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Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.


Sri Lanka to form two new agencies for Development and International Trade

Thursday, December 24, 2015 > 09:36:36

(Colombo Page)

The Sri Lankan government is in the process of forming two separate new agencies for Development and International Trade, which will have both government and private sector personnel's participation, according to the Cabinet Minister in charge of international trade.

Sri Lanka will have its first glance of the country's new investment and export framework as early as next January, Development Strategy and International Trade Minister Malik Samarawickrema said yesterday.

The Minister said both the Board of Investment (BOI) and Export Development Board (EDB) are slated to become implementing arms of a new, higher level policy and strategy body consisting of 'proven performers from both private and public sectors'.

Minister Samarawickrema was addressing a capacity building session called "Unleashing Human Potential for Boosting Organizational Performance" (guided by Dr. Asoka Jinadasa) for senior staff of both BOI and EDB under him on Tuesday in Colombo, the Government Information Department said in a report.

"We are starting on a new journey. The government is going to accelerate economic projects and the main driving forces are the BOI and EDB. We are in the process of forming a new Agency for Development and an Agency for International Trade, which will have both government and private sector personnel's participation. These personnel are packed based on their proven track record," the Minister said.

However implementing their projects and proposals will be done through the BOI and the EDB, the Minister explained.

"We are looking at improving Doing Business Index as well so that when investors come, they can be looked after well and their needs addressed in a very short time," he added.Without discussing the details, Minister Samarawickrema said the new programs will be ready sometime in January 2016.

He said many important development programs are in progress and the success of these programs depend on the quality of senior officials in charge of them.

"The success of these programs ultimately depend on you all. Politicians who are given these organizations come up with the main concept but they depend on you for successful implementation. Their success depends on how you perform and your performance depends on your capacities. Programs such as today's one ensure that you have the right mind-set. Successful countries such as Singapore and Malaysia set about their success in the same way. We are very happy to have experienced staff both in BOI and EDB in this new journey," the Minister said.

Prime Minister Ranil Wickremesinghe in his November 5 economic policy speech in Parliament announced new economic reforms as well as changes to EDB and BOI.

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