jayasuriya

Michael J Andrew

Sri Lanka has the right focus on the long and medium term opportunities and trends with its political and economic stability. The priorities of the government in going forward in the development agenda have economic direction which is vital for clear stability, KPMG International Global Chairman Michael J Andrew said speaking on “Evolving global landscape, impacts of the financial crisis on emerging markets and growth trends” yesterday.

It is necessary to have in place long term policies and an global interconnected environment to facilitate foreign investment. The world needs well priced currencies to drive trade led growth, he said.

Emphasizing the need for reshaping of the global economy with the focus moving from the West to the East, he said that the East will dominate not only in economic terms, but in social, and political terms as well.

There should be long term plans to link the supply chain management to encourage more trade in emerging high growth markets.

The physical delivery of the banking system needs modification with a new banking model to reprocess capital and risk to suit the strong domestic base.

The anticipated shortages in commodities including food will require smart business models to capture the markets on regional basis. The transition of global economy from the West to the East will benefit many countries including Sri Lanka, he said.

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