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Friday, January 04, 2013 - 05.18 GMT

Sri Lanka unveils first high level JTF with India

 

Sri Lanka has unveiled its team in the high level India-Sri Lanka Joint Task Force (ISJTF) on 03 January. The pioneering includes top officials of some key Ministries and four well-known private sector heavyweights, the Ministry of Industry and Commerce said in a statement.

"I wish the Sri Lankan assemblage of ISJTF all success in their efforts. The ISJTF will be a major step not only in historic Indo-Lanka bilateral trade, but even in opening the huge Indian markets for our keen exporters," announced Rishad Bathiudeen, Minister of Industry and Commerce on 03 January.

Minister Bathiudeen said this in the aftermath of the first sessional meeting of Lankan ISJTF members held at the Ministry of Industry and Commerce, Colombo on 03 January. ISJTF, which represents top authorities of private and public sectors of both countries, was approved by the Cabinet in October 2011 based on the proposal of the Minister Industry and Commerce. ISJTF aims at promoting bilateral trade and investment between both countries with initial sectors of focus being pharma, textiles and automotive components.

The Sri Lankan component of ISJTF consists of eight government officials and four leading private sector reps. Anura Siriwardene (Secretary, Ministry of Industry and Commerce) shall be the Chairman of the Committee joined by Dr. Y.D. Nihal Jayathilaka (Secretary, Ministry of Health), PD Fernando (Director General of Commerce), S. R. Attygalle (Deputy Secretary to the Treasury), Jagath Wijeweera (Director General of Customs-represented on 03 January by Tharaka Seneviratne, Director of Customs) V Krishnamoorthy (Director General / South Asia and SAARC, Ministry of External Affairs), Ms. Saroja Sirisena (Director General of External Affairs, Ministry of Economic Development), Wijaya Kulathilleke (Director / Investment, BOI) and from the private sector, Kulatunga Rajapaksa (Managing Director, D. Samson Industries and Co-Chair, Indo Sri Lanka CEO Forum), Susantha Rathnayaka (Chairman, John Keells Group and Chairman of Ceylon Chamber of Commerce), Ashroff Omar (CEO-Brandix Lanka and Chairman, JAAF) and Ms Ramya Weerakoon (Chairman / Managing Director of Ramya Holdings Pvt and President, National Chamber of Exporters).

"It is important that we should start focusing on strengthening bilateral trade in non-ISFTA segments and product lines as well in achieving our national export targets under the vision of the President Mahinda Rajapaksa. I believe that the visit of Indian Commerce Secretary this month (on 14 January) will help us to move in this direction," Minister Bathiudeen added.

According to the Department of Commerce, in 2011 the total trade between Sri Lanka and India ISFTA was nearly $ one billion. India’s exports to Sri Lanka in 2011 has registered an annual growth of over 70% (from $ 2.5 Mn to $ 4,350 Mn) while Sri Lanka’s Exports to India has registered an annual growth of 16.8% (from $ 466 Mn to $ 521 Mn) resulting in $ 3,828 Mn Balance of Trade in favour of India with an annual increase of 84% over 2010.





 


 

 
 
   
   
     
   
   

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Last modified: January 04, 2013.

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