'Lanka's economy could progress by joining with its neighbours' | Daily News

'Lanka's economy could progress by joining with its neighbours'

Deputy Minister Wickramaratne with President of NCCSL, Tilak Godamanne and Senior Deputy President, Sujeeva Samaraweera at the event. Picture by Vipula Amarasinghe

India is poised to be the highest growing economy in the world in future and Sri Lanka can benefit by aligning it self towards India, said Deputy Minister of Public Enterprise, Eran Wickramaratne.

The Deputy Minister who was the Chief Guest at the 57th annual general meeting of the National Chamber of Commerce (NCCSL) last evening, said that Sri Lankas future economic progress has to be linked up with its neighbours. He said that almost all super powers in the world are facing economic or political problems and India seems to have over come them. "Sri Lanka will look at areas where to be cautious."

The minister also said that they would look at Economic and Technical Cooperation Agreement (ETCA) and Comprehensive Economic Partnership Agreement (CEPA) more cautiously and would take decisions that would not be detrimental to the local economy. "We will also look at having non tariff barriers with separate states of India."

Wickramaratne said that the decision by the government provide land ownership to 1.5 million house holds would have a major positive impact for low income families.

"Due to this low income families would have collateral to gain access to credit and thereby start entrepreneurs. "Collateral was a major issue in obtaining credit and now 1.5 million people could become new entrepreneurs." Deputy Minister said that Sri Lanka would have to seriously look at providing more employment opportunities to women in high earning fields. "It's sad to note that only about 35% of women are employed and it is sad to note that over 85% of them is in the estate sector earning low salaries. It's high time to reverse this trend." The Deputy Minister representing the Moratuwa Constituency said that he travels by train from Colombo and it's a very tedious journey. "I don't know how women are managing this 40 minute ride and its long over due to re look at a better train service system." 


 

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