Sri Lanka’s north lagging in GDP growth despite improved business environment
Sri Lanka’s northern region hasn’t grown as expected in the post-conflict 2009 era and local businesses are hoping trade fairs like the Jaffna International Trade Fair (JITF) 2017 would help drive more interest.
This was stated at a media briefing in Colombo this week chaired by Rishard Bathiudeen, Minister of Trade and Commerce to promote the JITF which is to be held on January 27-29, 2017 at the Jaffna Municipal Grounds, the eighth in this series.
The minister conceded that the Northern Province contribution to the national GDP is considered to be the lowest at US$2.6 billion while the Western Province stands tall at $33 in 2015. He indicated that given the opportunity and other necessary assistance the north could become an equal partner in the contribution to the national GDP and in the greater attempts to uplift the economy of the country.
V.K. Vignesh, Chairman, Chamber of Commerce and Industry Yalpanam (CCIY) said that the northern business community is not really satisfied with their contribution to the national GDP and yet he assured that they are ready to offer their best to increase this contribution to the national GDP and the running of the JITF consecutively since 2010 successfully is one bold step forward towards achieving this end.
He said for the first time a Tamil Nadu trade delegation of 75 members would be participating in the JITF 2017 while around 300 stalls will be operative, a 40 per cent increase over the previous year.
He said that the province is well poised to become a major partner in the economic uplift of the country with railway and highway connectivity with the other provinces of the country.
He said that the massive infrastructure development currently underway in the region has also paved the way for many investment opportunities in the region which could not be afforded previously. A special 75 member delegation from the Associated Chamber of Commerce in India will be visiting the event to look at investment opportunities and investment.
JITF 2017 is organised by Lanka Exhibition & Conference Services (Pvt) Ltd
(LECS) in association with the CCIY, Jaffna Municipal Council, Sri Lanka Convention Bureau and International Business Council.