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* Sri Lankan President emphasizes the need of eliminating economic disparities
Fri, Sep 15, 2017, 12:26 pm SL Time, ColomboPage News Desk, Sri Lanka.

Sept 15, Colombo: Sri Lankan President Maithripala Sirisena emphasized the need of proper handling of the country's economic process to eliminate existing economic disparities.

He said this is essential as the country has been accepted as a mid-income country by international agencies and this factor has been taken into consideration when the National Economic Council was established.

President Sirisena was speaking at the Presidential Exports Awards ceremony held at the BMICH on Thursday. The President presented 59 awards for various fields including 10 special awards in the export field for year 2016. Two awards each were presented for the goods and services fields.

Addressing the gathering the President expressed his appreciation to private sector exporters who have overtaken the government in the field of exports.

Speaking at the event Minister of Development Strategies and International Trade Malik Samarawickrama pointed out that Sri Lanka has confined its exports to only three major markets - US, UK and India and to only few products and the trend needs to be changed.

He noted that Sri Lanka has not been very successful in exporting to key Asian markets like Japan, China, South Korea and Hong Kong. These four countries are among the top 10 markets for exports in the world, accounting for 20 percent of the global export market, but accounted for only 6% of Sri Lanka’s exports, he pointed out.

The Minister said "It is high time we made stronger inroads in Asian markets."

 

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