This significant gathering brought together esteemed leaders, government officials, and key stakeholders to reflect on a rich history, tackle today's challenges, and passionately plan for a vibrant future.
The event was graced by the distinguished presence of Hon. Minister Sunil Haduneththi, our Chief Guest, and Mr. Murtaza Jafferjee, Chair of Advocata Institute and CEO of JB Securities Ltd, who delivered an insightful address as our Guest Speaker.
Outgoing Chairman reflected on CTTA's deep-rooted legacy, established in 1894 to ensure fairness in the Colombo Tea Auction.
"It is both an honour and a privilege to stand before you today as we reflect on a proud legacy, 131 years of service by the Colombo Tea Traders’ Association to our tea industry and to our nation," he shared.
He highlighted positive strides in tea production and passionately called for urgent action on "ongoing discrepancy in land extent data" to improve policy, and encourage vital replanting and value addition.
He concluded, "My humble request is that we all work together in a dedicated manner and resolve issues and challenges for the betterment of the overall industry."
Hon. Minister Sunil Haduneththi, emphasized the government's strong commitment to a truly collaborative future for the tea industry at his Chief Guest’s address.
He highlighted the power of working together, stating,
"As a country, we are moving forward not because of anything else, but because we, as a collective team, discuss our goals, objectives, and opportunities and act upon them."
The Minister pointed to the re-established Inter-Ministerial Council and discussed plans to release crucial funds.
"If we couldn't do it before, we now have a plan to release funds from the treasury for the plans of the relevant sector in the upcoming year," he assured, concluding, "There is a saying, 'Let's do it, if not, let's do it somehow.'
I wish everyone the strength of destiny to have a more optimistic discussion at the 132nd conference to overcome this challenge."
Guest Speaker, Mr. Murtaza Jafferjee offered a refreshing look at Sri Lanka's macroeconomic landscape, urging business leaders to embrace fundamental shifts.
He clarified currency dynamics, explaining, how to think about the currency and depreciated Sri Lankan rupee.
Mr. Jafferjee highlighted positive trends like a consistent current account surplus and strengthening national reserves, largely thanks to the IMF program.
He also shared, "I have serious reservations that if we are going to have productivity growth large state or state-led development is questionable."
The 131st AGM wrapped up with a renewed sense of purpose, ensuring the continued prosperity of Sri Lanka's cherished tea industry.
About the Colombo Tea Traders' Association: The CTTA, inaugurated August 9, 1894, champions the common interests of tea sellers and buyers, proudly upholding the Colombo Tea Market's good name.
Formed by the Ceylon Chamber of Commerce, it meticulously manages the Colombo Tea Auction and serves as the industry's leading private sector body.