Sri Lanka’s strategic positioning on the key sea route has made it realise the importance of carrying out port expansions than most others, an international shipping expert said.
Asserting the importance of port expansions as trade is a constant positive that continues to grow, International Association of Ports and Harbours Vice President Grant Gilfillan who is also the CEO of the Sydney Ports Corporation, Australia said, “Sri Lanka understands it better than most because of the strategic position in trade with India and China.”
He was addressing the inaugural session of the 2th IAPH Asia/Oceania Regional Meeting and Port Forum held in Colombo at the BMICH on the theme “Global Challenges – Impact on Asia/Oceania Region.”
He noted that the country is doing “whatever it takes” to be a regional hub and spoke of the key port projects of the Colombo Port Expansion Project (CPEP) and the Hambantota Port development projects and their prospects for the future.
Mr. Gilfillan commenting on the outcome of the third phase of the Hambantota port project, which would be able to accommodate upto 33 ships in all berths on a stretch of 11 kms, said “that’s what I call planning for the future.”
Speaking on the movement of trade between the West and the East, he noted in the future South Korea would replace the UK while China was likely to overtake the US in four years in world trade.
He predicted that in view of the rising oil prices it was likely that Iran would buckle under international pressure and would allow oil prices to fizzle out.
International Monetary Corporation Senior Minister Sarath Amunugama addressing the gathering read out President Mahinda Rajapaksa’s message as the latter was “indisposed.”
The President in his message highlighted that the participation and conduct of this conference was an indication that “you are not diminished by false propaganda against development in Sri Lanka.”
In this respect, he pointed out they were a strong voice for Sri Lanka and urged them to carefully study the progress made so far asserting that “Sri Lanka is open to business.”
The President also invited the participants to witness this growth and the potential available in Sri Lanka for increased investment.
Opening the first port forum session of the discussions Central Bank Governor Nivard Cabraal speaking on the topic “Opportunities for Regional Trade Amidst Current Global Challenges” said it was evident that lately there has been a steady improvement in Asia’s contribution to overall world GDP.
“We are in the right direction and the Asian economies are better shaped today than ever before,” he said.
Dubai Logistic City Independent Strategic Advisor Michael Proffitt observed that in today’s context while most developed nations were struggling to perform, the emerging nations have a strong growth.
It was believed that should the two economies of Asia and Europe have issues then it would certainly impact with inflation being a key concern mainly for India and China.
The two-day forum concluded on Friday with the participation of 25 countries including India, Pakistan, China, Bangladesh, Maldives, Australia, Brunei, Papua New Guinea, the Philippines, Saudi Arabia, Singapore, the UAE, Fiji, Indonesia, Iran, Japan, South Korea, Malaysia, Myanmar, New Zealand, Oman, Vietnam, Thailand and Kuwait. |
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