Constitutional Affairs and Industrial Development Minister, Professor G. L. Peiris, left for New Delhi last Friday to attend the World Economic Forum — "India Economic Summit 2000" commencing today at the Taj Palace Hotel. The Summit is a collaborative effort of the World Economic Forum (WEF) and the Confederation of Indian Industry. It is South Asia’s most important gathering of regional and international heads of government and entrepreneurs. This year’s Summit brings together business and government leadership from South and South East Asia, the Americas, Europe and the Middle East.

The Summit will focus on India’s and the South Asian region’s economic agenda and the priority areas of development and growth with equity. Some of the areas that will receive emphasis are: banking, privatization, insurance, the relationship between government, business and civil society, WTO, corruption, intellectual property, infrastructure development, agriculture, IT, e-commerce and e-finance, bio-technology, tourism and energy.

Minister Peiris will address in the Summit’s plenary session tomorrow on the theme "Beyond Cooperation: What is Next in Global Networks?". The session will also include Omar Abdullah, the Indian Commerce and Industry Minister, Supachai Panichpakdi, the Deputy Prime Minister and Commerce Minister of Thailand, George Yong-Boon Yeo, Minister of Trade and Industry of Singapore and will be moderated by Tommy Koh, Singaporean Ambassador at Large and Executive Director of the Asia Europe Foundation.

The Minister’s presentation will focus on South Asian integration in the context of SAARC. Professor Peiris has also been invited to make a presentation on Sri Lanka’s perspective on entering the Indo-Lanka Free Trade Agreement and what is expected to be achieved by this regional partnership. The other participatnts which will centre on the "FTA — South Asia Focus" will include Subodh Bhargava of the Eicher Group in India, Thilan Wijesinghe of the BOI, Prabir Sengupta, Secretary to the Indian Ministry of Commerce and Industry and will be moderated by Mano Selvanathan of Carson & Cumberbatch Group, Sri Lanka.

During the visit, the Minister is also expected to hold talks with Indian Premier Atal Behari Vajpayee, Union Ministers Omar Abdullah and Yashwant Sinha, Chandra Babu Naidu, Chief Minister of Andhra Pradesh, Indian business leaders and government officials as well as the Indian media. Sri Lanka will derive considerable benefit from the Summit as a result of the Worldwide publicity for the FTA and the promotion of opportunities to enter Indian markets through greater investment in Sri Lanka in addition to the contact with CEO’s and corporate heads from India and the world and the government to government exchanges expected to take place during the meeting.

An ideal opportunity to follow up on the successful meeting of the Indo-Lanka Joint Economic Council, held in August will also be provided at this Summit. The Sri Lankan government delegation will be led by Minister Peiris and will comprise of the Chairman/Director General and officials of the BOI and the business delegation will include leading Sri Lankan businessmen.