Sri Lankan Minister points to great potential of ICT to contribute to social and economic progress in South Asia
Sri Lanka’s Minister of Industry and Commerce Rishad Bathiudeen notes that despite low trade within South Asian region, there is great potential for using ICT to contribute to social and economic progress across South Asian countries.
The Minister has made this observation at the opening session of “SAARC CCI’s Regional Workshop on E-Commerce” by Islamabad based SAARC Chamber of Commerce and Industry (SAARC CCI) held in Colombo recently.
“South Asia is emerging as the one of fast-growing regions in the world and is expected to play a dynamic role in shaping the ‘Asian Century’. However the share of trade taking place between South Asian countries is only 5 percent in comparison to South Asia’s overall trade with the world at 20 percent,” the Minister has said.
Bathiudeen has added: “Despite low trade within the region, there are great potentials for using information and communication technologies to contribute to social and economic progress across South Asian countries. By international standards the e-commerce sector is in its early stage in South Asia. However it is growing at a fast pace and provides a profitable and untapped market for businesses and investors within and across South Asia. The need of the hour is for countries in the region to embrace e-commerce fully as it will enhance their economic and social development. Inadequate infrastructure acts as a major obstacle for e-commerce in this region. The governments need to invest in legal financial logistical and telecommunication infrastructure which is the backbone of any e-commerce initiative.”
According to him, the e-commerce and related sectors in the South Asian countries offer huge business and investment opportunities.
“I and my Ministry officials shall extend our fullest support to SAARC CCI when its officials want to link with Sri Lankan government officials in taking this initiative forward. Sri Lanka is also fast catching up on the global e-commerce trend,” Bathiudeen has stated.
OSL take:
The government of Sri Lanka is in the process of promoting and developing the country’s ICT sector. The country’s Digital Infrastructure Ministry has commenced several programmes for the purpose and has even reached out to foreign investors as well. Sri Lanka is also targeting US$ 5 billion from ICT exports by 2020. Therefore, Sri Lanka’s ICT sector is a hotbed for foreign investment opportunities.
| Article Code : | VBS/AT/20181019/Z_4 |