With the gamut of Free Trade Agreements signed and under negotiation, Sri Lanka’s interests should be looked carefully, president-elect of Ceylon National Chamber of Industries (CNCI), Kevin Edwards told guests at th 63rd AGM of the National Chamber at Taj Samudra on Friday.
“We see that the future of Sri Lanka’s industries will be very competitive. We will have to strive hard to be competitive in the world market. Hence FTA’s are welcome but should be negotiated in a professional manner with Sri Lanka’s interests in mind.”
“Sri Lankans and the Sri Lankan industrial sector, has gone through a very turbulent period with high cost of utilities, a devalued Sri Lankan rupee compelling us to increase wages to be in line with the cost of living and stiff competition with grey imported goods sold at very low prices.
“It is regrettable that Sri Lanka’s business community has to bear the burden with high corporate taxes.
“We, hope that with the recent statement made by the President Ranil Wickremesinghe that the tax structures have been renegotiated with the IMF, will include corporate taxes, while a business-friendly corporate tax structure will always attract FDI’s.”
Shantha Weerasinghe, Secretary Ministry of Industries was the chief guest.
