News in Brief:
– President Wickremesinghe advocates modernising Sri Lanka’s agriculture for export-driven growth.
– Emphasis on targeting emerging markets and involving private sector for sectoral development.
President Ranil Wickremesinghe of Sri Lanka has outlined a bold vision for the country’s agriculture sector, emphasising the need to modernise and target emerging export markets. With a declining population and a changing global landscape, Wickremesinghe sees agriculture as the key to economic stability and rural development.
Addressing the nation, the president explained the critical role of agriculture in stabilising the economy and lifting rural communities out of poverty. He stressed the urgency of transitioning towards an export-oriented agriculture model to reduce dependency on loans and stimulate economic growth.
Highlighting demographic shifts, Wickremesinghe pointed out that while Sri Lanka’s population is expected to decline by 2048, neighbouring regions are experiencing population booms. This presents an opportunity for Sri Lanka to tap into growing demand for food products in these markets. The President stressed the importance of preparing for this shift by modernising agricultural practices and diversifying export destinations.
In line with this vision, Sri Lanka aims to adopt modern agricultural techniques and engage the private sector for sectoral development. President Wickremesinghe’s government is committed to restructuring the existing agricultural system and creating an environment conducive to private sector participation.
He envisions a departure from traditional plantation agriculture towards a dynamic agribusiness landscape. Sri Lanka seeks to leverage its expertise in tea production while exploring new avenues for cultivation and export.
Acknowledging the complexity of agricultural transformation, Wickremesinghe highlighted the need for collaboration between the public and private sectors. The country aims to establish modernisation hubs nationwide, catalysing innovation and efficiency in the agricultural sector.
