Meeting with Mr. Ajith Nivaard Cabraal, Hon. State Minister of Finance on the 17th of May 2021 at 1100 am.

Subject:Re. The Port City Act its Arbitration Process the proposal to involve the Local Arbitration Cent

Participants:

• Hon. Minister Mr. Nivaard Cabraal - State Minister of Finance

From The Sri Lanka National Arbitration Centre (SLNAC)

• Mr. Sujeiva Samaraweera – Chairman,(SLNAC)
• Mr. Hiran de Alwis – Senior AAL, Member of the Board Governors/Chief Legal Advisor - (SLNAC)
• Mr. Johann Atapattu – Chief Operations Officer - Sri Lanka National Arbitration Centre (SLNAC)

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The Meeting was held in the Finance Ministry where a fruitful discussion took place, and the Minister listened carefully to the concerns raised. Mr. Sujeiva Samaraweera raised the issue that the local Arbitration Centres could play a major pivotal role in the process of Dispute Resolution with regard to the Port City and its operation and that it would certainly be prudent to do so in order to boost confidence among all actors. It was requested that other Arbitration Centres, such as the SLNAC be afforded the opportunity to be a part of the Dispute Resolution process in the Port City. He also said that there could arise the question of foreign exchange outflow that could be at least to a certain extent, curtailed, if local Arbitration Centres were involved.

He further said that the image of the Project, the confidence, the consequent impartiality and transparency could be effective and could look better.

Mr. Hiran de Alwis also reiterated that there are vital amendments that could be proposed to the Clause in the Act and the fact that the inevitable role of local business entrepreneurs would be enhanced and the ensuing confidence would be good. He said that SLNAC handles many International Arbitrations among the numerous local ones and is conversant with the process and therefore possess the necessary expertise and capability.

The Minister at this stage, appeared to perceive the implications and requested that these proposed Amendments to be forwarded to him as soon as possible for consideration.

It was also mentioned that Sri Lanka has competent Arbitrators and also Internationally recognized arbitrators.

The Hon. Minister mentioned that for the local Arbitration Centres to be involved, they must maintain a high standard to keep abreast of outside facilitators and that there seems to be an impression that the Court is replicated (Air-conditioned Court) in the Local dispute Resolution Process in the context of the time factor, however it was explained to him that it is not entirely so and that the SLNAC is also in the process of going Digital and hopes to make the process even more expeditious and professional.

The meeting was concluded and the SLNAC expressed their appreciation for the opportunity provided.