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Promoting Sri Lanka’s Professional Services Sector

28 April 2005

George Saibel
George Saibel, Director of the Secretariat's Special Advisory Services Division which oversees the project.

The Commonwealth Secretariat has started a project in Sri Lanka to assist the country's Export Development Board (EDB) in improving the competitiveness of its professional services sector.
 
The project, funded by the Commonwealth Fund for Technical Co-operation (CFTC), was launched in Colombo on 18-22 April 2005, following a series of meetings with Sri Lankan government officials and representatives from the private sector.

It was developed at the request of the Government of Sri Lanka for technical assistance in developing a services policy and strategic marketing plan for the expansion and diversification of exports of its professional services.
 
The services sector in Sri Lanka makes up some 60 per cent of its gross domestic product. This sector has become the fastest growing component in cross-border trade and investment as global trade becomes more service intensive with trade liberalisation and globalisation. Sri Lanka is seeking to position itself in the global services trade, currently valued at over US$1.3 trillion, in order to realise maximum benefits from the sector. Exports of professional services in the legal, accounting, health, information and communications technology, architecture and engineering sectors could help Sri Lanka to diversify from its dependence on a handful of primary commodities, the value of which continues to decline.
 
To assist the Government of Sri Lanka in formulating policies and implementation strategies to strengthen its capacity in the professional services sector, this CFTC project will evaluate the level of professional services offered in Sri Lanka in several services sub-sectors. Their comparative advantage will be assessed to develop a competitive export capability. This will facilitate the identification of foreign markets and potential industries that may be suitable for targeting. These efforts will enable the EDB to formulate a services policy and strategic programme for the development of selected services sectors in Sri Lanka.
 
George Saibel, Director of the Secretariat's Special Advisory Services Division which oversees this CFTC project, said: "Improvements in the delivery of professional services in Sri Lanka will have a positive effect on exporters who must be efficient and competitive to market their products internationally."
 
The project will study Sri Lanka's pattern in the export of professional services through an analysis of its trade flows, its region-specific exports and its priority markets. This includes services in software and information technology, data entry, engineering, architecture, the legal field, accountancy, health, tourism, and printing and publishing. Barriers to trade in services including regulatory measures and the lack of market access will be examined. This project will facilitate the development of a strategy for the implementation of a strategic export development and promotion programme to assist the expansion and diversification of exports of professional services.

CNIS - the Commonwealth News and Information Service Issue 232 27 April 2005

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