Minister of Development Strategies and International Trade Malik Samarawickrama met with Børge Brende, President of the World Economic Forum (WEF) and senior officials engaged in areas relating to Sri Lanka.
The visit of the Minister took place as a continuation of Sri Lanka’s engagement with the Forum facilitated by the Sri Lanka’s Permanent Mission in Geneva, on the eve of the 2018 Davos Summit, which will take place from 23-27 January 2018, where the WEF Annual Programme takes shape.
Sri Lanka’s Permanent Representative to the UN in Geneva Ambassador Ravinatha Aryasinha, Sri Lanka’s Permanent Representative to the WTO Ambassador R. D. S. Kumararatne, Managing Director (Designate), Agency for Development, Ministry of Development Strategies & International Trade Mangala Yapa, and officials of the Mission were associated in these meetings.
During the meetings on 4-5 January, the two parties agreed to explore the possibility of hosting an 'Investment Round Table' in Sri Lanka in the near future. Brende who was the former Foreign Minister of Norway recalling his interactions with Sri Lanka, assured to work closely with the Government to strengthen cooperation between WEF and Sri Lanka.
The Minister also held discussions with senior WEF officials on the areas of Trade Facilitation, Future of Production, Private Sector Engagement and Sustainable Development Investment Partnership (SDIP). The possibility of embarking on collaboration between the WEF and Sri Lanka in the areas of focusing on sustainable production in apparels and textiles, upgrading the tourism sector, strengthening ICT related industries and making the agriculture sector more productive was also discussed.
It was also agreed to explore avenues under The Sustainable Development Investment Partnership (SDIP) initiative, which is a joint initiative of the World Economic Forum and the Organization for Economic Co-operation and Development (OECD), in order to establish investment partnerships relevant to Sri Lanka’s interest, in particular in the area of transportation and connectivity. It was also considered on having contacts with experts in relevant areas on both sides on a more regular manner, to exchange views and to follow up on developments.
During the visit the Minister also had a bilateral meeting at the Permanent Mission, with the representatives of the ‘Global Alliance for Trade Facilitation’ programme and it was agreed to consider a cooperation agreement to implement a “Multi-Country Consolidation hub” in Sri Lanka, under the ‘Global Alliance for Trade Facilitation’ programme, leveraging on Sri Lanka’s high potential to become a trade hub in the Indian Ocean and bolstering investment opportunities. Launched at the WTO 10th Ministerial Conference in 2015, the Global Alliance for Trade Facilitation is a public-private platform that leverages business expertise, leadership and resources to support effective trade facilitation reforms that foster broad-based opportunity and economic growth in both developing and least developed countries.
