Sri Lanka to create efficient environment for investors

Sri Lanka hopes to introduce new bills in parliament by June to create a more efficient, dynamic and secure business environment conducive for investment, Foreign Minister Mangala Samaraweera said on Monday.

Speaking after talks with his Swedish counterpart Margot Wallstrom, Samaraweera said as Sri Lanka improves market access to the subcontinent by deepening free trade pacts with India and Pakistan, it was also negotiating a Free Trade Agreement with China.

Therefore, he said, the government was confident that the Swedish trade delegation led by Wallstrom would find Sri Lanka an attractive gateway to the subcontinent and the Indian Ocean rim.

Samaraweera said Sri Lanka was also consolidating its position in developed markets such as the US.

"We are also buoyed by the EU Commission lifting the red card on Sri Lanka's fish exports, and we will soon be in a position to regain GSP plus concessionary access to the EU market," he said.

"By June a number of important bills will be introduced in parliament to create an even more efficient, dynamic and secure business environment conducive for investment. Sri Lanka then will be truly open for business."

Wallstrom is expected call on President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe. She will also visit the northern city of Jaffna, which was once controlled by the Tamil Tigers.

--IANS

mr/