Sri Lanka on exciting journey, Mahinda tells Commonwealth biz
Wednesday, 13 November 2013 00:58
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Inaugurates biggest-ever Business Forum in its 16-year history with 1,500 participants from 95 countries
Says 22nd CHOGM being hosted by Sri Lanka as country turns new page in history; exciting new journey towards prosperity for people
Speaks for the poor, wealth disparity and emerging nations’ resilience
By Nisthar Cassim, Cheranka Mendis and Shabiya Ali Ahlam
President Mahinda Rajapaksa yesterday told the Commonwealth that Sri Lanka is on an exciting journey towards better prosperity, but urged greater economic growth to fix the widening wealth disparity within the grouping.
The emphatic optimism as well as listing of key issues for the 53-member grouping was shared at the biggest-ever business forum of the Commonwealth, which kicked off in Colombo yesterday at the Cinnamon Grand.
“It is a matter of pride and deep satisfaction to me that this opportunity (CBF and CHOGM) presents itself here in Colombo, as my country turns a new page in its history and embarks on an exciting journey towards prosperity, for all our people,” the President told a packed audience at the inauguration of the three-day business forum attended by over 1,500 people.
Among those present were over 650 foreign delegates and over 750 local business leaders, international and local media. Participation is the highest in CBF’s history since 1997. The largest delegation from a Commonwealth nation was 150 from UK whilst there were 250 participants from Africa. Furthermore, there were delegates from 30 non-Commonwealth countries with the largest contingent from China.
This prompted External Affairs Minister Prof. G.L. Peiris to quip “2013 CBF transcends the Commonwealth whilst enveloping the globe”. He added that unrivalled attention on Sri Lanka testifies the thriving attractiveness of Sri Lanka as a hub for global business.
The President said CBF is of great significance and importance to Sri Lanka in many ways: “First, we are meeting at a time when my country and people are experiencing a historic and unprecedented economic revival, in an environment of peace and tranquillity, after suffering from the menace of terrorism for many decades. Second, we are able to share with you, our home-grown development strategy, based on the ‘Mahinda Chinthana,’ which strives for high economic growth, with equitable distribution of its benefits, amongst all our people.
“Third, we are able to display the newly emerging Sri Lanka ‘brand,’ where our people are focused on the creation of new wealth in our country, through a robust hub strategy, where the maritime, aviation, knowledge, commercial and energy sectors, together with tourism, are designed to propel Sri Lanka towards a ‘middle-income nation’ by 2016. In that background, I believe all of you will agree with me that the theme of today’s Forum ideally fits Sri Lanka’s own philosophy, while also articulating a vital need in today’s global economy!”
During his speech the President also dealt a lot on issues facing among Commonwealth member countries.
He said the annual per capita incomes of member countries range from about US$ 250 to over US$ 50,000 and “this stark reality conveys the significant wealth disparity, within the Commonwealth nations”. In that context, Rajapaksa said the selection of the Forum theme, namely, ‘Partnering for Wealth Creation and Social Development,’ is undoubtedly relevant and timely.
Today, we still have to reluctantly admit that the world has not yet been able to find durable solutions to the vexed problem of poverty as highlighted in the past CHOGM Declarations. If at all, the situation seems to have become even more challenging, in the light of the tremendous stresses that the world economy is experiencing.
As many experts have regularly pointed out, certain short-sighted policies and acute misjudgements during the recent past have resulted in a gloomy, global economic outlook, leading to the social frameworks of individual countries, being severely stressed and threatened.
“It is vital that all of us, as one cohesive body, adopt a collaborative approach to find ways and means in our own economies, to link wealth creation with social and human development, at all times. A recent study by the World Bank revealed the interesting finding that 80% of the improvement in the incomes of the poorest 40% of the population in 118 countries was due to the overall economic growth in those countries. This conclusion suggests that the expansion of growth in an economy is vital, if poverty is to be reduced,” the President said.
Fortunately, however, he said the growing levels of prosperity in Asia and several other emerging nations have served as a reasonably useful anchor for the sustenance of global economic growth, and it has been possible for the world to strike a rather helpful balance, over the past few years.
Whenever global tensions escalate due to political and economic disagreements or disputes, among the wealthy and advanced nations, those who suffer most are the developing and emerging nations. The obvious conclusion is that for genuine and credible partnerships to be established for wealth creation, the more advanced nations need to be sensitive to the issues of the lesser developed nations, and must be honestly supportive of promoting trade with emerging nations.
In that regard, Sri Lanka could be cited as a classic example of a country that has relied upon a sustainable model of wealth creation, through the collective efforts of its many and varied stakeholders, together with a sustained approach towards social and human development.
Any analyst who cares to make a case study of Sri Lankan development would be able to see clear signs of this pragmatic approach, which has led to the positive results in our country.
The Forum, which will focus on regional development, sustainable growth of rural economies, tourism and hospitality, with over 100 public and private sector speakers, is also aimed at providing an ultimate meeting point for entrepreneurs, investors, government bodies and global technology and knowledge-based industry specialists.
Deputy Minister of External Affairs Neomal Perera, Commonwealth Business Council Chairman Dr. Mohan Kaul and Director General Peter Callaghan also spoke.
