 CBF to attract huge economic benefits
By Lalin Fernandopulle
The Commonwealth Business Forum (CBF) will bring in enormous economic
benefits to Sri Lanka enabling it to market its expertise to the
international community, Commonwealth Business Council, Chairman, Dr.
Mohan Kaul told the media regarding preparations being made to hold the
CBF in Colombo next month. “Our Association is overwhelmed by the
tremendous response Sri Lanka has received from Commonwealth and non-
Commonwealth countries for the Commonwealth Heads of Government Meeting
(CHOGM),” Dr. Kaul said.
Many heads of state, foreign ministers and business delegates have
expressed satisfaction on the preparations for the forum and have wished
Sri Lanka success at the event. Delegates from 65 countries are due to
attend the CBF. The central theme of the Commonwealth meeting chosen by
Sri Lanka is 'Economic Development with Social Equity'.Dr. Kaul said
that Sri Lanka had already received expressions of interest to the tune
of around US $ two billion for businesses and investments in aviation,
ports, airports and energy sectors. The CBF will bring together the
private sector of Sri Lanka and other countries to collaborate on joint
ventures and promote Sri Lanka as a destination for trade and
investments. The CBF will help Sri Lanka to promote its expertise and
exchange agreements for collaborative ventures with other countries.
Business leaders from Canada, USA, Australia, Middle East and Africa
are expected to attend the CBF. The highest number of participants will
be from the USA.
“We expect a large and successful business forum with one-on-one
business meetings. Our Association is working closely with the Board of
Investment in Sri Lanka to promote investments with business leaders
from Sri Lanka and overseas,” Dr. Kaul said.
The CBF 2013 is jointly organised by the Government and the
Commonwealth Business Council (CBC) in collaboration with the private
sector. It will be held November 12-14 in Colombo.
From an international perspective, the CBF performs several functions
such as helping business sectors in member nations to learn of new
investment opportunities, providing a platform for government and
business leaders to network with each other and conduct business with
international partners and Commonwealth countries to collaborate on and
collectively influence global trade and investment issues.
Dr. Kaul said that many foreign business delegates will bring
investment proposals to Sri Lanka on sectors such as energy, ports and
aviation, tourism, information technology and pharmaceuticals to build
private-public partnerships.
The non-participation of the head of state of Canada could have an
impact on the Commonwealth Fund, Dr. Kaul said.
The Canadian Prime Minister Stephan Harper has confirmed his
non-participation in the Commonwealth Heads of Government Meeting in Sri
Lanka.
External Affairs Minister Prof. G.L. Peiris said that Sri Lanka was
disappointed over the stance of Canada.
“The CBF will be an opportunity to promote Sri Lanka as a hub for
power and energy, ports and aviation, shipping and IT.
Delegates from around 53 countries will be attending the forum,” he
said. “The forum will have a practical and pragmatic approach to bring
tangible and substantial benefits to the country. Many country heads and
foreign ministers have expressed appreciation of the theme chosen for
the CBF as one that is relevant and topical,” the Minister said |
