Being a smaller economy, it is important for Sri Lanka to align with Sustainable Development Goals.
“It is important for a smaller economy such as Sri Lanka to streamline its trade and economic policies aligning them with sustainable development goals” said Minister of Industry and Commerce Rishad Bathiudeen making a presentation on the sidelines of Sri Lanka’s fourth Trade Policy Review at the World Trade Organization in Geneva.
Sri Lanka’s delegation was headed by Minister Bathiudeen, who presented Sri Lanka’s economic perspectives to the large audience with over 150 participants under the theme
“Sri Lanka – An Emerging Economic Hub in Asia”.
Minister Bathiudeen in his opening remarks said:
“Sri Lanka is in a major transition in relation to its political, social and economic perspectives. For the first time in the history of Sri Lanka, the two major political parties in the country have come together and established a National Unity Government with the objective of providing a common platform to deliver long-term social and economic solutions.
“The National Unity Government is in the process of introducing major reforms to the economy. Sri Lanka is currently a lower-middle income country having per capita income of US$ 3924 and the country is in her way to become an upper-middle income country. Towards this journey, it is important for a smaller economy such as Sri Lanka to streamline its trade and economic policies aligning them with sustainable development goals. Sri Lanka, as a founding Member of the GATT and WTO places its highest consideration in multilateral trading system in establishing a level playing field with due recognition for development aspirations of smaller economies.”
The audience was represented by the Member countries of the WTO, senior members of the WTO, International Trade Centre, World Economic Forum, UNCTAD, Advisory Centre on World Trade Organization Law, etc.