President discusses investment opportunities with Japanese business leaders

Saturday, 16 March 2013 00:48 - - {{hitsCtrl.values.hits}}

Tokyo: Sri Lankan President Mahinda Rajapaksa met with leaders of Japan’s corporate and industry sectors on Friday, the final day of his four-day official visit to Japan.

During the meeting with Japanese business leaders, Minister of External Affairs Prof. G.L. Peiris and Governor of the Central Bank of Sri Lanka Ajith Nivard Cabraal spoke to the delegation about the economic climate prevailing in the country as well as areas of opportunities for potential investors.

The Sri Lankan delegation extended an invitation to the corporate leaders to visit Sri Lanka to see for themselves the possibility of doing business in Sri Lanka.

A member of the Japanese corporate community spoke favourably of Sri Lanka’s environment for potential investors. “For many investors, predictability is very important,” he said, commenting on the political stability that exists in the country.

The Japanese delegation also said that even though Sri Lanka with its roughly 20 million population is a relatively small market for investors, the good relations Sri Lanka maintains with its neighbours opens up a host of opportunities for companies to use Sri Lanka as a central location for trade within the region.

President Rajapaksa met with Prime Minister of Japan Shinzo Abe on Thursday at the Prime Minister’s office.

During the summit meeting, both President Mahinda Rajapaksa and Prime Minister of Japan Shinzo Abe confirmed the importance of national reconciliation for a lasting peace in Sri Lanka, noting that peace and prosperity following the end of the war is a paramount need.

The two leaders signed the joint statement that would, among other aspects, expand maritime cooperation between the two countries.

In the joint statement President Rajapaksa highly appreciated Japan’s Official Development Assistance (ODA) over the years while Prime Minister Abe highly appreciated the specific efforts made by the Government of Sri Lanka for the realisation of national reconciliation.

Sri Lanka’s Ambassador in Japan Admiral (Rtd.) Wasantha Karannagoda and Japan’s Ambassador in Sri Lanka Nobuhito Hobo signed an agreement that would provide development assistance totalling Yen 43.8 billion to Sri Lanka to be used in areas including infrastructure development and disaster prevention.

Addressing the media following the summit meeting, both leaders expressed a keen willingness to further strengthen bilateral relations between the two countries.