Dhanapala on Repositioning Sri Lanka, and Role of Private Sector

In order to apprise the Business Community of the growing economic developments within the region, and how the Private Sector could contribute towards repositioning Sri Lanka in the new world order, The Chartered Institute of Marketing, Sri Lanka Region, has organised a training programme titled “Repositioning Sri Lanka in the New Economic World Order - The Role of the Private Sector” under the CIM Talking Point series.

The Institute is honoured to have former United Nations Under-Secretary-General for Disarmament Affairs, Dr. Jayantha Dhanapala, to conduct this session to be held tomorrow (20) at the Cat’s Eye ballroom at Ceylon Continental Hotel. This is the fifth consecutive programme being powered by HSBC, principal sponsor of the CIM Talking Point series in 2007.

The super 8 economies and their presiding role in the world order, have now been challenged by the emerging economies of, first, the Republic of Korea and South East Asia and later China and India, which are growing at an astounding rate. According to the latest statistics, nearly 60% of the world’s total production and income is generated outside the G8 countries. Since 1979, China has quadrupled its average income, alleviating poverty among 300 million people. Today, China is the world’s largest consumer market. India, the closest economy to Sri Lanka, has achieved tremendous growth over the last decade.

The rising importance of these two Asian giants, and the resulting developments in the international arena, will have a significant impact on other Asian economies, as its influence on their national economic policies becomes critical. Therefore, whether the new order would be a threat or an opportunity to a country, would be determined by how successful it would be in positioning itself in the new global economic order.

Dr. Dhanapala says, “A distinctive feature of the economic resurgence of Asia, during the latter part of the 20th century, is its widespread impact on other regions, in today’s globalized world. It has transmitted impulses of economic growth, by creating markets for Asian-produced commodities and services and generated outflows of foreign direct investment to other regions.”

“It has created domestic markets within Asia, by increasing the purchasing power of consumers and the demand for goods, services and investment from other regions to Asia, insulating those regions from domestic recession and imparting greater stability to world business cycles………..it has integrated Asia more closely with the global economy. The challenge before growing Asian economies, therefore, is to use this unique opportunity to craft a modern vision of development for themselves, while integrating their economies more closely in a globalized world, through mutually beneficial multilateral and co-operative models.”
Jayantha Dhanapala is, undoubtedly, an exceptional leader the world has been gifted with. Signs of his remarkable journey were first evident at the age of 17, when he won an opportunity to meet President Dwight Eisenhower and Senator J.F. Kennedy in 1957, for an essay he wrote titled The World We Want. Later, he began his long and illustrious career as a diplomat in Sri Lanka’s Foreign Service, in 1965. Between 1965 and 1983, he held diplomatic appointments in London, Beijing, Washington D.C. and New Delhi. From 1984 to 1987, he was appointed Ambassador and Permanent Representative of Sri Lanka to the United Nations, in Geneva and Vienna. In 1987, he was appointed Director, United Nation’s Institute for Disarmament Research. Following his tenure at the UN, he also served as Sri Lanka’s Ambassador to the USA, concurrently accredited to Mexico.

Dr. Dhanapala has represented Sri Lanka at the UN General Assembly and at numerous Commonwealth conferences. He has also chaired several international gatherings, including the 1995 Nuclear Non-Proliferation Treaty Review and Extension Conference, receiving awards for his work in diplomacy and disarmament. Dr. Dhananpala has published four books, written extensively for international journals and delivered lectures in several countries, and continues to be an active member of numerous international commissions. Dr. Dhanapala has also received honorary Doctorates from UK, USA and Sri Lanka. At present he is Chairman, United Nations University Council.