The Hindu : Sri Lankan PM calls for single regional market

Online edition of India's National Newspaper
Sunday, Aug 24, 2003

National

National

Sri Lankan PM calls for single regional market

By Our Special Correspondent

Photo: Vino John

The Sri Lankan Prime Minister, Ranil Wickremesinghe, with M.S. Swaminathan and the Editor-in-Chief of The Hindu, N. Ram, at the Millennium Lecture organised by The Hindu Media Resource Centre for Sustainable Development, MSSRF, Chennai on Saturday.

CHENNAI AUG. 23. The Sri Lankan Prime Minister, Ranil Wickremesinghe, today called for the development of the South India-Sri Lanka sub-region as a single market that would provide more opportunities for the economic growth of both countries, in the context of the emergence of a global economy in which markets increasingly transcend political borders.

Delivering the Millennium Lecture organised here by The Hindu Media Resource Centre for Sustainable Development, M.S. Swaminathan Research Foundation, he said: "The world has changed and integrated, regional markets are fast becoming the means for economic and political success." Old policies of government intervention to protect domestic markets no longer worked, and protectionism was doomed to fail in the new economy.

Sri Lanka and India, working as an integrated market, offered strong opportunities for potential investors. "As trade and investment barriers between India and Sri Lanka come down, we can expect that for a great many industries, the core market will be defined by South India and Sri Lanka," the Prime Minister said. The immediate benefits from the Comprehensive Economic Partnership Agreement will be realised in the States that are proximate to Sri Lanka, particularly the southern States of India," he added.

A bridge between Rameswaram in Tamil Nadu and Talaimannar in Sri Lanka could be one of the final steps in this process of integration. Since such a bridge would create road and rail links, it would be a major step towards sub-regional economic integration and offer both sides of the Palk Strait huge economic benefits. This was compatible with the Sethusamudram project which would provide both countries greater access to the sea lanes. South India was likely to be considerably more competitive in export manufacturing than is Sri Lanka, he added.

There were opportunities for exchanges between Sri Lanka and India in areas such as technical education and information technology. The tea business, apparel manufacturing and tourism were areas where Indian and Sri Lankan industry could cooperate. In the matter of infrastructure, ports and power held potential for cooperation.

India and Sri Lanka could cooperate in the area of power if an electrical grid stretching from Nepal to Sri Lanka was established. Surplus nuclear power from Tamil Nadu could also be exported to Sri Lanka.

The Prime Minister highlighted the need for growth in tourism to create more rural jobs. In Sri Lanka, there was increased tourist interest in experiencing life in the tea plantations. But the challenge lay in improving tourism without spoiling the environment or culture, he said.

The Editor-in-Chief of The Hindu, N. Ram, said Mr. Wickremesinghe had grabbed with both hands the opportunity to strengthen Sri Lanka's relations with India, and South India in particular, in every sphere. He described Mr. Wickremesinghe as a "man with a vision" and President Chandrika Kumaratunga as a leader with a striking vision and sense of history. He hoped that the two visions would not merely cohabit but somehow find a way of working together in the larger interest of the Sri Lankan people and the peoples of the region.

Mr. Ram said that Mr. Wickremesinghe saw the mandate of his Government as one that involves delivering in three critical areas. The first challenge was to lay a foundation for lasting peace in a divided nation. The second was to rebuild the economy. The third was to resolve the problems of a deeply divided political society. Mr. Ram wished Mr. Wickremesinghe success in the context of all the three challenges.

The Chairman of the M.S. Swaminathan Research Foundation, M.S. Swaminathan, commended the ideas put forward by the Sri Lankan leader. He said that the South Asian region had some tremendous strengths and "we need to build on this capital" in order to end the dichotomy of poverty of the people and prosperity of resource.

Prof. P.C. Kesavan, Executive Director, MSSRF, explained the activities of The Hindu Media Centre towards promoting dialogue on crucial issues that concern technology and development.

Printer friendly page
Send this article to Friends by E-Mail

National