Jaffna International Trade Expo 2017, showcasing the potential of the Northern Province, will be held from January 27 to 29, 2017 at the Municipal grounds, Jaffna. There will be over 300 stalls ranging from consumer products to industrial goods. The expo to held for the eighth consecutive year also expects exhibitors from India to take part.
In terms of provincial GDP, the Northern Province is the smallest among all provincial GDP’s in Sri Lanka. In 2015, the Northern Province GDP was US $ 2.6 billion and accounted for a mere 3.5 percent of the Sri Lanka’s total GDP. The biggest GDP province, the Western Province recorded a total of US $ 31 billion.
The Northern Province has been a fast growing province among provinces, despite having the smallest provincial GDP. In 2011-12, the Northern Province GDP was a huge 26 percent and during 2012-13 period it was 12.1 percent, the he said.
The Northern Province is well on the track to become a vibrant economic force in the country, despite recording the smallest provincial GDP, Minister of Industry and Commerce, Rishad Bathiudeen said.
The Minister pointed out that the lack of industries, infrastructure, low level of human resources, lack of economic and business information, slow investment approvals, private sector unwillingness to get involved in the province and more importantly the fear among potential stakeholders who still have memories of three decades of conflict as some critical issues that hampers the growth potential of the province to a greater extent.
“After the issues are resolved, the country can expect the province to become a key contributor to Sri Lanka’s GDP,” he said. - SJ