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Friday, 12 October 2012 03:33 - - {{hitsCtrl.values.hits}}
By Uditha Jayasinghe
Top business leaders have been appointed as members for a Joint Task Force with India that is expected to fast-track investment opportunities between the two countries and reach the target of US$ 10 billion in trade by 2015.
India’s Commerce Minister Anand Sharma during a visit to Sri Lanka in August proposed that a Joint Task Force (JTF) should be set up between the two countries to attract investment for a specialised export zone to be set up in the Eastern Provincial town of Trincomalee.
Four top Sri Lankan private sector professionals as well as eight public officials were approved to represent the island as part of the JTF by the Cabinet, its Spokesman and Media Minister Keheliya Rambukwella told reporters. The private sector is represented by Samson Group Managing Director Kulatunga Rajapaksa, John Keells Holdings Chairman Susantha Ratnayaka, Brandix Lanka CEO Ashroff Omar, and Ramya Holdings Chairman Ramya Weerakoon.
The Sri Lankan public sector is represented by eight officials, including Industry and Commerce Ministry Anura Siriwardena, Health Ministry Secretary Dr. Nihal Jayathilake, and Department of Commerce Director General P.D. Fernando. In addition it has officials from the Economic Development Ministry, Customs, External Affairs Ministry, and Board of Investment.
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Seven members from India’s private and public sectors would represent the subcontinent on the JTF. They consist of officials from the Indian Commerce Ministry, pharmaceutical industry, finance sector, and automotive manufactures.
The names were presented in a Cabinet paper by Industry and Commerce Minister Rishad Bathiudeen.
“The main areas that they will concentrate on are attracting investment from pharmaceutical, automobile, and human resource development sectors. We are keen to see more investment from India in Sri Lanka and the task of the JTF is to review the present situation and submit proposals for the mutual benefit of both countries,” he added.
Responding to questions, Rambukwella noted that they had not ruled out the controversial Comprehensive Economic Partnership Agreement (CEPA) and that the JTF would deal with “overall issues” pertaining to trade between the two countries.
India is Sri Lanka’s largest trade partner with 2011 figures hitting US$ 5 billion. Sri Lanka is India’s largest trader in the south Asian region.
During Sharma’s recent visit he pledged to double trade between to two nations by 2015. Initially the Indian Minister encouraged the JTF to be established within a month of his visit.
