Sri Lanka has More Export Opportunities to Discover
To gain more investors from countries like China, India, Pakistan and Singapore Sri Lanka will have to sign more Free Trade Agreements in the future. This will definitely help to create more job opportunities and also will help to attract more foreign exchange in the form of foreign direct investments (FDIs) to Sri Lanka.
According to the Former Chairman of Ceylon Chamber of Commerce (CCC), Chandra Jayaratne, the only strategy available to increase exports rapidly was to seek help from the investors of those mentioned countries. Furthermore he stated that this would help to achieve three main targets, increase rapid investments, bring employment opportunities, and create niche markets for exports.
He also mentioned that Sri Lanka will obviously stand a chance of doing free trade with North and South America through the Trans Pacific Partnership agreement.
“This will enable Sri Lanka to tap more opportunities when targeting West Asian and East Asian markets with these four manufacturers. For the meantime, Sri Lanka’s exports can be boosted by implementing free trade agreements with a range of opportunities with aforesaid countries although many professionals protests against this development,” he added.
He also showed his concern stating that, it is also important to give the priority to value chain where we could operate logistic, services, storage which would certainly boost up Sri Lanka’s economy.
