SAARC CCI looking at investing in Lanka
“Enlarging the opportunities for trade and investment among the SAARC
countries can be an effective instrument to stimulate economic growth in
the region. However, the level of intra regional trade and investment
continue to be very low in the SAARC region. We are far behind the other
regional economic blocks in trade and investment," said Basil Rajapaksa,
Senior Adviser to the President and Minister of Economic Development,
participating in a discussion with a delegation from SAARC chambers at
the Ministry of Economic Development.
|
Vikramajith Singh Sahney, President of SAARC, CCI exchanging a
plaque with Basil Rajapaksa
Minister of Economic Development, Pix by Chaminda Hittatiya |
The minister met a SAARC chamber of commerce and industry (SAARC CCI)
delegation to discus the present status of the trade and investment in
the SAARC countries and future prospectus.
SAARC CCI is an apex body of eight Chambers in the region established
in 1992 with the recognition of SAARC member countries. The Headquarters
of SAARC CCI is in Islamabad in Pakistan.
There exists enormous scope for expansion of intra - regional trade
and investment in the region.
“There is an number of factors which seems to be acting in constraint
for expansion of trade such as high level of trade barriers, competition
of export of similar products and lack of information,” he said.
“If we find a common ground to work toward a common economic goal
overcoming these smaller problems the results would be great and the
member countries will benefits from such an effort. Now our region has
emerged as one of the faster growing region on earth. If our countries
could emerge to forge a workable economically integrated area, our
region could evolve into one of the largest economic block with huge
market base,” he further said.
The delegation discussed with the minister about the possibility of
investing in Sri Lanka in areas such as port and shipping, low cost
housing, oil and gas, automobile, agriculture, poultry etc. Investments
on privete - public partnership programmes and BOT system can be
introduced for regional economic cooperation, they said.
The delegation comprised Vikramajith Singh Sahney, President of SAARC,
CCI, Annisul Hug, immediate past president , Bangladesh, Tariq Sayeed,
former president of SAARC CCI, Pakistan, Mackey Hashim, former president
of SAARC CCI, Sri Lanka, Ahamed Mujuthaba, Senior Vice President , SAARC
CCI in Maldives, Jashim Uddin, Vice president of SAARC CCI in
Bangladesh, Mahendra Parmir, Vice President of SAARC CCI in India,
Praddep Kumar Shrestha, Vice president of SAARC CCI in Nepal, Iftikhar
Ali Malika, Vice President of SAARC CCI in Pakisthan, Kosala
Wikramanayake, Vice President of SARRC CCI in Sri Lanka and Kumar
Mallimarachchi, President of FCCISl. |
