The Ministry of Development Strategies together with the USAID-SAIL project hosted a public-private dialogue (PPD) on Global Trade on Wednesday 12 June 2019 at Taj Samudra, Colombo. The event titled “Integrating into Global Trade – How can Sri Lanka maximise benefits and minimise risks?” was the first in a series of district-level PPDs being held to increase the general awareness and understanding of trade, and obtain the views of wider and more representative groups of stakeholders across the country. The event generated vibrant debates and discussions among over 80 participants from ministries, government agencies, the business community, trade chambers, the private sector, and other key stakeholders. The resource personnel were led by USAID-SAIL Trade Expert Dr. Sanath Jayanetti who spoke on “Opportunities, Costs, and Benefits of Trade Arrangements”. He was followed by Department of Import and Export Control Assistant Controller Kasun Fernando who spoke on “Import and Export Control law and expected amendments”. Department of Commerce Deputy Director Ruwanthie Ariyaratne spoke on safeguarding interests of people – trade remedies (antidumping, countervailing, and safeguards) and elaborated on the new trade information portal. Department of Customs Deputy Director Priyantha Saparamadu dealt with new initiatives at customs, and Registrar of Companies Assistant Registrar Heshan Mathugamage explained the progress of EROC (e-registration of companies) project and his role as the official receiver. Each presentation was followed by a questions and answers session. Gracing the occasion were guest of honour USAID – Economic Growth Office Director Brian Wittnebel, Minister of Development Strategies and International Trade (MODSIT) Malik Samarawickrema, MODSIT Secretary Sisira Kodikara, and USAID-SAIL project Chief of Party Glenn Mackenzie-Frazer. Delivering the keynote address, Samarawickrema stated: “International trade is a priority area of our Government, and as you know, our Ministry has been a catalyst for many trade reforms over the past few years.” “Sri Lanka had turned its back on integrating with the global economy and had become less and less open to international trade prior to 2015. Since we came into office, we have taken a multi-pronged approach to change that, as we believe it is trade and FDIs that can transform this country by creating good jobs.” “We have a new trade policy which resets our economic orientation towards trade and provides the roadmap for reforms in this area. We also have a national export strategy that aims at diversifying our export basket that had remained stagnant for two decades, and focuses our attention on six priority sectors and four trade support functions.” “We have embarked on a path of cutting para-tariffs within three years, and more than 1,200 items have been done already. In Parliament last year, we passed long overdue trade remedies legislations that provide protection to our enterprises against unfair competition and undue pressure from imports.” “We have done new FTAs like the landmark one with Singapore and several more – with India, China, and Thailand – are in the pipeline. And finally, we have the new trade adjustment programme that was approved last month and the trade and productivity commission that was approved just last week.” USAID launched the four-year SAIL project in October 2016 to support economic reforms and promote FDIs in Sri Lanka. SAIL provides policy and institutional support to improve the business-enabling environment and promote investment in Sri Lanka. One of SAIL’s focus areas is to support Sri Lanka’s processes of trade integration and facilitation, including support to the free trade agreement process. Trade plays a key role in increasing Sri Lanka’s growth, and an export-oriented strategy is important in achieving this goal. “The US-Sri Lanka development and humanitarian assistance dates back to 1956. Since then, the US government’s development agency, the United States Agency for International Development (USAID), has invested more than Rs. 320 billion ($ 2 billion) in grant aid; not loans,” noted ur, Wittnebel. “This assistance has benefitted Sri Lankans across the country and in diverse fields like agriculture, environment and natural resources, infrastructure, business development, health, education, governance, and humanitarian assistance.” “Initiatives such as this PPD are vital in creating awareness on how trade, tariff policies, and other trade instruments can be combined with market access opportunities already available to Sri Lanka. Such initiatives also demonstrate the Government of Sri Lanka’s commitment to transparency and to the broader aim of seeking feedback from the private sector,” added Wittnebel. Minister Samarawickrema had a special message for the private sector. “The economy has to be driven by the private sector and that too by a private sector that is willing and able to compete internationally. We are a small domestic market, and we have no option but to integrate strongly with the global economy. But of course, we want to be sure to give our industry, our private sector, the best possible chance to succeed by providing the right policy environment, strategies, supportive programmes and instruments, and timely information,” he said. “All these initiatives are aimed at reorienting our economy to be more trade-driven and integrating more with the global economy. Let’s be clear and pragmatic – this is the only way to usher in prosperity for our country and create more and better jobs. The Government cannot create jobs; we cannot keep using debt-fuelled public investment to generate growth. Anyone who tells you otherwise is misleading you,” the Minister concluded.