Minister of Development Strategies and International Trade, Malik Samarawickrama on Friday, told a group of chamber and business representatives that the private sector should be vocal about issues of national interest such as economic policy reforms and trade openings.
“You have a valuable and strong voice. You can use it to advocate for important things – economic policy reforms, trade opening, and issues of national interest. It is important to be consistent, and not selective, in the issues you advocate on,” he said. He was speaking at the launch of the Bilateral Trade and Investment Report compiled by the Council for Business with Britain (CBB) and the Economic Intelligence Unit of the Ceylon Chamber of Commerce.
Referring to recent exchanges between the Ceylon Chamber of Commerce and the Government the Minister said, “while I acknowledge that Chambers must continue to advocate on national issues and hold government to account, I would urge you to be consistent in your advocacy, and not selective.”
“No doubt the private sector should be vocal about issues of national interest. Especially when in the past the private sector was largely silenced on issues of national interest and weren’t given the freedom to voice their views, under a regime that provided no space for democratic debate and would punish those who were vocal in their opposition. If you were a journalist you would disappear or pay with your life, and if you were a business leader you would lose deals and pay with your profits.
“If you care about national interest, then you should also care about trade liberalization. Currently we have a protectionist trade regime that benefits a few hundred firms at the expense of millions of consumers and households. We haven’t seen the Chamber being very vocal about that and advocating publicly to change this dynamic. National interest is also about ensuring prosperity for the many and not the few. National interest is also about opening ourselves to the world so that we don’t get left behind and wither away into irrelevance,” he said.
“If you care about national interest,you should care about the new Monetary Law Act that is at risk of being scuttled. I haven’t heard the Chambers say anything about it. The new Monetary Law Act brings greater independence to the Central Bank, reduces the chance for fiscal dominance of monetary policy, and helps build a more stable interest rate regime that will support businesses. An independent Central Bank, better inflation management, these are also in the national interest. Stand up for it. Help to galvanize private sector support.”
“We may not get it right 100 percent of the time, but at least you can be assured that we are genuine in our intent. And we ask the same of the Chambers,” he said.
0 comments: