Malik meets with WEF on eve of Davos Summit

Development Strategies and International Trade Minister Malik Samarawickrama during a two day visit to Geneva recently met with Borge Brende, President of the World Economic Forum (WEF) and senior officials engaged in areas relating to Sri Lanka.

The visit of the minister took place as a continuation of Sri Lanka’s engagement with the Forum facilitated by the Sri Lanka’s Permanent Mission in Geneva, on the eve of the 2018 Davos Summit, which will take place from January 23rd to 27th2018,where the WEF Annual Programme takes shape.

Sri Lanka’s Permanent Representative to the UN in Geneva Ambassador Ravinatha Aryasinha, Sri Lanka’s Permanent Representative to the WTO Ambassador R.D.S. Kumararatne, Development Strategies and International Trade Ministry Agency for Development Managing Director (Designate) Mangala Yapa and officials of the Mission were  associated in these meetings.

During the meetings on January 4th and 5th, the two parties agreed to explore the possibility of hosting an ‘Investment Round Table’ in Sri Lanka in the near future. Borge Brende, who was the former Foreign Minister of Norway recalling his interactions with Sri Lanka, assured to work closely with the government to strengthen cooperation between WEF and Sri Lanka.

The minister also held discussions with senior WEF officials on the areas of trade facilitation, future of production, private sector engagement and Sustainable Development Investment Partnership (SDIP). The possibility of embarking on collaboration between the WEF and Sri Lanka in the areas of focusing on sustainable production in apparels and textiles, upgrading the tourism sector, strengthening ICT related industries and making the agriculture sector more productive was also discussed. It was also agreed to explore avenues under SDIP initiative, which is a joint initiative of the World Economic Forum and the Organisation for Economic Co-operation and Development (OECD), in order to establish investment partnerships relevant to Sri Lanka’s interest, in particular in the area of transportation and connectivity. It was also considered on having contacts with experts in relevant areas on both sides on a more regular manner, to exchange views and to follow up on developments.
During the visit the minister also had a bilateral meeting at the Permanent Mission, with the representatives of the ‘Global Alliance for Trade Facilitation’ programme and it was agreed to consider a cooperation agreement to implement a ‘Multi-Country Consolidation hub’ in Sri Lanka, under the ‘Global Alliance for Trade Facilitation’ programme, leveraging on Sri Lanka’s high potential to become a trade hub in the Indian Ocean and bolstering investment opportunities. Launched at the WTO 10th Ministerial Conference in 2015, the Global Alliance for trade facilitation is a public-private platform that leverages business expertise, leadership and resources to support effective trade facilitation reforms that foster broad-based opportunity and economic growth in both developing and least developed countries.

Sri Lanka’s engagement with the World Economic Forum gained much momentum following the participation of Prime Minister Ranil Wickremesinghe at the World Economic Forum (WEF) Annual Summit in Davos in January 2016 which was the first formal visit of a Sri Lanka leader to the WEF Summit on a special invitation, and subsequently in 2017.

Following Dr. Philipp Rosler, the Head of the Centre for Regional Strategies and member of the WEF Managing Board visiting Sri Lanka in July 2016, marking the first official visit by a WEF representative to Sri Lanka, several WEF delegations have visited the country. Sri Lanka’s Deputy Permanent Representative to the UN Samantha Jayasuriya, First Secretary (WTO) Tharaka Botheju and First Secretary (UN) Mafusa Lafir, were also associated with the minister. Helena Leurent, Head Government Engagement and Member of the WEF Executive Committee, Philippe Isler, Director, Global Alliance for Trade Facilitation, Philip Moss, Head of Sustainable Development Investment Partnership, Indira Kithsiri, Community Specialist, India and South Asia, and other WEF officials participated in the meetings from the WEF side.