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Failure of SAARC to deliver acceptable results compels Sri Lanka to look towards other options - PM

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Failure of SAARC to deliver acceptable results compels Sri Lanka to look towards other options - PM
Tue, Oct 4, 2016, 12:57 pm SL Time, ColomboPage News Desk, Sri Lanka.

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Oct 04, Colombo: Sri Lanka's Prime Minister Ranil Wickremesinghe says the failure of the South Asian Association for Regional Cooperation (SAARC) to deliver acceptable results for all members would spell out a bleak future for the organization.

It would also compel Sri Lanka to look towards other viable options, the Prime Minister said, referring to the indefinite suspension of the 19th SAARC summit that was to be held in Islamabad as five of the eight nations including Sri Lanka have pulled out from the summit due to the unconducive environment prevailing in the region.

The Sri Lankan Premier made these remarks delivering a lecture titled, "Sri Lanka and its Place in the World" at the Main Hall of the New Zealand Parliament House on Monday.

The lecture which was organized by the Asia New Zealand Foundation, was attended by New Zealand Parliamentarians, Academics, Sri Lankans and many others. Chair of the Commonwealth Foundation, and former Governor-General of New Zealand Sir Anand Satyanand presided over this gathering was.

Explaining that while the failure of SAARC to deliver acceptable results for all members would spell out a bleak future, it would also compel Sri Lanka to look towards other viable options.

The Premier noted that following the recent attacks in Uri upon an Indian Camp, the SAARC Summit which was scheduled to be held in November, in Islamabad, Pakistan, has since been postponed.

During the meeting, Prime Minister Wickremesinghe recalled the SAARC summit of 1985, when Sri Lanka proposed countering border terrorism, which was ultimately not agreed upon due to disagreements among the parties.

"This year's SAARC summit is in jeopardy due to the war prevailing on the border. However, as the SAARC plays an important role, carrying out the Summit is a matter of great importance," the Premier said.

During his speech, the Prime Minister stated that a simple basis which all the Member States could agree upon must be achieved in order to move forwards in the wake of the present situation.

Referring to his speech at the Indian Ocean Conference held in Singapore last August, he said that in viewing the challenges posed by the future, and taking into account modern world trends, it was imperative that the ASEAN and SAARC work together, so as to benefit all parties involved and improve regional cooperation.

Prime Minister Wickremesinghe pointed out that similarly the time has come to formulate a new system to boost Economic and Trade ties among the Commonwealth Nations, and that in the aftermath of Britain leaving the European Union, the 2013 Commonwealth Summit which saw the 'Kotte Statement on International Trade and Investment', could be adopted.

"In order for these to succeed, attention should be focused on the Indian Ocean region," the Premier said.

He asserted that regional economy and development is not merely a matter of the past, but the future too is based upon the strength of the Indian Ocean region.

The Premier closed his address by explaining Sri Lanka's future plans to develop the Island as an Economic and Financial Hub of the Indian Ocean.

www.colombopage.com/archive_16B/Oct04_1475566067CH.php
 
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what are sri lanka choices for economic development ?
tourism
what else ??
 
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Nice Article and information. Good luck with growth. You guys are bound to grow. BHIMTECH is another forum for you guys.
 
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SL's exports. There are many sectors that perform way below their potential

2014_Sri_Lanka_Products_Export_Treemap.png

textiles is low margin business
precious stones, spices are okay

technology services is the way to go ...
 
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So Sri Lanka counting on SAARC before? :lol:
What did they expect when it's two largest powers by far are at each others throat constantly(and it doesn't looks like it will be better anytime soon, on the contrary).

Better Look towards South East Asia or even East Asia. South Asia is a lost cause for the time being. :nhl_checking:
 
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what are sri lanka choices for economic development ?
tourism
what else ??

To become a proper transshipment and air hub in the region. To attract FDI thorough the proposed industrial estates in the south of the country. Those are the ways we look forward to develop our country.
 
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To become a proper transshipment and air hub in the region. To attract FDI thorough the proposed industrial estates in the south of the country. Those are the ways we look forward to develop our country.

I have a big problem with trans-shipment and air hub.
What is the destination and origin for those trans-shipment containers ??
 
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I have a big problem with trans-shipment and air hub.
What is the destination and origin for those trans-shipment containers ??

Well it's not that much of a problem for Sri Lanka It's already a global distribution hub, Not going to be one, Colombo is the 33rd largest port in the world and by the end of this year will be in the top 20 handling 12.5 million TEU's with the fully operational Colombo South terminal, 70% of Indian cargo is transshipped through Colombo and Hambantota ports.. There are only 4 ports in the Indian ocean region that can berth Mega containers with draught of 16 to 18 metres, Two are in Sri Lanka and other two are Singapore and Dubai

Did you ever think that SL became the nation with highest GDP per Capita and the highest living standards and by the latest findings the most advanced economy in the region by just being a mere tourist hot spot ? Lol

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http://asia.nikkei.com/Business/Trends/Sri-Lanka-becoming-global-distribution-hub?page=1

http://www.joc.com/port-news/asian-...a’s-next-big-transshipment-port_20151020.html

http://www.bloomberg.com/news/artic...500-million-container-terminal-built-by-china

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Well it's not that much of a problem for Sri Lanka It's already a global distribution hub, Not going to be one, Colombo is the 33rd largest port in the world and by the end of this year will be in the top 20 handling 12.5 million TEU's with the fully operational Colombo South terminal, 70% of Indian cargo is transshipped through Colombo and Hambantota ports.. There are only 4 ports in the Indian ocean region that can berth Mega containers with draught of 16 to 18 metres, Two are in Sri Lanka and other two are Singapore and Dubai

20150717SriLankaExports_article_main_image.png


http://asia.nikkei.com/Business/Trends/Sri-Lanka-becoming-global-distribution-hub?page=1

untitled3-png.214186

There is no reason why the container handling ports won't be in India. it is utter waste of money and time to ship container to Sri Lanka before sending it to India.
 
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There is no reason why the container handling ports won't be in India. it is utter waste of money and time to ship container to Sri Lanka before sending it to India.

Well thats India's problem, They do not have the logistics to do it, Colombo have been a hub for decades, Even if India manages to build it's only capable competitor in Vizhinjam port lets say in another decade, World shippers just dont turn away from tried and tested logistic hubs, Logistics does'nt just mean infrastructure, It's got to do with operations mainly
 
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Well thats India's problem, They do not have the logistics to do it, Colombo have been a hub for decades, Even if India manages to build it's only capable competitor in Vizhinjam port lets say in another decade, World shippers just dont turn away from tried and tested logistic hubs, Logistics does'nt just mean infrastructure, It's got to do with operations mainly

it is about saving time and money
 
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it is about saving time and money

It is.. Thats basically why Indian imports and exports go through Colombo mainly, Except for the JNP terminal in Bombay there is no other facility to handle such logistics, Thus it consumes more time because of poor logistical capabilities of other Indian ports

It's the same reason why Kalng, Tanjung or Merak cannot compete with Singapore, Even though Singapore has next to nothing exports of her own
 
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It is.. Thats basically why Indian imports and exports go through Colombo mainly, Except for the JNP terminal in Bombay there is no other facility to handle such logistics, Thus it consumes more time because of poor logistical capabilities of other Indian ports

It's the same reason why Kalng, Tanjung or Merak cannot compete with Singapore, Even though Singapore has next to nothing exports of her own
i see the current state of affairs

with the emphasis on manufacture in India the GOI is going to realize the need for terminals in India
the idea is not to undercut Sri Lanka or anything. the idea is to spur growth in India
 
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