U.S. Treasury Department for Asia will keep on providing the necessary technology for the future program of economic stabilization in Sri Lanka, said U.S. Treasury Department’s Deputy Assistant Secretary for Asia, Robert Kaproth.
He said the assistance they expend to Sri Lanka will continue. Kaproth opined this at the Asian Development Bank Organized fifth SAARC-ADB special meeting in Colombo.
Meanwhile, State Minister Finance Shehan Semasinghe said that not only Sri Lanka but many countries are economically affected after the C-19 pandemic, the current Ukraine-Russia conflict and other geo-politics.
The state minister pointed out when countries’ economies are not strong due to these issues SAARC countries should regionally unite in solving these issues instead of facing these issues alone. The State Minister said that the intra-trade of the SAARC region is about 1% of the total GDP. “It is approximately 5% of the total trade.”
The South Asian region has a strong potential for economic growth and the region must look at strengthening their regional production network. “It is also necessary to prepare plans targeting both the regional and international markets,” he said.
The Minister said that with the support of the International Monetary Fund, the country’s economy is now on an upward trend. “Towards this the government took important and sometimes unpleasant decisions which resulted in this positive change.”
He also thanks the people for understanding and supporting these reforms. Finance Ministry Secretary, Mahinda Siriwardena and many other local and international officials participated.
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