Sri Lanka has identified the attraction of foreign direct investment (FDI) as one of the key policies in bringing about the rapid development of the country.
“One vital element in the process for attracting investment is to create strong economic bonds between all countries by entering into investment agreements at the intra regional level,” Minister of Development Strategies and International Trade, Malik Samarawickrama told an international forum in Colombo last week.
“This can be achieved by developing the necessary capabilities for negotiators to initiate discussions at the bilateral, regional and multilateral level,” he said.
The 10th Annual Forum of Development Countries Investment Negotiations was organized by the International Institute for Sustainable Development (IISD), the South Centre and co-hosted by the Ministry of Development Strategies and International Trade and Board of Investment of Sri Lanka (BOI).
Samarawickrama said as far as Sri Lanka was concerned, the forum would be very useful as the country is engaged in the process of negotiating FTAs with several key partners in the Asian region such as China and Singapore. “The forum is very much an international event with over 50 countries represented and therefore, an excellent platform where delegates with a vast knowledge and experience can share ideas and know how in many areas relating to investment negotiations,” he said.
The Minister said the forum offers considerable potential for capacity building, networking and the exchange of ideas and experiences.
Minister Samarawickrama also outlined some the improvements that have taken place in Sri Lanka which international participants will be able to witness during their visit.