|Wednesday, 26 February 2003|
Business in brief
Norwegian private sector ready to set up joint ventures in SP
Deputy Minister of Development and Cooperation Olav Kjorven met the Governor of the Southern Province Kingsley T. Wickramaratne with a 12-member delegation at the Governor's Secretariat in Galle during their tour of the Southern region.
During the discussion the Deputy Minister said that they were prepared to make investments in the area of infrastructure development, tourism and information technology.
He said the Norwegian private sector was prepared to set up joint
ventures in the Southern province with their counterparts in the South.
The Deputy Minister and his delegation met the Chambers of Commerce of
Galle, Matara and Hambantota.
Bourse declines further
Colombo Bourse continued its slide for the second successive day of the week yesterday. The ASPI declined by 11.9 to 754 points and the Milanka by 27.42 to 1,251 points. However, the turnover increased to Rs. 74 million from Rs. 42 million of the previous day. HNB, JKH and Seylan contributed the most for the turnover.
The top five gainers were Horana Plantations, Kuruwita Textiles, Blue Diamonds, Paragon and Union Assurance and the top five losers were Merchant Bank, Gestetner, Overseas Reality, Equity and Vanik Incorp Ltd.
Market analysts said that stock markets in Asia experienced declines
yesterday due to several political factors including the developments in
North Korea's nuclear issue.
Industrial zone for French investors
A separate industrial zone for French investors was mooted when a delegation from the Confederation of Small and Medium Enterprises, France met Commerce and Consumer Affairs Minister Ravi Karunanayake recently at the Ministry.
The delegation led by Head of International Division of the
Confederation, Jonny Sore, was accompanied by the President of the
Franco-Sri Lankan Business Association, Tima Lazarus had emphasised that
most of business promotion works by the Sri Lankan government and
enterprises did not outreach the French business community scattered
throughout the country.
'Indo Lanka FTA - How to further maximise our benefits'
With the trade gap with India widening even further to as much as Rs. 47.5 billion in 2001 from Rs. 41.3 billion in 2000 in favour of India it is realised that Sri Lanka has not made full use of the Indo Lanka Free Trade Agreement (FTA). There is very little time left to reap any benefits as by the year 2005 India would be compelled to open under the WTO. Sri Lanka then would lose its comparative advantage.
The National Chamber of Commerce of Sri Lanka (NCCSL) in association with the Department of Commerce will hold a seminar on "Indo Lanka Free Trade Agreement - How to further maximise our benefits" on February 27 from 9.00 a.m. to 1.00 p.m. at the Ceylon Continental Hotel.
Manel de Silva, acting Director General, Department of Commerce and D. G. A. P. Dharmapriya, Deputy Director of Department of Commerce will speak on the present status of the FTA and how to further maximise benefits. M. P. Wickramsinghe, Managing Director, Ceylon Biscuits Ltd. and Ganesh E. Daiwanayagam, Director, Mayfair Lanka (Pvt) Ltd. will make a brief presentations on "Difficulties faced by Sri Lanka exporters in exporting to India under the Free Trade Agreement".
A panel discussion will follow where it is envisaged to draw up an Action Plan upto 2005 on how to maximise our benefits. The panel will consists of A. Kandappah, Hony. Secretary, NCCSL as a Moderator and Shri V. Ashok, Economic and Commercial Counsellor of the High Commission of India, C. S. W. Jayathilake, Director General, Sri Lanka Customs, C. D. R. A. Jayawardena, Director General, Sri Lanka Standard Institution and Ranjani Thudugala, Director, Exports, Export Development Board.
Ravi Karunanayake, Minister of Commerce and Consumer Affairs will deliver the keynote address.
This is an ideal opportunity for Chief Executive Officers, Directors of Export/Import Companies trading with India, foreign investors who could use Sri Lanka as a base to export to India and others who are looking for new export markets to obtain information about carrying out their businesses effectively.
Participants will also have an opportunity to discuss problems and
include their proposals into the Action Plan which will be submitted to
the Minister for Implementation.
Seminar on National Police Commission
The Ceylon Chamber of Commerce views the appointment of the National Police Commission as a major step in the development of the economy.
In order to create awareness of the impact of the National Police Commission in addressing the Law and Order situation and its impact on business, investment and the law abiding citizen, the Law and Order Sub Committee of the Ceylon Chamber of Commerce will hold a public seminar on the National Police
Commission on March 8 from 9 am to 12.30 pm in the Ground Floor Auditorium of the Chamber.
The seminar will be on the theme "the National Police Commission: a Challenging Task Ahead". The following issues will be addressed: 17th Amendment to the Constitution and the creation of the National Police Commission by Ranjit Abeysuriya PC, Chairman, National Police Commission, Functions, Duties and Responsibilities of the National Police Commission by Dr B S Wijeweera, Member, National Police Commission, The role of the IGP vis-a-vis, The Role of the Police Commission by T E Anandarajah, Inspector General of Police, Enforcement of Penal Laws - Palitha Fernando, Deputy Solicitor General and The role of the Media by Feizal Samath, Business Editor, Sunday Times.
The following members of the National Police Commission and resource personnel will serve on the panel: S N Ebert, Prof. M T A Furkhan, Asoka De Z Gunasekera, Dr Ven. Thambulle Seelakandathera and Dr S J Stephen.
The Law and Order sub committee of the Ceylon Chamber of Commerce feels that the forthcoming seminar will provide an excellent forum to obtain information on the National Police Commission and evaluate its role in creating an environment that will be conducive to business development.
Produced by Lake House