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``India an excellent role model''

V.S. Sambandan

Sri Lankan Prime Minister reiterates his commitment to stronger bilateral economic ties

SHOWCASING INDIA: Indian High Commissioner to Sri Lanka Nirupama Rao presenting a book of Nobel laurete Amartya Sen to Sri Lankan Prime Minister Mahinda Rajapakse at the ``Made In India'' show organised by the Confederation of Indian Industry in Colombo on Thursday. — Photo: Sriyantha Walpola

COLOMBO: "India is an excellent economic model for Sri Lanka to follow," Sri Lankan Prime Minister Mahinda Rajapakse said on Thursday.

He was inaugurating the "Made in India" exhibition, organised by the Confederation of Indian Industry in collaboration with the Indian High Commission and the Ceylon Chamber of Commerce. The five-day show, scheduled to conclude on September 26, is aimed at increasing awareness of Indian products in the Sri Lankan market.

Reiterating his commitment to stronger bilateral economic ties, Mr. Rajapakse said the meeting of minds would usher in new thoughts and ideas. This would result in the economic integration of South Asia for the benefit of all.

Towards greater integration

Nirupama Rao, High Commissioner of India in Sri Lanka, said New Delhi remained committed to deepening and expanding the vibrant partnership between the two countries. There was immense scope for further expansion of bilateral trade. The Comprehensive Economic Partnership Agreement (CEPA), which was being negotiated, would carry forward the progress made after the bilateral Free Trade Agreement and move towards greater integration.

The 1990s saw a major diversification of Indian exports to the neighbouring island-nation. The traditional Indian export basket for Sri Lanka was diversified to include a range of industrial goods such as petro and pharma products, iron and steel, practically the entire range of automobiles, cement, paper, foodgrains and commodities.

Sri Lanka's major exports to India include copper, cloves, pepper, naphthalene, apparel, alloy steel scrap, magnetic and optical readers, craft paper and corrugated paper board.

"Expedite CEPA talks"

V. Srinivasan, past president of the CII and leader of the business delegation, said the show reflected the changing face of India, its economy and industry. He urged the two Governments to expedite the ongoing CEPA negotiations, as its early implementation would enable both countries to reap early benefits for freer trade in goods and services.

Deva Rodrigo, chairman, Ceylon Chamber of Commerce, said the CEPA would have a direct relation to investment and help in creating wealth and employment in both countries.

Over 50 Indian companies representing a range of products and services, including automobile manufacture and ancillaries, bicycle and motorcycle manufacturing, home products, financial and educational institutions and a range of other industries, are participating.

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``India an excellent role model''

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