Pioneering Commonwealth Expert Group meets in Sri Lanka

Tuesday, 27 March 2012 00:46 - - {{hitsCtrl.values.hits}}

The first-ever consultation by Commonwealth Expert Group on Investment will commence today (27) in Mt. Lavinia. The two-day regional consultation by the Commonwealth Secretariat will be held at the Mount Lavinia Hotel.

“This is the pioneering meet of this nature under the Commonwealth leadership. The meeting is for the purpose of gathering the inputs of South Asian countries towards a draft guide for developing countries in general to negotiate bilateral investment agreements,” said Rishad Bathiudeen, Minister of Industry and Commerce. “Developing countries on their own are not able to formulate strong negotiations. With the valuable assistance of the Commonwealth Secretariat, we can overcome this together.”

Officials from South Asian countries including Bangladesh, India and Pakistan will be taking part in this two day session. Minister Bathiudeen made this announcement yesterday in the aftermath of his discussions with officials of the Department of Commerce. “We expect major inputs from the participating countries,” Minister Bathiudeen added.

Although the various Expert Groups are not decision making bodies within the Commonwealth Secretariat, their members are asked to personally and professionally comment and assist in the issues of its members, often significantly contributing to macro policy discourse and development in member countries.

The Department of Commerce is entrusted with coordinating the important meeting. Collaborative Government departments in this initiative are the BoI, the Foreign Ministry and the Auditor General’s Department. There will be a welcoming session with remarks by the Commonwealth Secretariat and by the Sri Lankan Government. As the focal point for investment, the BOI or the Ministry of Economic Development are likely to make statements during this session.