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The Asian Development Bank (ADB), with support from the Government of Sri Lanka, presented findings from the interim report of the Comprehensive Development Plan of the Colombo-Trincomalee Economic Corridor (CTEC) Study to senior government officials at a high-level meeting on 26 April 2017 in Colombo, Sri Lanka.

The report included findings from industry value-chain analysis, node readiness assessment, infrastructure assessment at the corridor level, and regulatory and institutional frameworks to identify interventions needed to support effective functioning of the corridor. The study highlighted that strong high-level commitment to economic corridor development strategy at all levels of Government and engagement of the private sector at the earliest possible time are important aspects in moving the CTEC forward.

The Export-Import Bank of Korea and the Government of Korea’s Knowledge Sharing Program, the knowledge partner in the CTEC study, also joined the consultation meeting and provided recommendations on how Sri Lanka can attract more foreign direct investment and improve medium-sized enterprises.

The meeting was chaired by Mr. R. Paskaralingam, Senior Advisor to the Prime Minister. Mr. Shantha Bandara, State Secretary, Ministry of National Planning and Economic Affairs, delivered the opening remarks. The meeting was attended by senior officials from across 15 government agencies.

A separate workshop for the private sector was held on 27 April.

The ADB technical assistance Support for South Asia Regional Economic Cooperation supports economic corridor development in Sri Lanka.