TCBC President Reyaz Mihular (Second from left), Minister Kabir Hashim (c) and TCBC CEO and General Secretary Murat Hezretov are seen together during the event. 
Pic by Kushan Pathiraja 

By Lahiru Pothmulla
Sri Lanka can learn lessons from Turkey when improving and stabilizing its economy, as Turkey has proven that it can stand unaffected by global economic crises, Public Enterprise Development Minister Kabir Hashim said. 

“Turkey is a great success story. We have important lessons to learn from them and we should create opportunities for Turkish investments in Sri Lanka. 

We are still competitive in certain areas in trade and the potential for Turkish investors in Sri Lanka is huge,” the minister told the Professional Business Guidance Presentation organized by the Turkiye Ceylon Business Chamber (TCBC) in Colombo last Thursday. He said Turkey is considered an ‘economic miracle’. “At a time other countries, mostly the Europeans were engulfed in the economic crisis during the last decade Turkey was unaffected. “Turkey launched a massive financial programme in 2001. 

It had a change of government and the new Prime Minister did huge reforms.  At a recent economic programme held in Harvard University, the lecturers used Turkey as their example to show how successful that country was amidst the crisis,” he said. Hashim said the two countries which have a long-term relationship, should look at investment opportunities in both countries and how to support each other’s businesses.

Commenting on the government change here, he said the country’s policies kept changing frequently ‘like dresses’ in the past and the new government was committed to create consistent policies to ensure an investor-friendly atmosphere in the country. “What we need is an investor-friendly country. We need to create an environment where people can do trade without fear. This is why we are sending study teams to other countries to learn how they have done. We are inviting investors for investment opportunities in Sri Lanka not only at traditional sectors but in new sectors and products such as technology, bunkering and ports,” he said.  

The Professional Business Guidance Presentation was held under the theme ‘Recent developments in Sri Lanka’s tax regime’, presented by KPMG Tax Partner Suresh Perera. 

Addressing the event, TCBC CEO and General Secretary Murat Hezretov said there were about 150 Turkish originated business chambers across the globe and TCBC was different from other business chambers. “We facilitate business ethics, information and network for strong business relationships,” 
he said. 

Meanwhile, TCBC President Reyaz Mihular said, Turkey was in a ‘happy marriage’ with both Asia and Europe and Sri Lanka can benefit a lot from that country. “There is an Asian and a European side to Turkey. It has taken the best of both sides. Sri Lanka and Turkey can do a lot in business partnerships and we can benefit a lot not only from business investments but also from Turkish tourists,” he added.