Asean Investor

Lanka, Thailand to accelerate economic partnership

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Publish date: Fri, 03 May 2013, 10:22 AM
Marc Djandji, CFA is the Editor-in-Chief of The ASEAN Insider, a subscription-based monthly investment newsletter committed to finding compelling investments backed by powerful structural trends in Southeast Asia. He is also a co-Founder and Partner of ASEAN Strategy Group Ltd., an independent investment banking boutique focusing on cross-border M&A and corporate finance advisory for companies in the small to mid-market segment in Southeast Asia.

Friday, May 03, 2013

Sri Lanka’s hosting of the current session of the third Joint Commission between Sri Lanka and Thailand signifies the renewed vigour with which we pursue our bilateral relations as they provide a unique platform to further consolidate and expand our traditional friendship with Thailand, said External Affairs Minister Prof. GL Peiris.

Minister Peiris was speaking at a ceremony to welcome Deputy Prime Minister and Foreign Minister of Thailand Surapong Tovichakchaikul and to announce the successful conclusion of the 3rd Joint Commission between Sri Lanka and Thailand.

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“Today our two countries have made some important decisions in accelerating our economic partnership. As part of the upliftment of the livelihood of the people and to increase production within the country, the increased volume of trade and inbound investment is paramount. Under the framework of the Joint Commission we are exploring the possibility of increasing trade volume up to the threshold of US $ 1 billion within the next 3-5 years,” Minister Peiris said.

“We have agreed to revitalize the sub-committee on trade in reaching this target. Both sides supported an enhanced dialogue to promote private sector investments particularly in the SME sector. Agriculture and fisheries sectors were two other areas which were explored in providing food security to our nations and also in strengthening the village reawakening programmes being pursued by both our countries,” he said. “We agreed to promote Buddhist circuit tourism in conjunction with the celebrations organized for commemorating the 260th anniversary of the establishment of Siam Upasampada and the arrival of Upali Maha Thero from Siam, which holds much cultural significance for both our countries. Ports and aviation were highlighted for strengthening connectivity and for expansion of co-operation,” Minister Peiris said

“Since the establishment of formal diplomatic ties in 1955, the longstanding good relations and cooperation between our two countries have further expanded to include working together in multilateral and regional fora.

“We are grateful to Thailand for supporting Sri Lanka through trying times in the recent past and assisting in diverse manner to safeguard the sovereignty and territorial integrity of Sri Lanka. In more recent times, for extending support towards Sri Lanka at UN Human Right Council, by standing against an intrusive and unwarranted country specific Resolution based on political motives and thereby supporting the reconciliation and reconstruction process of Sri Lanka intended to bring about a lasting solution to the needs of all the people.

“Other fields of collaboration included the strengthening information and intelligence sharing in defence and security co-operation. Technical assistance and education co-operation were also considered vital in developing a knowledge based economy.

The importance placed by Sri Lanka on the bilateral relations with Thailand is also symbolised through the recent official visit of Mahinda Rajapaksa to Thailand in 2012.

The high level visits to each others’ countries also provides a solid political foundation and mutual trust with which we could pursue a dialogue on trade, investment and other such areas of mutual interest. “We are extremely pleased to welcome the Prime Minister of Thailand at the end of this month to Sri Lanka and Her Royal Highness Princess Maha Chakri Sirindhorn for the culmination of Siam Upasampada celebrations in Sri Lanka in August.

I am also happy to note that the cultural ties also have expanded to include the granting of scholarships and the technical assistance extended by Thailand has been instrumental in enhancing capacity building of our public officials.

“I am happy to state that the Joint Commission meeting would no doubt provide a renewed interest to further our bilateral relations based on the accruing opportunities for co-operation,.

By http://www.dailynews.lk

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