Lanka needs to think beyond a regional financial hub - CCC | Daily News

Lanka needs to think beyond a regional financial hub - CCC

 

 Sri Lanka may need to think of development beyond a regional financial hub with the massive investments envisaged in both the Megalopolis and the Port City Development project for the Colombo financial hub to progress beyond the region to become significant globally, Ceylon Chamber of Commerce, CEO Dhara Wijayatilake said.

Speaking at the Sri Lanka - China Business Forum, Wijayatilake said as Sri Lanka’s economy grows and the financing requirements of businesses develop, there will arise a need to attract external sources of finance.

A high-powered 24 member business delegation from Jiangsu Province, China arrived in Sri Lanka this week to explore business opportunities in the country. The delegation was headed by China Council for the Promotion of International Trade of the Jiangsu Sub-Council Vice Chairman, Cong Sufent.

Commenting on Sri Lanka –China Free Trade Agreement ( FTA) ,she said that Sri Lanka and China have already had three rounds of talks to finalise the FTA and the main purposes of the proposed FTA are to open up the vast Chinese market to Sri Lanka’s producers, manufacturers and exporters and to cover a substantial number of tariff lines and trade as well as address

non-tariff barriers that may hinder export expansion.

On tourism front, China is the second largest tourism market for Sri Lanka.

In 2015, total number of arrivals from China to Sri Lanka was around 214,783.

In terms of trade, exports and imports both have increased over a period of time.

However, the balance of trade is in favour of China. 


 

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