Trade agreements are crucial for economic growth
Looking at Sri Lanka, from a Singaporean perspective, the proposed ECTA (trade and services pact) with India and the FTA with China are opportunities that should not be missed along with the proposed FTA with Singapore.
Japan too should not be forgotten, said Ambassador at – large of the Ministry of Foreign Affairs Singapore Bilahara Kausikan in his keynote address at the CFA Sri Lanka Capital Market Awards 2016 under the topic “Evolving GeoPolitics on the Indian Ocean,” held at the Cinnamon Grand hotel in Colombo recently.
He said small countries that wish to preserve its autonomy must not allow themselves to be limited by geographical considerations as a South Asian or a North Asian country. The rigidly defined land boundaries that divide Asia were imposed by colonial authorities in the 18th and 19th century and was to facilitate trade and shipping practices from the Persian Gulf to China. Both China and India since 1980 – 1990 have been trying to plug into the interna- tional economic system. China imports most of its oil than any other country through the Indian Ocean where the US 7th fleet protects such sea lanes. The US will remain as a major power in the Indian Ocean for a foreseeable future, he added,
Managing Director Asia Pacific CFA Institute Nick Pollard said the CFA Sri Lanka has been working tirelessly to support the investment industry for 15 years. He said the awards not only recognize technical excellence but are also for integrity, transparency, governance practices, etc. “The maturity of Sri Lankan capital markets is at its early stages and establishing a strong culture of ethical conduct is essential. The diversity, size and professionalism of institutional investors will be key in determining how fast and large the capital market in Sri Lanka can grow.”
CFA Sri Lanka President Sanjay Kulatunga said, “The annual event is aimed at bringing the financial sector community together to recognize and celebrate the high standards of achievement made by participants in our communi- ty. More importantly, it is to encourage ourselves to keep attaining yet higher standards of intellectual rigour and professional integrity.”
He said, “In that spirit, we added another category of awards this year in the form of Best Unit Trust Fund. The new award recognizes unit trust managers who are committed towards putting investor’s interest first by following the industry best practices in investment management.” He said the awards are aimed at recognizing those professionals who have established industry benchmarks. The CFA Capital Market Awards has been held for four years since 2013.
CFA awards were given to the following: JB Vantage Money Market Fund named Best Unit Trust Fund Bartleet Religaire Securities’ Vajirapani Bandaranayake (for presenting the Best Equity Research Report) NDB Bank - Accolade for Best Investor Relations Best Stockbroking Research Team - NDB Securities.