Economic Diplomacy kicks off with inter agency collaboration

HonDepFM-EconDiplomacyIn line with the government’s policy to enhance the economic development of the country, the Ministry of Foreign Affairs says it is geared to intensify the promotion of trade, investment and all economic endeavors through economic diplomacy.

As a first step in that direction, an inter-agency task force was established and the first meeting was held today in the Ministry with relevant Government agencies, Private Sector Institutions including Business Chambers.

Deputy Foreign Minister, Dr. Harsha de Silva, while launching the task force emphasized the need to work together in partnership in order to reach the targets of economic development.

He highlighted the role of the Foreign Ministry which will involve coordinating and working with all organizations and optimizing the use of resources available under its authority by means of Sri Lanka Missions abroad to promote economic diplomacy of Sri Lanka.

The meeting decided to augment information and knowledge sharing as the prerequisite for promotion of trade and investment abroad. In this regard, Minister de Silva stated that the Ministry is considering to establish a dedicated economic and business knowledge service system.

This system is expected to provide updated information inter alia political, economic interests, export potential, trade and investment opportunities, policy and regulatory issues information with a view to facilitate internal partners and Sri Lanka Missions abroad, enabling to facilitate service inquiries and undertake promotional activities.

As a first step it was decided to convene a meeting with line agencies including the Ministry of Strategies Development and International Trade, Department of Commerce to discuss the Trans Pacific Partnership (TPP).

The task force will meet once a month to review progress of ongoing activities, propose new activities and approaches to strengthen the overall economic diplomacy.