Executing a Smarter Trade Strategy amidst Turbulence, Sri Lanka Economics Summit 2017
25 – 26 July 2017
Colombo, Sri Lanka
IPS Acting Executive Director, Dr. Dushni Weerakoon, recently pointed out that Sri Lanka has no option but to integrate into the global economy as the country has exhausted potential for debt financed growth. However, she added a note of caution, saying that Sri Lanka should be careful not to exaggerate the potential gains of trade agreements and create unrealistic expectations.
Dr. Weerakoon made these remarks at the Sri Lanka Economic Summit 2017, held in Colombo, on 25 – 27 July 2017. She was a panelist at a session titled ‘Executing a Smarter Trade Strategy Amidst Turbulence.’ The session focused on the viability of Sri Lanka’s new trade reform effort, anchored to tariff liberalization, preferential trade agreements, and export promotion.
She also noted that Sri Lanka needs to have a strong domestic regulatory framework in place and focus on unilateral trade reforms, to reap the maximum benefits of bilateral free trade agreements (FTAs). She highlighted that Sri Lanka needs to be more strategic in its economic integration efforts.