Sri Lanka a classic model of wealth creation: Rajapaksa

Highlighting the unprecedented economic revival in Sri Lanka, President Mahinda Rajapaksa today cited the country as a "classic" example that has relied on a sustainable model of wealth creation.

Addressing the Commonwealth Business Forum, one of the three side events leading upto the CHOGM summit later this week, Rajapaksa said Sri Lanka strives for high economic growth to propel the country towards a middle-income nation by 2016.

"Sri Lanka could be cited as a classic example of a country that has relied upon a sustainable model of wealth creation, through the collective efforts of its many and varied stakeholders...Together with a sustained approach towards social and human development.

"Any analyst, who cares to examine the Sri Lankan development case study, would be able to see clear signs of this pragmatic approach, which has led to the positive results in our country," he said.

Rajapaksa said today's event is of great significance and importance in several ways.

"We are meeting at a time when my country and people are experiencing a historic and unprecedented economic revival, in an environment of peace and tranquillity, after suffering from the menace of terrorism for many decades," he said.

The Commonwealth Business Forum 2013, themed 'Partnering for Wealth Creation and Social Development', held over three days, is a premier business event in the Commonwealth bringing together heads of government, ministers and top business leaders from around the world.

It is being attended by over 1,000 delegates.

India is represented by an 11-member high-level business mission from the Confederation of Indian Industry (CII).

In addition to the CII CEOs Mission, over 20 Indian companies are expected to participate in 'Reflection of Sri Lanka: Exposition on Trade, Tourism & Investment' scheduled to be held parallel to CHOGM, the Indian High Commission said.

On the other two side events, Commonwealth Secretariat officials said that the Youth Forum, currently in progress in the southern town of Hambantota, had formally adopted the discussions held in Papua New Guinea in April to set up a Commonwealth Youth Council.

A 9-member executive committee is to be formed with four African nations bidding for the chair.

The theme of this year's Commonwealth People's Forum currently held in the southern resort of Hikkaduwa is 'Equitable growth and inclusive development: beyond 2015'.

The focus is on the post-2015 development agenda with workshops on food security, climate change, diversity, women s economic empowerment, reconciliation and creative expression, and building employment opportunities.