Sri Lanka should move towards freer trade: diplomat
Thursday July 4, 2019 17:16:00
ECONOMYNEXT- Sri Lanka needs less protectionism to develop further as a country, Britain’s top diplomat to the island was quoted as saying.
The Council for Business with Britain in a statement said that British High Commissioner James Dauris, while addressing the group’s annual general meeting, had called for greater competition and freer trade for the development of Sri Lanka.
“Freer trade, lower barriers, less protectionism, more dependable enforcement of contracts, simpler property registration rules are some of the keys,” Dauris said.
He said competition will allow Sri Lankan companies to reach global heights.
The diplomat also called for developing a better climate for entrepreneurship and to develop standard priciples for companies.
He said Sri Lanka must strive for a better position on the Ease of Doing Business Rankings, where it was ranked 100 out of 190 in the last edition.
He called for professionalism, greater integrity and ethical standards in the corporate sector, which should push for the same in public sector.
He also called on business leaders to help the government make better decisions.
“As senior business managers and leaders, you have key roles to play in holding the government and others to account," Dauris said.
"Hand in hand with this responsibility goes a responsibility for supporting the government, for sharing the good advice you can give that will inform wise decision-making, for standing with the government when it wants to take sensible steps but is meeting opposition,” he said.