Lanka initiates economic ties with Australia

Colombo: The two way trade between the two countries was worth Australian $ 300 million and that there was scope for further improvement of these figures through a sustained effort from both sides, said Foreign Minister Rohitha Bogollagama when he met with the Federal Minister of Trade, Simon Crean in Canberra for wide ranging discussion on trade, investment and tourism related issues on the second day of his official visit to Australia.

The Foreign Minister proposed that Australian businessmen view Sri Lanka as a spring board to the vast Indian and Pakistani markets with which Sri Lanka has free trade agreements, said a news release issued by Sri Lanka Consulate General in Sydney.

The Australian Trade Minister stated that there was indeed a good opportunity for Australian companies to capitalise on Sri Lanka's unique geographical position, in this regard.

Minister Bogollagama made a request for Sri Lanka to be considered as a vulnerable economy with a view to extending appropriate tariff concessions for local exports with particular reference to garments, in order to make them competitive in the Australian market.

The Foreign Minister proposed the establishment of a comprehensive economic ties between the two countries, that would extend to education, health and tourism.

The Sri Lankan Minister briefed Minister Crean that talks on Australia-Sri Lanka air services agreement had been concluded and that the agreement would be ready for signature soon.

This development, he observed, would provide the foundation for the establishment of greater air connectivity between the two countries, providing easier and more convenient access for Australian tourist to visit Sri Lanka.

He further stated that Sri Lanka could serve as a hub for travellers from Australia to the Middle East, India and even to Europe.

Highlighting the country's excellent air connectivity, he stated that there were 120 flights a week to India and 42 to London also on a weekly basis.

Minister Crean accepted Foreign Minister Bogollagama's invitation to visit Sri Lanka at a mutually convenient time.

With regard to concerns expressed by travel operators on Sri Lanka as a destination for tourists, Minister Bogollagama underlined the fact that in the entire history of the conflict of the country, tourists had not been targeted at any time.

He therefore requested for a reappraisal of the travel advisory issued by the Australian Government in order that it would be more reflective of the current ground situation.

Later on the same day, the Foreign Minister delivered the keynote address at the 'Sri Lanka Trade, Investment and Tourism Seminar' held at the New South Wales State and Regional Department in Sydney.

The event organized by the Consulate General of Sri Lanka in Sydney attracted leading companies based in New South Wales.

A question and answer session followed, at which Minister Bogollagama clarified many issues of interests and concern.

Australian businessmen and investors who have invested in Sri Lanka shared their positive experiences in doing business in the island.

A presentation by the Sri Lanka Tourism Authority was viewed with a great deal of interest by the audience.

A reception that followed the event enabled an informal interaction among those present.