Emerging Sri Lanka with a renewed focus on SAARC
The South Asian markets are of considerable importance within the context of global markets, as they are seen as fast and emerging markets, with vast growth opportunities. Inspite of the economic downturn in most economies, SAARC economies grew, way above the global average growth rate of 4 percent, at an average growth rate of 6 percent in 2011 and are slated to continue and grow at an average growth rate of 6 to 6.5 percent in 2012.
Reducing tensions & change in political climate amongst neighboring states, Agreement to lower tariff and non-tariff barriers, reduction in the sensitive lists for tradable goods, streamlining cumbersome border and customs procedures, Seamless trade and transit connectivity in South Asia & linking up with markets of South-East, East, and Central Asia will improve opportunities in the region.
Sri Lanka, after the civil conflict, has become a safe haven for foreign investors; With It's Per capita GDP having doubling in last 5 years and expected to double again in the next five years, New & Liberalized Trade reforms & less barriers, Strategic location with good air/sea connectivity, High Knowledge base with a literacy rate of nearly 93 percent, Significant decline in unemployment rates and a low inflation rate, The Lion’s Den is likely to continue to generate interest and be on the investor’s radar for the next couple of years.