In an unprecedented development, and for the first time, Sri Lankaโs institutional biz know-how is sought for at international levels. โYour strong Ease of Doing Business Index ranking has set an example for other SAARC Countries. I think we can learn from you of this process. We would like to visit Sri Lanka or seek your technical expertise in thisโ said an eager Mohamed Saeed, Minister of Economic Development of Maldives on 17 January in New Delhi.
Maldivian Minister Saeed was addressing Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) on 17 January at Taj Hotel, Mansing Road, New Delhi during a ย meeting between Ministers of both countries held at the sidelines of the fifth SAARC Business Conclave held in New Delhi. Minister Bathiudeen was in New Delhi leading the Lankan delegation to the fifth SAARC Business Conclave held in New Delhi. Commerce Ministers from all SAARC countries were in attendance at this session.
Also present at the session were, Manorie Mallikaratchy (Minister Counsellor, Lankaโs High Commission in Delhi), Upekkha Samaratunga (Sri Lankaโs Consul General in Mumbai) and officials and businessmen from Maldives. Among the Maldivian delegation members were Adam Azim (Managing Director, State Trading Organisation Plc of Maldives).
โMy intention is to take our bilateral trade to the next level. Sri Lanka has been a key supplier to Maldives-in fact, daily, continuously we import from Sri Lanka. We have to work together in building partnerships in our economic activitiesโ said Maldivian Minister Saeed, and added: โYour strong Ease of Doing Business Index ranking has set an example for SAARC Countries. I think we can learn from you of this process. We would like to visit Sri Lanka or seek your technical expertise in this. Itโs our desire too to progress in the doing business index and Sri Lanka can help us in this.โ
โOur historic bilateral cooperation goes beyond trade and has many aspects to it. Thanks to the committed vision of (HE) the President of Sri Lanka Mahinda Rajapaksa, we are now expecting economic growth above 7%โ said Minister Bathiudeen and added: โOur Ease of Doing Business Index rank is a strong 84, and BoIโs speedier registration processes, our bilateral investment protection treaties with more than 20 countries and general business and investor friendly environment, among others, have helped us to climb in these global rankings. We welcome Maldivian teams to Sri Lanka to enlighten them on our processes, and I and my government are ready to extend fullest support to you in this.โ
Both Ministers also discussed of enhancing trade potentials further in future from current levels of $ 68 Mn. According to the Department of Commerce of Sri Lanka, Maldives is the third largest trading partner of Sri Lanka among the SAARC countries, after India and Pakistan. The value of total trade between the two countries stood at US$ 68.53 Mn in 2012 (while Indo-Lanka bilateral trade stood at $ 3.2 Billion from January to October 2013). Sri Lankaโs exports to Maldives, which stood at $ 45.18 Mn in 2002 rose to $52.41 Mn in 2012 while imports from Maldives declined to $ 16.12 Mn (Yโ12) from a peak of $ 31.21 Mn in 2002. Sri Lankaโs major exports to Maldives in 2012 were insulated wires, vegetables, iron or steel & its articles, miscellaneous food preparations, articles for the conveyance or packing of goods, plastics and tea. The first Session of the Sri Lanka โMaldives Joint Commission was held in Male in April 2006 and following a recommendation made at this session, the Sri Lanka โ Maldives Bilateral Business Council was formed under the aegis of Ceylon Chamber of Commerce in May 2007.
Leader of All Ceylon Makkal Congress