Consensus can boost WTO trade - Dr. Kelagama
by Lalin Fernandopulle
Sri Lanka has achieved significant growth in the apparel sector due
to the Free Trade Agreements (FTAs) with countries in the region, said
Export Development and International Trade Minister Prof. G. L. Peiris.
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Executive Director, IPS, Dr. Saman Kelagama presents a copy of
the book to Minister of Export Development and International
Trade, Prof. G. L. Peiris.
Pic. by Sumanachandra Ariyawansa. |
He was addressing a ceremony to launch the book 'South Asia in the
WTO' edited by Dr. Saman Kelagama, Executive Director, Institute of
Policy Studies.
Prof. Peiris said Sri Lanka should make good use of the FTAs and play
a major role in the WTO to promote trade. Trade among South Asian
countries has grown at a rapid pace and it has a major say in the WTO.
"The book will be of immense use to policy makers, academics and
students of economics to make their contribution towards enhancing trade
and promoting the region as a key player in global trade", he said.
Dr. Kelagama said world trade has grown 27 times over the past 50
years and it developed three times faster than the global GDP.
Multi-lateral trade has made a salient contribution to global trade.
"The WTO trade discussions have been a failure due to lack of
consensus among developed and developing countries. Discussions in 2006
collapsed and there has not been any progress yet", he said.
He said a consensus reached on common issues such as agriculture and
aid for trade will help the region expand trade. World trade will
develop if there is proper planning. The countries in the region face
great challenges in analysing and synthesising proposals made by other
members of the WTO.
The book prepared on the basis of an international conference in 2006
on South Asia and WTO consists of nine chapters giving comprehensive
coverage on the position of each country in the region in the
organisation.
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