Sri Lankan government together with USAID holds Public-Private Dialogue on Global Trade
Sri Lanka’s Ministry of Development Strategies and International Trade (MoDSIT) together with the USAID-SAIL project has reportedly hosted a Public-Private Dialogue (PPD) on Global Trade on June 12 in Colombo.
The event, titled, “Integrating into Global Trade – How can Sri Lanka maximize benefits and minimize risks?”, was the first in a series of district-level PPDs being held to increase the general awareness and understanding of trade, and obtain the views of wider and more representative groups of stakeholders across the country.
The event was a huge success and generated vibrant debates and discussions among over 80 participants from Ministries, government agencies, the business community, trade chambers, the private sector and other key stakeholders, local media reports state.
Chief Guest at the occasion was Malik Samarawickrema, Minister of Development Strategies and International Trade (MODSIT), Guest of Honour, Brian Wittnebel, Director – Economic Growth Office – USAID, S.T. Kodikara, Secretary – MODSIT and Glenn Mackenzie-Frazer, Chief of Party, USAID-SAIL Project.
Delivering the keynote address, Samarawickrema has stated, “International trade is a priority area of our Government and, as you know, our Ministry has been a catalyst for many trade reforms over the past few years.”
According to reports, one of SAIL’s focus areas is to support Sri Lanka’s processes of trade integration and facilitation, including support to the free trade agreement process and trade plays a key role in increasing Sri Lanka’s growth, and an export-oriented strategy is important in achieving this goal.
“The U.S.-Sri Lanka development and humanitarian assistance dates back to 1956. Since then the U.S. Government’s development agency, the United States Agency for International Development, or USAID, has invested more than Rs. 320 billion Sri Lankan (USD 2 billion) in grant aid not loans,” Guest of Honour, Brian Wittnebel, USAID Director of Economic Growth Office has been quoted as saying.
“This assistance has benefited Sri Lankans across the country and in diverse fields like agriculture, environment and natural resources, infrastructure, business development, health, education, governance and humanitarian assistance.”
“Initiatives such as this public private dialogue are vital in creating awareness on how trade, tariff policies, and other trade instruments can be combined with market access opportunities already available to Sri Lanka. Such initiatives also demonstrate the Government of Sri Lanka’s commitment to transparency and to the broader aim of seeking feedback from the private sector,” Wittnebel has added.
OSL take:
The government of Sri Lanka has been promoting public private partnerships, especially in line with its development programme. Sri Lanka’s economic policies along with the many trade agreements as well as trade concessions makes Sri Lanka an ideal business destination in the South Asian region. Therefore, foreign businesses/investors could explore possibilities of forming partnerships with local companies and forming joint ventures and also exploit Sri Lanka’s trade links.
| Article Code : | VBS/AT/20062019/Z_8 |