Lanka improves rank in global competitiveness

Sri Lanka has moved up in the latest Global Competitiveness Index signalling a positive turn for its export diversification moves.

"Sri Lanka has improved to Rank 65 from its previous 68 in the Global Competitiveness Report 2013-2014. We stand just below the Russian Federation in this ranking. According to the index, Sri Lanka leads among SAARC countries on competitiveness levels," said Industry and Commerce Minister Rishad Bathiudeen at a seminar 'From Agriculture to Agribusiness: The Pathway of Chile' at the Mount Lavinia Hotel recently. Sergio Rodriguez of the Faculty of Agriculture and Forestry Engineering, Catholic University of Chile and Honorary Consul of Chile in Sri Lanka, Mano Selvanathan, officials from the EDB, private sector representatives including Cargills, academia and officials from Chile's Delhi Embassy were present.

Minister Bathiudeen said, "Chile is one of Sri Lanka's leading trade partners in the South American region. Bilateral trade between Chile and Sri Lanka stood at $ 45 million in 2012.

Our top two exports to Chile are tea and spices. The bilateral agreement, for agricultural trade and cooperation, between the two countries, signed in Colombo, in 2007, strengthened our historic links, further."

"We also see Chile as a platform to access other markets, in the South American region. We congratulate Chile for being selected as the highest ranked, Latin American nation by the World Economic Forum in its latest, Global Competitiveness Report 2013-2014. This achievement is despite the challenging international markets," he said.

"Back in 1980s we were backward but after opening our economy and entering many FTAs, our GDP grew steadily and now Chile is a global player. Our exports grew and today we are the fifth largest exporter of wine in the world," said the New Delhi based Ambassador of Chile accredited to Sri Lanka, Cristian Barros adding "Sri Lanka-Chile trade cooperation goes back a long way despite being geographically distant. And of course, 90% of Chileans drink Ceylon Tea."