Nov 08, 2013 (LBO) – Sri Lankan firms have to first compete in the home market and win customers to be able to export to foreign buyers, the head of a powerful business chamber in the country said. Suresh Shah, head of Sri Lanka’s Ceylon Chamber of Commerce said to win large foreign markets innovation, technology and good quality was needed.
“Is the Sri Lankan private sector ready to compete in these segments?” he asked at the 50th LBR-LBO CEO forum, attended by top business leaders in the country, speaking on behalf of the poorest consumer in the country instead of batting for rent seeking businesses.
“And to me when I look at some pointers I think the answer is not really. The reason I say this is that in general Sri Lankan private sector prefers the protection safeguards, which means we do not get the opportunity to compete with imported products to start with.
“If you can’t compete in your home market, how do you expect to compete in export markets?”
Critics say rent-seeking Mercantilist and nationalist businesses are using the coercive the power of the state and the midnight gazette to rob the trade liberties of citizens and earn super profits. The less affluent are particu