Malik Samarawickrama ………….Text of address by Malik Samarawickrama M.P., Minister of Development Strategies and International Trade at the interaction with the Confederation of Indian Industry (CII) and Indian companies, June 5 in New Delhi
The multifaceted relationship between Sri Lanka and India is rooted in deep civilizational links, which stretch back many millennia. Today, India is Sri Lanka’s largest trading partner; ranked first in terms of the source of imports and the third largest export market. It is also ranked fifth in terms of FDI, which averaged only USD 54 Million in 2013-15. For India, Sri Lanka is the largest trading partner in SAARC, as well as, the largest export market in the South Asian region.
I believe we can do far better in terms of attracting investment from India. In my view, I am confident we are creating conditions, which will be conducive for leveraging the trade – investment nexus in a positive way. This is also the best way to address our large bilateral trade deficit with India. It is my firm conviction that the time is very opportune to explore very aggressively the ways and means of elevating bilateral economic relations between our two countries to a much higher level. There have been a number of developments, which have improved the overall landscape for strengthening bilateral economic links. Continue reading →