FOCUS SRI LANKA 06 March 2012 SRI LANKA - BANGLADESH in Flying High Trade Talks after 19yr lapse As Sri Lanka-Bangladesh nearly two decades with trade tops an all-time the last round being held high of 46 million U.S. in 1993. dollars, the latest round of trade talks kicked off “Last year President of Sri between the two coun- Lanka Mahinda Rajapaksa tries, the Industry and and Prime Minister of Commerce Ministry said Bangladesh Sheikh Hasina here on Wednesday. agreed that the JE&TC should be revived,” Bathi- Sri Lanka’s Industry and udeen said prior to his de- Commerce Minister Rishad parture for Dhaka. Bathiudeen is attending Mr. Prasanna Wickramasuriya, Chairman of the Sri Lanka-Bangladesh Both sides agreed that the Airports and Aviation Services, discusses plans Joint Commission on Eco- bilateral trade between for Sri Lanka to take advantage of its strate- nomic and Technical Co- Bangladesh and Sri Lanka, gic location, and become an air transport and operation (JE&TC), said though showing positive logistics hub for the entire South Asia region the ministry in a state- trends, was far below the ment. potential and did not re- What are your thoughts whole country. That is the flect the cordial on the new administra- idea. The talks have been con- political rela- tion and the change? vened after the lapse of tions. How is Sri Lanka emerg- To what extent can the ing from the past situa- civil aviation industry tion of conflict regarding take part in this develop- INTERNATIONAL FINANCE CORP. CEO ment to build an airport? terrorism and what is the MEETS WITH PRESIDENT RAJAPAKSA next step? In 2010 when the Presi- The Executive on the private sec- country covers pro- I am glad that you started dent ran for the second Vice President tor in developing jects across a range off with the new admin- time, he fine-tuned his vi- and Chief Execu- countries. of sectors—includ- istration. In 2005 when sion for the future further. tive Officer of the Sri Lanka is a focus ing infrastructure, the President requested a He identified 5 key areas International Fi- country for IFC’s tourism, renew- mandate to become presi- to make Sri Lanka a mari- nance Corporation program in South able energy, bank- time hub (because we are dent, he followed a mis- (IFC) Las Henrick Asia. IFC’s com- ing, and sion. Previous successive an island) an aviation hub, Thunell called on mitted portfolio of a knowledge hub, a com- health governments had plans President Mahinda $200 million in the care. but they did not have a mercial hub and an energy Rajapaksa yester- clear-cut and well-spelt hub. Sri Lanka’s entire de- day at the Temple out vision. His vision was velopment will be focused Trees. on these 5 areas. to identify aviation as a During the meet- key area where Sri Lanka What does being an avia- ing, the IFC of- has a very strategic loca- tion hub involve? Is it a ficial has assured tion, so it can play a big- refueling hub, a passen- the President that ger role in aviation and ger hub, a maintenance his institution will maritime. He understood hub or maybe all of provide the invest- this way back in 2005 and them? ment opportunities he followed this strategy. and advisory ser- It is about everything. Sri vices necessary to Would you say that the Lanka has a strategic loca- get the full support next step is to balance tion so we are focusing on and the contribu- the country in order to making the country an avi- tion of the private reach parity within the ation hub. We are going to sector over the fu- regions? concentrate on increasing ture well-being of Before 2005, 50% of GDP passenger numbers, after the country. (Gross Domestic Product) the security situation im- IFC, a member of was in the western prov- proved in 2009. There has the World Bank ince, so the whole idea of been a vast influx of pas- Group, is the larg- the President is to spread sengers coming est global devel- this development over the into the country. opment institution focused exclusively Copyright © 2012 Embassy of Sri Lanka - Washington DC, USA.