Sri Lanka has clinched continued support for its international trade work from the Commonwealth.
Industry and Commerce Minister Rishad Bathiudeen represented Sri Lanka at the inaugural Commonwealth Trade Ministers Meeting (CTMM) that opened in London on March 9.
Minister Bathiudeen met with Secretary-General Patricia Scotland to discuss on the progress of Commonwealth’s projects with Sri Lanka.
The objective of CTMM was to reaffirm the commitment of Commonwealth member countries to a “transparent free and fair multilateral trading system,” and to define an ambitious Commonwealth led “Agenda for Growth” to promote trade, investment and job creation in member countries.
This will support the target of increasing intra-Commonwealth trade to USD one trillion by 2020.
“I am pleased that talks with the Rt. Hon Patricia Scotland, Secretary-General of Commonwealth on March 9 in London were successful. We are set to receive continued positive support from the Commonwealth to our international trade work as a result”, the minister said and added: “Sri Lanka’s historic relations with the Commonwealth stands further enhanced with this pioneering event in London.
Especially the “Agenda for Growth” idea to promote trade, investment and job creation in member countries such as Sri Lanka shall help our unity government’s reform vision of industry and commerce.”
The Secretary-General thanked Sri Lanka for their contribution to the Commonwealth Trade Finance Facility and discussed ongoing projects where the Secretariat’s technical assistance is provided.
These include support with free trade agreement negotiations, designing an export diversification strategy and helping to set up an export/import bank.
The CTMM took place at Lancaster House in London on March 9-10 in advance of the 2018 Commonwealth Heads of Government Meeting (CHOGM) in the UK, with many Trade Ministers across the C’Wealth joining the event.
Sri Lanka’s Minister of Development Strategies and International Trade Malik Samarawickrama and many other Trade Ministers from the Commonwealth joined the meeting.
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