The two-day Sri Lanka Economic Summit 2017 will be inaugurated this morning with the participation of Mr. Sanjeev Sanyal, The Principal Economic Adviser to the government of India, Dr. Indrajit Coomaraswamy, Governor of the Central Bank of Sri Lanka, Honorable Eran Wickramaratne, The State Minister of Finance, Dr. Harsha De Silva, Deputy Minister of Economic Planning and Mr. Rajendra Theagrajah, Chairman of the Ceylon Chamber of Commerce,.
The two-day event, which is the country’s foremost economic summit and organized for the 17th consecutive year will be held under the title of ‘Execute – Transform - Realize’. Eight thematic sessions will be conducted during the summit, while the inaugural session will be held under the title of ‘Accelerating Growth and Pushing for Performance’.
Over 50 resource persons, consisting of high profile cabinet ministers, policy makers, business leaders and academics will take their seats to share insights and also make recommendations on how Sri Lanka can transform its economy to realize its true potential by right execution of plans.
The complex correlation between reinforced concrete shear walls, steel frames and outriggers in modern skyscrapers was demystified by one of the world’s leading structural engineers at a professional forum in Colombo recently.
Using case studies of some of most remarkable high rises under construction around the world, Predrag Eror, Principal of Derby Design Engineering and the Structural Engineer of Altair, explained how structural design principles enable tall buildings to sway with no compromise to their integrity.
Sri Lanka and Bangladesh are two countries that continue their friendly relationship for a long time in the economic and political areas, especially as members of the South Asian Association for Regional Cooperation (SAARC) dedicated to South Asian cooperation. Recently, President Maithripala Sirisena visited Bangladesh further strengthening the bilateral ties between the two nations.
It is of the importance that attention was paid to triple the bilateral trade, which values at US $ 142 million and has potential to be boosted. For this purpose, there must be mutual understanding economically and politically between the two countries, in addition to the free trade agreement (FTA), for which two high commissioners had discussions a few months ago.
Bangladesh is also a country that exports apparel to the global market but has not been able to secure GSP Plus that Sri Lanka currently enjoys, mainly due to the labour rights issues in Bangladesh. Hence, we are able to export apparel to the European market at cheaper rates than Bangladesh can.
However, the cheap labour in that country has been the main attraction for apparel investors to come to the country. It is labour in Sri Lanka that is no longer cheap and the apparel industry has been suffering from the lack of sufficient labour, which has to be considered a key factor for boosting apparel exports by tapping GSP Plus.