Launch of the British – Sri Lanka Chamber of Commerce in London and Sri Lanka - A New Era Highlighted at the Economist Conference

Dr. Sarath Amunugama, Deputy Minister of Finance and Planning, inaugurated the establishment of the British – Sri Lanka Chamber of Commerce at the Sri Lanka High Commission, London on 16th Sept. 2010 in the presence of a large gathering of prominent UK businessmen, industrialists and financiers. The Hon. Minister focussed on the New Era for Sri Lanka in the aftermath of restoration of peace in the island and emerging opportunities open for UK business engagement in a multitude of sectors ranging from the leisure industry , power, infrastructure and manufacturing.

At this occasion, the President of the British Chambers of Commerce (BCC) the apex national body for the powerful and influential network of accredited Chambers of Commerce (CCC) across UK, signed a Memorandum of Understanding with the CEO/Secretary General of the Ceylon Chamber of Commerce establishing the British – Sri Lanka Chamber of Commerce which will be the catalyst for promotion and development of imports, exports, inward and outward investment links between individual British Chambers of Commerce, in the UK and Sri Lanka. The British – Sri Lanka Chamber of Commerce, an initiative of the Trade Divison of the Mission with the BCC and the CCC aims to provide a UK based network facility and higher image and profile to Sri Lanka’s Business interests primarily through the BCC which is the largest, multi-sectoral multi-size membership with the most extensive geographic spread amongst regional chambers in the UK and a network of chambers across the globe. Presentations made by the Deputy High Commissioner, Secretary – General CCC and the CEO of De La Rue in the UK considerably boosted the business confidence of the participants at this launch event of the British – Sri Lanka Chamber of Commerce.

Hon. Minister was invited by The Economist to speak at the prestigious Emerging Markets Summit on 16th September,2010 , held annually by The Economist Group in London on the theme “ The New Risks: The World They see is not the world You see” to put the record straight on the Western – centric view of risks in emerging market countries such as Sri Lanka. This was indeed a valuable opportunity to highlight Sri Lanka positively to a high – level international and UK business and financial sector comprising of an elite core of high powered business interest. In answer to questions on Sri Lanka ‘s post – conflict situation, Dr. Amunugama utilized the opportunity to emphasize the Political and Economic order, stability and potential for investment and industry arising after the cessation of violence in the country, the devolution of power arising out of the implementation of the 13th Amendment to the Constitution and the vista of opportunities for investment available across a wide spectrum of industry and finance. He spoke of the common synergies existing amongst emerging markets in the region in the effective collaboration between private, public and corporate sectors of the economy through similar evolution of patterns of development in governance and economic advancement in these respective countries as India, China, Vietnam, Sri Lanka etc. The equal empathy in which Sri Lanka holds Chinese and Indian engagement in the island was also mentioned in the context of inviting global investment into the country based on objective criteria of economic efficiency.

Launch of the British - Sri Lanka Chamber of Commerce

The Economist Emerging Markets Summit Conference

Sri Lanka High Commission
17th September 2010.