We have to ensure that we develop sufficient spaces within our own economies so as to be able to comfortably face the inevitable complexities in the face of global challenges, President Mahinda Rajapaksa said.
"In our view, Individual policy interventions or ad-hoc measures which target just one or two outcomes are often flawed and almost always, do not provide the desired results. Such responses are essentially short-term, and sometimes lead to new difficulties. Although it may sound simplistic, I must say that, for growth to be sustained, we as nations, must get our basics and fundamentals right", President Rajapaksa said delivering the key note address at the Commonwealth Business Forum in Burswood Complex, in Burswood this morning.
Speaking on the topic “The Indian Ocean and the Pacific Rim: Fastest Growing Markets”, President said: "In a world that is increasingly complex, where markets and economies seem to be in a constant state of uncertainty and turmoil, the only geographical area that appears to be somewhat stable is the Asia and the Pacific region. In fact, today, it is the Asian and Pacific economies that are universally accepted as playing the key role in global growth and stability."
Asia’s fast growth track is also evident from many of its indicators that we see at present. But, we must appreciate that this continuous transformation would not take place unless the Asian nations continue to take the right steps. That is why the current political and economic leaders have a great responsibility in guiding the Asian nations to prosperity, in a sustainable path, President added.