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by surekha galagoda

The Colombo stock market recorded its highest turnover for the year, Rs 778.7 million, last Thursday amidst positive sentiments brought about by the successful conclusion of the first round of peace talks between the Government and the LTTE. This was the third highest daily turnover recorded in the history of the Colombo Stock Exchange. The turnover for the week was Rs 1.9 billion. On right Prof G.L. Peiris and Anton Balasingham chat during a coffee break at the peace talks. Rudrakumaran, a legal adviser to the LTTE, looks on. Combined pix: Chinthaka Kumarasinghe and AFP

Sri Lankan foreign missions are geared to reap the maximum economic benefits in the aftermath of the successful conclusion of the first round of peace talks between the government and the LTTE. The Foreign Ministry has already informed all missions to explore avenues of increasing trade and investment links with their respective countries.

"This is in line with the Government's effort to ensure rapid development," said Minister of Foreign Affairs Tyronne Fernando adding that the peace process would create a favourable situation for Sri Lanka in the eyes of the international community.

The missions have been advised to place emphasis on areas such as tourism, trade and other bilateral issues relating to the economy.

A series of fora will also be held in key cities in major investor countries for boosting investor confidence. The Trade Exhibition and Investment Seminar due to be held on October 1 at the JETRO Akasaka Exhibition Hall in Tokyo is among these.

Minister of Enterprise Development, Industrial Policy and Investment Promotion and Constitutional Affairs Professor G. L. Peiris and Minister Tyronne Fernando will address this seminar. Minister Fernando is also scheduled to meet the members of the Osaka Chamber of Commerce and Industry on September 4 in a bid to lure more investment to Sri Lanka.

After signing the ceasefire agreement eight months back, Sri Lanka grabbed the eye of foreign investors who had previously shunned the island nation.

Within 48 hours of concluding the initial round of peace talks, Sri Lanka received over one billion rupees in foreign aid from several major donor countries including Germany, Japan, Australia, Switzerland and the European Union.

This is the initial amount pledged while more support will follow mainly for the development of the North and East which has been engulfed in war for 20 years.

The assistance will be routed for de-mining, resettlement and provision of food and drinking water projects. Fernando said the assistance was not something new."

The funds were waiting, but short-sighted politicians did not make use of the opportunity to attract it. Now the UNF government under the leadership of Prime Minister Ranil Wickremesinghe is fully committed to attract donors and investors for the development of the country."

Prime Minister Wickremesinghe in his speech to the UN General Assembly urged the world community to pour more aid for the rehabilitation of war-torn areas in the island. Later he addressed investors in New York on the opportunities available in Sri Lanka.

At the commencement of Peace Talks in Sattahip, Thailand, Minister G.L. Peiris, LTTE representative Anton Balasingham and Norwegian Ambassador Vidar Helgesen urged the international community to get together to assist Sri Lanka, specially to develop the battle-scarred North-East. Professor Peiris, in an interview with the BBC correspondent Keshini Navaratnam, has said that the peace process has benefited the whole country and not only the North - East as perceived by some.

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