Sri Lanka to become member of APEC

By Yohan Perera  

President Ranil Wickremesinghe discussed on Sri Lanka joining Asia –Pacific Economic Cooperation (APEC) with the Singaporean leaders, during his visit to the South East Asian Nation, Presidential Advisor Ashu Marasinghe said yesterday.   

Marasinghe told a media briefing that Sri Lanka will have the opportunity of venturing into a large market if it becomes a member APEC.   

APEC was established in 1989 in response to the growing interdependence among Asia-Pacific economies and the advent of regional trade blocs in other parts of the world. Its primary purpose is to promote sustainable economic growth and prosperity in the Asia-Pacific region. Singapore was a founding member alongside 11 other economies.  

“The President is spending time stabilizing the country’s economy and trying to seek regional markets for Sri Lankan goods and services while the opposition is spending its time trying to choose presidential candidates. One has to think of elections only after stabilizing the economy and ensuing that economic down turn is not repeated,” he said.   

“President had stressed that all parties should get together in stabilizing the economy and this collective effort of all parties is a must,” he added.   

“ Plans are afoot to purchase fuel and gas till 2025 and there will be no queues and shortages like it was in the past,” he also said.