Business
ASEAN luminaries call for inclusive digital trade ecosystem
Co-organized by NIKKEI Group and ISEAS – Yusof Ishak Institute (ISEAS), the “Nikkei-ISEAS Forum on Digitalizing Trade in South East Asia and ASEAN” brought together luminaries from the region including the Coordinating Ministry for Economic Affairs, Indonesia, the Organisation for Economic Co-operation and Development (OECD), ISEAS, Honey Consulting Ltd. and Huawei to explore initiatives to unlock the potential of digital trade in the region. The need for a connected, inclusive and multilateral digital trade ecosystem was emphasized during the discussion.
The COVID-19 crisis has accelerated the adoption of digital technology. ASEAN predicts the digital economy will contribute one trillion US dollars to regional GDP. Third-party data shows 132% of SEA population has a mobile connection, 463 million people are internet users.1
There are many different trade agreements connecting the region. The importance of collaboration on building the digital trade ecosystem was echoed by participants in the forum. Choi Shing Kwok, Director and CEO, ISEAS – Yusof Ishak Institute, thanked NIKKEI and Huawei for supporting this meeting of minds, saying, “Digital trade is a promising driver of ASEAN’s trade that came to the fore during the COVID-19 pandemic and we expect it to prevail post-pandemic. By reducing trade costs and increasing productivity, digital technologies such as the Internet of Things, Artificial Intelligence, and 3D printing can increase the growth rate of trade in developing countries, including those in the ASEAN region, by 2.5 percentage points per annum or 22.5 percentage points from 2021 to 2030.”
As a policy-maker, Dr. Rudy Salahuddin, Deputy Minister for Digital Economy, Manpower, and SMEs at Coordinating Ministry for Economic Affairs of the Republic of Indonesia, highlighted the crucial role of digital trade in boosting digital economy at large, especially in realizing a resilient economic recovery. He also mentioned the ASEAN faces challenges in ICT infrastructure gap and uneven rate of ICT adoption, to which ICT partners including Huawei can contribute.
“Digital Trade offers golden opportunities for collaboration to support common goals such as regional economic recovery and tackling the climate crisis,” said Craig Burchell, Senior Vice President of Global Trade Affairs, Huawei, who also supported collaboration to unlock the potential of digital trade to benefit SEA and ASEAN. He referred to the Economist Report on the “Costs of Deglobalizing World Trade” as a warning signal on decoupling, and called for greater collaboration and advocated “Technology for All” policy to optimize digital services, such as 5G, Cloud and AI, to enable new trading opportunities for all.”
Stephanie Honey, Principal of Honey Consulting Ltd, noted that while SEA enjoys a vibrant digital business community and consumer market, fragmented trade rules within the region and beyond meant that businesses were not able to realise the full potential of the digital economy. It would be essential to have collaboration, flexibility and multi-stakeholder participation in developing new digital trade rules, and to integrate approaches across as many economies as possible. There were a number of innovative regional agreements that could be used as models, including the Digital Economy Partnership among Singapore, New Zealand and Chile.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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