EU urges Sri Lanka to raise environmental standards

ECONOMYNEXT – Sri Lanka should introduce high and consistent environmental standards as part of measures to attract foreign investors in to the island, European Union representatives told a forum on investments and stronger economic ties.

The call was made at the fourth EU – Sri Lanka dialogue between the EU Embassy and embassies of representative countries of the Union at the ministry of development strategies and international trade, the Board of Investment of Sri Lanka said in a statement.

“  . . . the EU delegation spoke of a need for Sri Lanka to formulate environmental standards that are consistent and of a very high level,” it said.

EU Ambassador to Sri Lanka Tun Lai Margue said the EU was studying Sri Lanka’s current budget since it reflected some of the country’s political and economic objectives, which met some of the recommendations of the World Bank  and of the International Monetary Fund.

The budget would lead to the creation of a more favourable business environment and several progressive outcomes would arise from such efforts, he was quoted as saying. 

“This included evaluating the possibility of foreign investors owning land in Sri Lanka, as well as economic packages that would promote the development of small and medium enterprises,notablyin the Northern Province.” 
(COLOMBO, November 29, 2017)

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