Sri Lankan diplomats to adhere to economic diplomacy, says Harsha
The new government will be soon directing Sri Lankan diplomats in missions abroad to re-channel their efforts, energies and resources to improving the country’s commercial interests worldwide. Newly appointed Deputy Foreign Minister Dr. Harsha de Silva, an eminent economist turned politician, laid out a new strategic direction last week for the country’s foreign service called “economic diplomacy,” a plan that is designed to put trade and commerce at the helm of foreign policy.
Deputy Foreign Minister Dr. Harsha de Silva
The aim is to improve the country’s declining trade and investment performance which is the key to the future prosperity of the people, he told the Business Times in a phone interview a few hours after assuming duties at the ministry last week. Accepting the new deputy ministerial portfolio as a good opportunity to transform the foreign policy to a key mechanism for achieving productive economic and trade relations at bilateral and multilateral levels, he said that economic diplomacy could be used in four ways: expand exports, bring in investments, boost growth and take Sri Lankan firms abroad.
Liberalising trade, boosting economic growth, encouraging investment and assisting business will be his targets under the new initiative, he said. Sri Lanka’s exports have fallen to about 15 per cent of GDP at present from 35 per cent over a decade, he revealed. Today, comprehensive tools are being developed for promoting trade and economic diplomacy, he said, adding that plans have been devised for the attraction of investments, development of special economic zones and export promotion, while a national export strategy is also being developed.
The economic diplomacy agenda builds on the portfolio’s long-standing work liberalising trade, supporting global growth, promoting investment and advancing the interests of business overseas. “It leverages our strong international networks, and our trained staff,” he opined.
To attract foreign direct investments measures will be taken to use state apparatus, diplomatic missions and state agencies, he said. A system is to be devised making each line ministers, ambassadors and persons responsible for the attraction of foreign investments.
The Ministry of Foreign Affairs acts through a network of foreign missions abroad as a first contact point as well as a link between the foreign business community and local partners in the island, he revealed. He pointed out that this network of foreign missions abroad will be used to improve economic relations with other countries.
Many people have been disappointed as Dr.de Silva was not given a portfolio directly connected finance or the economy where his strength is, but he said that he would be able transform the country’s economy for the benefit of the people by the proper implementation of economic diplomacy through the foreign ministry.