Sri Lanka needs USD 8 billion to strengthen economy

RanilSri Lanka needs USD 8 billion to strengthen its economy, Prime Minister Ranil Wickremesinghe told Parliament today.

He said that Sri Lanka received between USD 600-700 million this year but it needs more than that to have a stable economy.

The Prime Minister said that the Government will look to get that USD 8 billion by expanding its trade market.

He said that Sri Lanka will sign trade agreements with China, India, Singapore and several other countries.

The Prime Minister said Sri Lanka will also look to the US under its new administration to sign a trade deal.

Sri Lanka is also looking to regain the GSP plus trade concession from the European Union to help push trade between Sri Lanka and the EU.

Wickremesinghe noted that the special economic zone in Hambantota to be setup with China will also help Sri Lanka’s economy.

The tourism industry will also see a boost through the development of Sri Lanka’s ports and airports, he said.

The Prime Minister urged the opposition to support the budget and the economic policies of the government to take the country forward. (Colombo Gazette)

2 COMMENTS

  1. Ranil.. W… the Primer must give an authentic facts and figures that Foreign direct investments sources ,which countries and what type of agencies are that promised by the flow of the Capital ?
    Primer’s statement must be accountability by revealed sources ,to public that real promised of by sing MOU with relevant organizations or countries has engaged with the Govt. of Sri lanka.

    I have notice Primer is talk to offhand and give pep talks on Foreign Direct Investment time to time has NOT been materialist since 2015 January 9th ?

    The Responsibility of Primer ,who is in-charge of day to day the of Government adiminsation has made previous occasion that many said statement are out of truth .

    The proposed Trade agreement with India ,China & Singhopern timely is not that viable by the misdeeds of economic vandalism of current UNP neo-liberalist policies are uncertainties of the system of Economy its growth.

    An Our’ s national Economy development and progress has been that standstill last 23 months.

    We are lagging behind that not followed WTO procedure of Trade relationship with Indian FTA, which want review as earliest possible date.

    We Sri Lankan citizens are NOT that happy it and is prepared to sing ETCA with India without REVIEW- FTA between Sri lanka and India is over due more than 10 years.

    Sri Lankan the Trade with Indian and China is priority of National Economic development agenda.
    But there is no way to surrender ours Economic Sovereignty at any cost of Nation Economy by UNP led Ranil W…regime by sing ETCA with India.

    The case of Trade with Singhoporean is different one; ,Singhoporean citizens are looting Central Bank by Bond Scam . We lost confidence of Business and Trade connection Singhoporean.
    We are totally an opposed -proposed Trade Pact with Singhopern is NOT that urgent .

    The People of Sri Lankan want to CB Bonds scam must be having full an inquire by International commitment by Impartial partiers involve of Local and Foreign legal panel .Otherwise proposed Trade agreement with Sri lanka and Singhopern is quite impossible.
    Needless to say that will undermined country national Economy by Looters of foreign national are belongs to the Singhoporean citizens.

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