ICC pledges support for Sri Lanka’s reform drive to address debt crisis

ICC Chairperson Maria Fernanda Garza ringing the bell at the Colombo Stock Exchange (CSE) signaling the opening of trading yesterday 

• ICC Chairperson Maria Fernanda Garza reaffirms commitment during her visit to Sri Lanka
• Tells Sri Lanka to focus on building a stronger, more resilient, and inclusive economy through reforms
• Urges Sri Lanka to bolster trade capacity through trade facilitation reforms, digitisation and  developing local skills and capacity for international trade

The International Chamber of Commerce (ICC) has pledged its commitment to support Sri Lanka in its domestic reform programme, with the aim of swiftly resolving the current debt crisis while minimising the impact on people. 

ICC Chairperson Maria Fernanda Garza, who is currently in Sri Lanka, affirmed the Chamber’s dedication to assisting Sri Lanka in this endeavour.
“While looking into the future, I hope there is an opportunity to chart a programme of domestic reforms capable of building a stronger, more resilient, and inclusive economy. Please be assured that the ICC stands ready to work with you in pursuing this call,” she stated during a market opening ceremony at the Colombo Stock Exchange (CSE) yesterday.
Garza acknowledged that the reform effort would be a multi-year process and highlighted the micro-level opportunities to enhance trade and small businesses as drivers of productivity and job creation. She also emphasised Sri Lanka’s potential to bolster its trade capacity, thereby bringing the benefits of international commerce to smaller enterprises.

To achieve this goal, she outlined three key areas of focus, including the implementation of common-sense customs and trade facilitation reforms, the digitalisation of trade processes, and the need to invest in developing local skills and capacity for international trade. 

Garza further emphasised ICC’s commitment to working in Sri Lanka through its World Chambers Federation on capacity-building skills related to export documentation.
“I hope Sri Lanka can utilise the wealth of expertise that ICC has to offer the private sector, providing the skills and knowledge that companies and entrepreneurs need to enter the global market. I hope you see ICC as a vital partner in the journey ahead to create a stronger and more vibrant Sri Lankan economy,” she remarked, noting that Sri Lanka’s rich human capital, heritage, and business culture present significant opportunities in a highly competitive global economy.

ICC chief visits Lakarcade

ICC Chairperson Maria Fernanda Garza yesterday visited the Lakarcade flagship showroom on Staple Street during her official visit to Sri Lanka. Accompanying her were Shanil Fernando, Chairman of ICC Sri Lanka, and Hemakumara Gunasekera, Secretary of ICC Sri Lanka. Garza was warmly welcomed by Anil Koswatte, the Managing Director/CEO of Lakarcade upon her arrival.