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Latest topics
» Can anyone explain ?
by Neluka Karannagoda Today at 12:04 am

» WELCOME MANGALA
by kovida Yesterday at 10:00 pm

» VFIN DIVIDEND
by Harry82 Yesterday at 8:14 pm

» KZOO ANY IDEA OF THE PRICE BEFORE RIGHTS?
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» BPPL Moving on
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» Advice need on PCP.N
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» Hotels will become active
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» SFIN UPDATE
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» HSIG enjoy
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» BPPL - Sell your headache
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» LOFC Chart 28.04.2017 (weekly chart)
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» WATA next target
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» Finance Minister Change
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» Why AINV.N not move
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» People's Leasing Company
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» TJL,LIOC,KAPI,MGT,DOCK
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» AINV.N and PCHH.N
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» HVA - HVA FOODS PLC
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» DIPD DIPD go 100/=
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» DFCC Bank - A very valuable counter
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» JKH UNBELIEVABLE
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» BLI Quarterly Results
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» COMB selling
by EquityChamp Thu May 25, 2017 9:26 am

» HEXP annual EPS Rs.33.41 and NAVPS is Rs.92.17
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» Colombo Dockyard PLC - Rising From the Ashes
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» SRI LANKA FINANCE SECTOR - HOLD - Mar 2017 - FC Research
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» Sampath Bank PLC - A giant awakening
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» Collect Collect
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» Sri Lanka studying property loans, SME credit leakages: Central Bank Governor
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» Teejay Jersey Lanka PLC - Depreciated Rupee had a very positive impact
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» Reason behind PCHH.N
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» Profit-takings by blue chips
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» What to buy ?
by Deen79 Wed May 24, 2017 7:00 am

» why suddenly spen.n moving up?
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» AFSL update...
by fortuneteller Tue May 23, 2017 10:26 am

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» Isn't Mackwood Energy Limited a gem
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» SFS. Future.
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» SFIN _DIVDEND
by DHAVER88 Mon May 22, 2017 12:58 pm

» KEEP EYE ON TESS
by DHAVER88 Mon May 22, 2017 11:32 am

» KUMATA MERATA ADIKANANAYA POLISIYA HA WINISURAN ?
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» Sri Lanka: Mangala Samaraweera to be appointed as the Finance Minister today
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» SERA, Seen eka
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» NIFL VS TFIL WHO RUN THE SHOW?
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» What is happening to MEL
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» COCR and ASI
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» NEXT WEEK RUNNING SHARES
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» LETS HOPE FINANCE MINISTER WILL CHANGE
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» TESS Share Quantity annalise of the last 07 days
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» KHC Vs CFT
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» At least 30 % return within 30 days
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» NIFL RACE FINISH
by Teller Sat May 20, 2017 5:50 pm

» VFIN target price -- Rs 80.00 within 2 months
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» AINV A logical choice for now!
by reyaz Sat May 20, 2017 11:02 am

» GRAN @ 65 Technically
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» GOOD to Collect
by anges Sat May 20, 2017 1:26 am

» LLMP good price.
by prabath Fri May 19, 2017 7:49 pm

» NIFL RACE FINISH
by sanjeewa1234 Fri May 19, 2017 5:08 pm

» kZOO why Drop
by sanjeewa1234 Fri May 19, 2017 5:07 pm

» FLCH WILL HIT 3.50
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» When will be the AINV right issue ?
by Neluka Karannagoda Fri May 19, 2017 2:34 pm

» Sri Lanka: Net foreign inflow into Sri Lankan equities top Rs. 7.71 billion year to date
by worthiness Fri May 19, 2017 1:21 pm

» RICH RICH RICH
by dow Fri May 19, 2017 11:55 am

» ABANS Unfair Offer Price
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» Penny fiesta
by prabath Fri May 19, 2017 11:13 am

» VFIN.. is a Gem
by Harry82 Fri May 19, 2017 7:13 am

» GRAN Future
by DS Wijesinghe Fri May 19, 2017 5:54 am

» BLI for june
by fireshelter Fri May 19, 2017 12:52 am

» WHY GSP PLUS SHARES ARE COMING DOWN?
by reyaz Thu May 18, 2017 11:15 pm

» Why COCO still silent
by Teller Thu May 18, 2017 11:07 pm

» Wait there will be a chance to collect
by prabath Thu May 18, 2017 7:47 pm

» HEXP, WHAT IS BEHIND THE SCREEN
by Miss-Sangeetha Thu May 18, 2017 11:23 am

» TESS AGRO PLC
by MRBRAVO Thu May 18, 2017 8:42 am

» VONE.N0000 HOT SHOT .DON'T HESITATE
by The Hunter Thu May 18, 2017 8:28 am

» MALWATTE PLANTATIONS DONE WELL
by Yahapalanaya Thu May 18, 2017 3:05 am

» UDPL & BALA Future... Price
by Ran49 Wed May 17, 2017 10:34 pm

» BLI's wife - BFN
by Maharaja Wed May 17, 2017 9:26 pm

» NIFL TRADING PRICE
by sanjeewa1234 Wed May 17, 2017 8:49 pm

» KZOO BEST PRICE
by sanjeewa1234 Wed May 17, 2017 8:47 pm

» ASI will reach to it's ever high due to all the positive economic achievements ....
by worthiness Wed May 17, 2017 8:18 pm

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by kumarweerarathne Wed May 17, 2017 5:49 pm

» Good Interim Results for Plantation
by jsilva Wed May 17, 2017 5:39 pm

» MPORTANT ANNOUNCEMENT REGARDING DATA ON CSE WEBSITE
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» HEXP will hit 100/= rs.
by Vacations To Sri Lanka Wed May 17, 2017 1:48 pm

» MEGA BULL MARKET AHEAD
by nirowat Wed May 17, 2017 1:45 pm

» HEXP will hit with the Financial report ?
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» CSF.N0000 any idea
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» Today BOGA....
by podda2 Wed May 17, 2017 12:18 pm

» MGT.N 20+ GSP++ BOOM BOOM
by D.G.Dayaratne Wed May 17, 2017 11:44 am

» Sell Poultry stocks....
by kcrRanz Wed May 17, 2017 10:42 am

» GRAN.N000 Below 65/=
by kcrRanz Wed May 17, 2017 10:37 am

» චීන - ලංකා නිදහස් වෙළඳ ගිවිසුම මේ වසරේ දී
by kcrRanz Wed May 17, 2017 10:07 am

» GSP+ හරහා වාර්ෂිකව යූරෝ මිලියන 300 ක්
by kcrRanz Wed May 17, 2017 10:05 am

» HEXP NAVPS - 91/= EPS - 32/= . Any dividend ?
by kcrRanz Wed May 17, 2017 9:56 am

» GSP+ be effected from May 19.
by worthiness Wed May 17, 2017 9:39 am

» Is it ? What's your comments?
by PrasannaMani Wed May 17, 2017 8:54 am

» Very Soon ,Very Soon....LCEM
by sureshot Wed May 17, 2017 5:35 am

» FLCH Browns Capital
by Yahapalanaya Wed May 17, 2017 4:04 am

Sri Lanka can now enter European market: PM

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Sri Lanka can now enter European market: PM

Post by kcrRanz on Mon May 08, 2017 11:05 am

http://dailynews.lk/2017/05/08/local/115349/sri-lanka-can-now-enter-european-market-pm


The Export Market is the only avenue available to develop the country’s economy. Now the European market has opened its doors to Sri Lanka, Prime Minister Ranil Wickremesinghe said.
“Earlier, I discussed this matter when I became Prime Minister in 2003. But the government which followed rejected the proposal to enter the European market which was grabbed by Bangladesh. Today, Bangladesh owned foreign exchange reserves five times more than Sri Lanka. It has attained this progress because it made use of the opportunities lost to Sri Lanka as well as their own opportunities,” the Prime Minister said.
He was addressing the gathering after inaugurating a Youth Agricultural Export Village in the Uva Paranagama electorate on May 5.
The Prime Minister said 40 years ago former President J. R. Jayewardene launched the country’s economy by connecting it to the world market. Although the export economy suffered a setback owing to the war, it made a revival after ending the war in 2009.  Earlier, Sri Lanka had only obtained local commercial loans. But the country became bankrupt when the previous government started taking foreign commercial loans beyond its repaying capability. It was during such a scenario that a change of government occurred in the country.
After the victory of Maithripala Sirisena as the common candidate, a National Government was set up with the objective of overcoming the country’s debt burden.
The first duty of the government was to increase national income. People who avoided paying taxes were netted into the tax regime. VAT was increased amidst wide-scale protests. But now these measures had helped to increase government revenue. As a consequence, the government had been able to cut down on loans necessary to maintain its administration, Prime Minister Wickremesinghe said.
The Premier said next year alone, the government had to repay Rs. 960,000 million in foreign loans. These were loans obtained during 2007, 2008 and 2009. During the four years thereafter, the total repayable foreign loans amounted to US $ 1,500 million. This was a staggering amount which would make us faint, he said.
Now the government had to develop the country while prudently managing the debt burden. The government’s objective was to build a strong economy which would enable the country to repay loans by 2020, he said.
“In order to develop the economy, we had to capture not only the European market but also the markets in India and China,” he added.
“Since the government had been able to increase national income last year, it was in a position to move towards development. Its objective was to achieve development by enriching the country through an export economy. We had to compete with the markets in Singapore, France and Shanghai. The country had already proved its ability to do so in respect of the garment sector,” he said.
The Prime Minister said India had agreed to join hands to develop Trincomalee. One such project was to develop the Trincomalee oil storage complex as a joint venture.
“It would never adversely affect the Ceylon Petroleum Corporation. We would be able to store fuel in Trincomalee and sell it to India and thereby earn a sizeable income. More and more industries too had to be set up in Trincomalee. A joint committee would be set up in association with India to implement this development plan. Japan too would join in this endeavour”.
India would also build a solar energy electricity plant in Sampur and an LNG electricity plant in Kerawalapitiya. Japanese investors would build another electricity plant. The floating LNG terminal would be jointly operated by Sri Lanka, India and Japan.
An Indian firm had agreed to set up an industrial zone in the South with Indian investors.
A Thai firm had arrived to build a 1000 acre trade zone in Kalutara. There would be three industrial zones in Wayamba in addition to industrial zones in Hambantota and Wellawaya.
He said he visited Uva Paranagama on the invitation of Provincial Agriculture Minister Upali Samaraweera to review the development work undertaken by him in the area.
Upali Samaraweera’s objective was to establish a youth agricultural export village in the area. The Ministry of Primary Industries was funding the project. More funds would be provided for the project once the plans were submitted.
He said land value in the area would skyrocket when the Thalpitigala Reservoir Project was completed.

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kcrRanz
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