‘Focus should be on areas of mutual interest’ | Daily News


 

To increase Sri Lanka-Australia trade and investments

‘Focus should be on areas of mutual interest’

Australian High  Commissioner  David Holly
Australian High Commissioner David Holly

Finding and focusing on areas of mutual interests can be an important aspect to accelerate and strengthen the diversification of trade and investment ties between Australia and Sri Lanka, said High Commissioner of Australia to Sri Lanka David Holly.

Stressing the need to address issues relating to non tariff barriers and intellectual property rights in order to create more economic benefits for both countries, he said adding that Sri Lanka also needs to invest more in value added and export catalytic industries including agricultural and services sectors.

“In addition, we need to work together to further improve Sri Lanka’s doing business index ranking. It is also essential to make transparent decisions and continue Sri Lankan government’s ongoing program on regulatory reforms to achieve set targets in the country. The Implementation of initiatives such as National Single Window on trade blueprint as well as the support for the new trade productivity commission is very important initiatives in this regard. Also, we’re working together to create an environment that is conducive for future growth for both countries.

Moreover, both Sri Lankan and Australian governments are working to finalize next bi-lateral trade and investment action plan.” He told during a discussion held under the theme, “Bi-lateral Trade between Sri Lanka and Australia in Colombo yesterday. It was organized by the National Chamber of Commerce of Sri Lanka.

He said further that Sri Lankan businesses are increasingly seeing Australia as a good partner. In addition, the Australian government is working closely with the Sri Lankan government to address impediments in the areas of trade and investment, since the signing of the Trade and investment framework with Sri Lanka.

“It is also widely known that Australia has become a popular and much sought after international education destination for Sri Lankan students. At any given time, over 12,000 Sri Lankan students are engaged in range of academic programs in Australia. Sri Lanka is among top ten countries for international students in Australia. Also, Australia has a large Sri Lankan origin community representing 200,000 people,” he said.

High Commissioner Holly said further that improvements in key infrastructure assets in Sri Lanka including the Colombo Port and Airports will help Sri Lankan business deepen and diversify partnerships with Australia.

However he noted that there’s some disappointment in bi-lateral investment between two countries.

 


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