Sri Lankan expatriates in Canada hope to invest here in a big way

A high powered Canadian -Sri Lanka Friendship Group consisting of several Canadian Members of Parliament (MP') and business leaders were in the country last week to promote investment and trade in Sri Lanka.

It was learnt that several MOU's were signed between Sri Lankan businessmen and the Canadian expatriates for investment in Sri Lanka. It was also revealed that there is tremendous business potential for cold storage plants to be set up in the North and the East for the fisher folk to preserve their catch and for farmers to store their produce for exports. Meanwhile a 26 acre land in Nilaweli has been purchased by a Canadian businessman for a 70-million dollar investment project,

President and CEO of Inter -City Logistics, Canada, Kula Sellathurai, addressing a media briefing at the Cinnamon Lakeside Hotel in Colombo said the Canada Sri Lankan Business forum had decided that Sri Lankan expatriates living in Canada should invest in Sri Lankan businesses to promote trade between the two countries. "Apart from bringing in money, expatriates also bring knowledge. During the past 30-35 years we learnt a lot in the western world by establishing our businesses and have coached our younger members to do businesses on a better scale."

He said the Members of Parliament accompanying the business delegation consist of different MP's from political parties who were able to assess the business climate in the country. "We met with several politicians, religious leaders and business leaders after visiting various parts of the country,” OCSI Co- ChairmanEO Canada, Stan Muthulingam said. "We are very much optimistic after meeting with the clergy, the President and other politicians and business leaders,” he said.

Member of Parliament (MP) for Doh Valley East Toronto Canada Yasmin Ratansi said it was a multi party delegation that arrived in Sri Lanka for the purpose of building bridges with parliamentarians and exchanging ideas to ensure what “we” can do from parliament to enhance pluralism and engage in a dialogue to build capacity. “We have been travelling across the country. We went to Jaffna, Trincomalee and Kandy and have seen the warmth and hospitality of Sri Lankan people. We were fortunate in meeting the President, different Governors and MP's of different provinces, Civil Society and business leaders."

She said they have observed willingness and an appetite for peace and to live in harmony after 30 years of conflict that does not disappear immediately. "Canada will stand by Sri Lanka to build capacity. Canada had contributed 11.2 million dollars to the Official Languages Department for its work and are working with other agencies to help youth to find jobs in the future, she said.

Canadian Member of Parliament for the House of Commons, Irene Mathyssen said that her constituency has a significant number of Tamil speaking people who contribute a lot to Ontario and to Canada.