Ready to turn Sri Lanka into a knowledge-based, competitive social market economy: Dr. Harsha

“We will make Sri Lanka a dynamic hub where imported goods will be value added and exported,” said Dr. Harsha de Silva addressing the CEOs Forum of the Freight Forwarders Association recently.

“We believe that we can enhance exports, currently at 14.5% of GDP (it was 35% of GDP only 10 years ago) to over 100%. You may ask how that is possible but yes, it is possible. Exports as a percentage of GDP in Singapore is 250% while in Hong Kong it is about 330%. It’s all about bringing in and taking out. What gets added to GDP is the net exports; export minus imports. So if you have 330% of exports, you also have about 300% of imports. That is the kind of country we want to create, one in which you will thrive and grow. A country that will emerge as a competitive nation that can challenge other economic contenders successfully.

“There’s absolutely no doubt in my mind there’s a change in this country voted for on 8 January will continue, and in that continuation, we propose to make sure that your industry which is a vital one, is allowed to grow and thrive alongside others sectors of the economy,” he added.

Dr. de Silva also explained that Sri Lanka’s openness has dropped considerably – in 2013 the country reached the low depths of 90-70 in terms of a percentage of exports and imports as a percentage of GDP. The total of exports and imports divided by the Gross Domestic Product in 2013 was exactly the same number as it was in 1970. “This means that between 1970 and 2013 that figure did go up in the 80s and 90s, in early 2000 it went up  but since then it has fallen to these low end debts.”

“We are hoping to turn it around. Let me tell you, as the Deputy to the PM who was involved in writing the policy which we launched recently and which is going to transform Sri Lanka into a knowledge based highly competitive social market economy, one of our main strategies of growth is going to be trade; international trade would certainly be helpful for you in the freight forwarding industry,” he reiterated.

Dr. de Silva shared details of his party’s vision for a prosperous Sri Lanka with a dynamic economy and a high growth with a large audience present.