Ex­pand­ing Trade

Southasia - - Briefing -

The re­cent Asia Pa­cific Trade Fa­cil­i­ta­tion Fo­rum held in Sri Lanka drew more than 190 del­e­gates in­clud­ing Sri Lankan of­fi­cials, busi­ness lead­ers and rep­re­sen­ta­tives from re­gional cham­bers. Hosted by the Cey­lon Cham­ber of Com­merce, the Min­istry of In­dus­try and Com­merce, United Na­tions Eco­nomic and So­cial Com­mis­sion for Asia and the Pa­cific, and the Asian Devel­op­ment Bank, the Fo­rum held mean­ing­ful dis­cus­sions be­tween trade part­ners of the Asia-Pa­cific re­gion, fo­cus­ing on eco­nomic op­por­tu­ni­ties and break­ing trade bar­ri­ers.

This could prove to be a mile­stone in­vest­ment event for Sri Lanka as the coun­try gears up for eco­nomic devel­op­ment. Sri Lankan busi­ness lead­ers pre­sented their pro­pos­als to the ex­port mar­kets in the Asia-Pa­cific re­gion and dis­cussed the coun­try’s in­stru­men­tal role in pro­mot­ing in­ter­re­gional trade ties.

The del­e­gates also dis­cussed the cur­rent eco­nomic sit­u­a­tion of Sri Lanka that has im­proved due to its fi­nan­cial re­cov­ery and job cre­ation that has spurred as a re­sult of its trade ac­tiv­i­ties. Shed­ding light on Sri Lanka’s busi­ness cli­mate, Rishad Bathiyutheen, Sri Lankan Min­is­ter of In­dus­try and Com­merce pointed out that trade fa­cil­i­ta­tion bears eco­nomic ben­e­fits for the coun­try, which also suits its strate­gic ge­o­graph­i­cal lo­ca­tion. The trade del­e­gates con­cluded the Fo­rum on the note that Sri Lanka has the po­ten­tial of be­com­ing the next eco­nomic hub of Asia.

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