Exclusive Thai- S Lanka park at Horana Industrial Zone
Plans are underway to set up a joint Thai -Sri Lanka industrial park on a 600 acre estate in Horana which will be the first industrial zone to be set up in recent times where Japanese, Chinese and others will set up 200 factories.
“We hope to sign a MOU in about two months’ time, ” said the State Minister of International Trade Sujeewa Senasinghe who was the Chief Guest at the launch of Thailand Week 2017 held at the BMICH on July 7-9 July. The event was organised by Lanka Exhibition and Conference Services (Pvt) Ltd.
The Minister said that the Sri Lankan government hopes to sign five Free Trade Agreements with China, India, Malaysia, Thailand and Singapore to boost trade among these countries. He said although the per capita income of Sri Lanka was below that of Thailand the advantage that Sri Lanka has was that it could pick up and run being a small nation.”We are going to open a market for many in the country following the signing of the Free Trade Agreements. We also have strength following the Silk and Belt Route initiative by China which is going to be the second biggest investor.” He said Sri Lanka’s location was important as sea transportation in the world has improved over the years. “We are trying to develop Hambantota Port further for big ships to berth in. We also have the world’s fourth biggest natural harbour in Trincomalee and we are trying to make Sri Lanka the gateway to South East Asia and even South Asia,” he said.
Referring to Sri Lanka’s history, the Minister said the country lost nine of its able political leaders during the unfortunate civil war but the time has now come for it to recover and run fast. He said the ties between Thailand and Sri Lanka has remained warm for a long period of time owing to religious ties and look forward to strengthen that in the years to come. He also said the country is at a crucial time and it took one and a half years for the government to put a solid platform for the country’s development. “People do not understand when we took over a bankrupt country about one and a half years back.” As for China’s investment in Sri Lanka, he said 3000 acres have been earmarked in Hambantota, around 7000 in Moneragala and 2000 in Galle. Another 2000 acres will be allocated in the Kalutara, Kandy, Kurunegala and in the East as well. He said he was surprised how the country functioned during the past 20 years without engaging in any kind of manufacture whereas other countries such as Malaysia and Singapore and Thailand have manufactured electronic items for export.”We want Sri Lanka to be a manufacturing hub. In fact (billionaire) George Soros of Harvard University has given us US$5 million to develop our economic infrastructure.”
Commercial Counselor, Director of the Thai Trade Centre, Chennai, Ms Jittima Nakamano said it was the first time that the Thailand Week Trade Fair was held in Colombo. She said Thailand Week showcased a variety of lifestyle products from Thailand.”We have 35 exhibitors presenting premium products like home décor, health, beauty products, food and beverage, household products in fashion and fashion accessories, furniture, spa products including hotel supplies and much more. We want to increase bilateral trade between the two countries by 2020. We also want to invest in trade and investment in infrastructure projects, construction work, agro industry, in fisheries, tourism, etc.”
The balance of trade between the two counties remains favourable to Thailand. Sri Lankan exports to Thailand was valued at $35 million whereas Thailand’s exports to Sri Lanka was valued at $548 million in 2016. Sri Lanka’s main exports to Thailand were precious stones, cloves, tea, activated carbon, electrical items, etc. Exports from Thailand to Sri Lanka included dry fish natural rubber, beet sugar, motor vehicles, etc.