Look Out!

Chief Regulatory Officer at CSE Renuke Wijayawardhane presenting the listing certificate to Executive Chairperson at Renuka Hotels Shibani Thambiayah

Service providers from other countries are already banging at Sri Lanka’s door, whether local services providers are ready for foreign competition or not. Service providers from other countries are already banging at Sri Lanka’s door, whether local services providers are ready for foreign competition or not. “We have already got 15 offers for various service sectors from different countries,” the Commerce Department told Lanka Business Online.

Many of these offers under the GATS (General Agreement on the Trade in Services) are for Sri Lanka to open up professional services like accountancy, architecture and construction, to foreign service providers.

Now the government is talking to local professional bodies to see what sectors can be opened up in future and to what extent.

“We have made specific provision for professional services like accountancy, architecture and construction services since we would liker those involved in these areas to be involved in future national policy issues concerning liberalisation of such sectors,” said K Weerasinghe, Director General of the Commerce Department.

Weerasinghe was addressing a gathering of p