CII Communique - October, 2010

eportgave an overall picture of Sri Lankan economy,Indo – Sri Lanka economic relations andopportunities for furthering economic cooperationbetween the two countries. The Government ofIndia has provided about US$ 1 billion line ofcredit for the infrastructure development projectsincluding railways and transmission lines in SriLanka.The CII delegates also had meetings with Mr BasilRajapaksa, Minister of Economic Development; DrSarath Amunugama, Deputy Minister of Financeand Planning; Mr Rishad Bathiudeen, Ministry ofIndustry and Commerce; Board of Investment ofSri Lanka; Dr. Sunil Jayantha Nawaratne, Secretary,Ministry of Higher Education and Dr P B Jayasundera,Secretary, Ministry of Finance and Planning. TheMinisters and Government officials reiterated thatthis was the right time to invest in Sri Lanka as thecountry has political stability, conducive environment,growth rate of 8.5 % which has doubled in the pastfive years, controlled inflation, and low unemployment.They highlighted infrastructure, tourism, IT/BPO, training,education, healthcare, renewable energy, shoppingmalls, agriculture/ poultry/ livestock etc as key areasfor co-operation.The Mission also met CII’s MoU partner, the CeylonCIS & RussiaKazakhstanCII organized an India Kazakh Business Forum on 23September in New Delhi, with a 20 member delegationfrom KAZNEX INVEST, the National Agency for Exportsand Investments, Republic of Kazakhstan, led by Mr.Meierzhan Maikenov, Deputy Chairman, of the Agency.The delegation comprised of representatives fromgovernment agencies, industry, trade and agriculturalsector of the Republic of Kazakhstan.The Forum was attended by about 60 industry membersfrom CII. The visitors made presentations on theopportunities in Kazakhstan for business. Individualcompany presentations were also made. Mr K KSinha, Head Investment Promotion and InternationalCooperation, DIPP, made a presentation on the investmentpolicies of India and invited Kazakh businessmen toinvest and seek joint ventures in India.Ambassador V B Soni, Chairman, Infrastructure AlliancesLtd, who chaired the meeting, emphasized on the variousavenues for cooperation to enhance bilateral trade andCII Mission members in Sri LankaChamber of Commerce (CCC), followed by B2B meetingswith leading Sri Lankan companies.CII suggested a 7-point agenda to the CCC, whichincludes Ajay Bisaria, Jt Secretary (ERS), Ministry of External Affairs, India;Amb. Doulat Kuanyshev, Kazakhstan Ambassador to India;M Maikenov, Dy Chairman, Kaznex Invest and Amb. V B Soni,Chairman, Overseas Infrastructure Alliances Private Ltdbusiness cooperation between India and Kazakhstan. Hepointed out the benefits of engaging with Kazakhstandue to its attractive investment and trade policies.Mr Ajay Bisaria, Joint Secretary (Eurasia), Ministry ofExternal Affairs, gave an overview of the Indo-Kazakhrelations, both economic and geopolitical, and spokeabout the government to government initiatives beingtaken to enhance and strengthen relations between thetwo countries.60 | October 2010 Communiqué