‘Lanka-Australia trade ties important’
Sri Lanka needs to raise capital and create new business to
facilitate its development. It is important to look for opportunities
and ideas to promote business between the two countries, Australian
Liberal Party Former President John Elliott said.
Speaking at a business forum to highlight opportunities in Australia
organized by the Fairfield Lawyers of Melbourne Australia held last week
in Colombo, he said there is an air of optimism and attraction of new
investment that will benefit Sri Lanka.
Businessmen in Sri Lanka could merge with Australia to share
profitable growth prospects, he said.
Australia can offer many things and it withstood the global recession
and had not been complacent. The country is strong in mining technology,
agriculture, dairy care, food processing and technical skills. The
education system in Australia could help the migrants immensely.
The country has efficient systems in irrigation, water saving and
banking with four world’s top banks in Australia. It is an agricultural
economy moving in to manufacturing, industry and service sectors
gradually. The country could provide services, knowledge and technology
to become the Sri Lankan joint venture partner, he said.
Sri Lanka should market the country better and for this concerted
efforts are needed. The country will be a net borrower and there are
opportunities for foreigners, Supreme Court of Victoria Barrister and
Solicitor Susantha Katugampola said.
It is necessary to project a better product in tourism to reach
targets. Australian property market is a sector that Sri Lanka could be
involved in. With correct agreements and contracts Sri Lanka could tap
this market where there is 20,000 annual shortage of housing, he said.
The Australian economy is $ 1.1 trillion and there is high level of
lobbying to promote Sri Lanka’s image, he said.