• Govt. keen to triple rubber industry to $3b

    31/08/2014 Lanka News Papers

    02/01/2017
    Govt. keen to triple rubber industry to $3b

    Sri Lanka has garnered more than $4.6 Mn orders at the recently concluded Kunming Int’l Fair in China-and this too is only from the initial overview of Kunming outcomes rather than any in-depth totals. “I am pleased of the performance of the delegation of 119 companies and businesses that I led to Kunming. I commend EDB for this successful facilitation effort” said a satisfied Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) on 31 July in Colombo.

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  • World Export Development Forum 2014 to be held in Africa for the first time

    31/08/2014 Lanka News Papers

    02/01/2017
    World Export Development Forum 2014 to be held in Africa for the first time

    The World Export Development Forum (WEDF), a flagship event of the International Trade Centre (ITC), is bringing its 14th edition to Africa, with a dedicated focus on entrepreneurs.

    Dedicated to supporting trade-led inclusive and sustainable development, the forum will be held in Africa for the first time, and is slated to take place in Kigali, Rwanda on 16-17 September, under the theme SMEs: Creating jobs through trade.

    Besides, participants at the 14th World Export Development Forum (WEDF) will have the opportunity to hear expert views from entrepreneurs, policymakers and representatives of trade support institutions on how both new technology and traditional sectors can help promote growth.

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  • Rubber Industry Facing Great Challenges

    31/08/2014 The Sunday Leader

    02/01/2017
    Rubber Industry Facing Great Challenges

    The rubber industry is facing great challenges from an increasingly competitive global market, said Dr Abdul Aziz, Secretary General of International Rubber Research and Development Board (IRRDB) and also the Chairman of Confexhub Malaysia on Thursday in Colombo.

    Announcing the Global Rubber Conference to be held in Sri Lanka in October, he said that in the past few years, many other commodities had surpassed the rubber industry and therefore, it was imperative for the rubber industry to gear up and meet those challenges. The 4th Global Rubber Conference (GRC 2014), one of the world’s leading conferences on rubber sector, is to be held in Colombo from October 27 to 30.

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  • Lankan biz throng first Seychelles forum in Colombo

    27/08/2014 Asian Tribune

    02/01/2017
    Lankan biz throng first Seychelles forum in Colombo

    Pierre Laporte (Minister for Finance, Trade and Investment of Seychelles-second from right) gifts a 'Coco de mer' sea coconut prevalent only in Seychelles to Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka-second from left) on 27 August in Colombo as Bandula Egodage (Chairman & CEO-EDB-far left) and Waven William (Seychelles Ambassador to Sri Lanka-far right) look on.

    No less than 130 reps from 125 Lankan firms thronged the first bilateral B2B call between Sri Lanka and Seychelles biz ever to be held in Colombo on 27 August. “Today’s event can be a stepping stone for more bilateral trade between both countries, which is an urgent need at this moment. The total bilateral trade has been low at only $3.7 Mn. Today’s initiative therefore is a major step in this direction” said Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) on 27 August in Colombo.

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  • High level ‘Nam push for Lanka investments

    25/08/2014 Asian Tribune

    02/01/2017
    High level ‘Nam push for Lanka investments

    The Government of Vietnam, while unravelling Lankan investment volumes within its borders, signalled on 22 August of its own investment push towards Sri Lanka-and coming from its high levels. “Already 10 Sri Lankan investment projects are in Vietnam. Vietnam investors and businesses too are eager to go out of the country and invest.

    I hope the Government of Sri Lanka would create an enabling environment for Vietnamese business and investors” said a keen Pham Binh Minh (the Vietnamese Deputy Prime Minister who is also the Minister of Foreign Affairs of Vietnam) on 21 August in Hanoi.

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  • Historic Lanka-Vietnam trade link established in Hanoi

    22/08/2014 Asian Tribune

    02/01/2017
    Historic Lanka-Vietnam trade link established in Hanoi

    Rishad Bathiudeen (Minister of Industry and Commerce–right) appreciates the souvenir gift from the Minister of Trade and Industry of the Vietnam Vu Huy Hoang (centre) at the Head Quarters of Ministry of Industry and Trade of Vietnam, in Hanoi.

    The first ever Sri Lanka Vietnam official trade mechanism went live in Hanoi on 21 August. And the new mechanism, according to the Vietnamese side, is the practical way for bigger trade cooperation in the form of an Agreement.

    “Today’s new beginning will open many new opportunities for both countries. I am fully convinced that setting up of a Joint Working Group (JWG) or Joint Trade Sub Committee, would lay a concrete foundation to enhance the existing bilateral trade and economic relations new heights. My Ministry would closely monitor the progress” said n Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) at the Head Quarters of Ministry of Industry and Trade of Vietnam, Hanoi on 21 August.

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  • Lanka export acceleration push begins

    20/08/2014 Daily FT

    02/01/2017
    Lanka export acceleration push begins

    Exports, the lifeline of Sri Lankan economy, are a national priority. The urgency of the exports accelerating strategy is such that it could kick-start even before its full design cycle is over. Meanwhile, brand Sri Lanka packs hidden potentials that could be leveraged for national export growth.

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  • First hand Syrian account reveals Lanka a destination beyond Gulf

    18/08/2014 Asian Tribune

    02/01/2017
    First hand Syrian account reveals Lanka a destination beyond Gulf

    Rishad Bathiudeen (Minister of Industry and Commerce–left) discusses with Dr Mhd. Moussallam Al Droubi (CEO of Al Droubi Group and the Hon Consul of Sri Lanka in Damascus, Syria) in Colombo on 13 August.

    For the first time, Syrian investors' view on trading and investing in Sri Lanka has been revealed in a first-hand account on 13 August in Colombo. And the cash rich Syrians want to set up active projects first, rather than sending a stream of hot funds.

    “As countries, Gulf economies are richer than Syria but when it comes to individual countries’ private capital volumes, everyone knows that Syrians are way ahead and much more liquid than private capital in Gulf region. The main issue now is that the Syrian industrial community is on the lookout for an investment hub due to the current unrest in Syria. There are a few keen big investors who are studying Sri Lanka closely” said an upbeat Dr Mhd. Moussallam Al Droubi (CEO of Al Droubi Group and the Hon Consul of Sri Lanka in Damascus, Syria) on 13 August in Colombo.

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  • Finished rubber goods export up

    17/08/2014 Sunday Observer

    02/01/2017
    Finished rubber goods export up

    In 2013, Sri Lanka's natural rubber sheet exports stood at US $71.6 million, while the export of finished rubber goods stood at US $ 887 million, compared to US $ 856 million in 2012, an increase of 4%, said Industry and Commerce Minister Rishard Bathiudeen at the inauguration of the second edition of Sri Lanka PLAST and the first edition of RUBEXPO at the BMICH last week.

    “Our plastic exports stand at US $60.11 million compared to US $ 57 million in 2012, an increase of 5%. We encourage value addition for rubber exports. These two sectors have been identified as thrust industries and are expected to contribute significantly to national economic growth and help meet our planned 7.8% GDP target this year,” he said.“Our company exports rubber products and slippers to India in fairly large quantities.

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  • India has the most balanced trade with Sri Lanka: Sinha

    15/08/2014 Daily FT

    02/01/2017
    India has the most balanced trade with Sri Lanka: Sinha

    When it comes to global trade parities of the world’s 10th largest economy, the most balanced trade it conducts is with Sri Lanka, India claimed yesterday.

    “India has the most balanced trade with Sri Lanka among its major trade partners. Both sides are involved in continuing discussions to take economic engagement to the next level,” said Indian High Commi-ssioner in Sri Lanka Y.K. Sinha yesterday.

    Sinha was addressing the singular inauguration event of two expos on 14 August – the second edition of Sri Lanka Plast and the first edition of RUBEXPO at the BMICH. Also taking part were Minister of Economic Development Basil Rajapaksa, Minister of Industry and Commerce Rishad Bathiudeen, Ministry of Industry and Commerce Secretary Anura Siriwardene, EDB CEO Bandula Egodage and EDB DG Sujatha Weerakoone.

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  • Top Asia-Pac fishery man prepping Colombo for rare int’l confab

    13/08/2014 Asian Tribune

    02/01/2017
    Top Asia-Pac fishery man prepping Colombo for rare int’l confab

    Bandula Egodage (Chairman/CEO-EDB-second from right) meets Dr Abdul Basir Kunhimohammed (Director General- INFOFISH-seated, with red tie, second from left) as Sujatha Weerakoone (DG-EDB-far right) joins the discussion on 12 August at EDB.

    Sri Lanka will feature a rare international confab this November –and many top global fishery experts and exporters will gather together in one place for the first time in South Asia, as announced on 12 August. “First ever International Ornamental Fish Conference to be held in Sri Lanka is taking place this November with EDB’s support. We thank Malaysia based INFOFISH for affording this opportunity to Sri Lanka” said an upbeat Bandula Egodage (Chairman/CEO-EDB) on 12 August at EDB.

    Chairman Egodage was meeting Dr Abdul Basir Kunhimohammed (Director General- INFOFISH) on 12 August at EDB. Visiting INFOFISH DG Dr Kunhimohammed is currently in Colombo to hold preparatory meetings with Lankan stakeholders for the first ever INFOFISH Global Conference to be held in Sri Lanka titled “Sri Lankan International Ornamental Fish Conference” scheduled on 10-11 November at Kingsbury Hotel, Colombo.

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  • Lanka in first mutual recognition agreement trade call with biggest global supplier

    13/08/2014 Daily FT

    02/01/2017
    Lanka in first mutual recognition agreement trade call with biggest global supplier

    As bilateral free trade leaped by a huge 40%, Sri Lanka’s biggest supplier in the world nodded in agreement on 7 August that a wider and consistent trade harmonisation push could remove existing barriers in one go -and amplify bilateral business.

    “Sri Lankan businesses that invested in India have done very well. I agree with you that a wider Mutual Recognition Agreement will be useful to increase bilateral trade. I also agree that the lack of unified market standards across various states in India could be an issue for Lankan exporters,” said a keen Arindam Bagchi (Deputy High Commissioner of India to Sri Lanka) on 7 August in Colombo.
    Deputy High Commissioner Bagchi was addressing Minister of Industry and Commerce of Sri Lanka Rishad Bathiudeen on 7 August during the first courtesy call he made on Minister Bathiudeen. Deputy High Commissioner Bagchi previously served in such stations as Beirut, New York, Spain and was finally functioning as the Director of Indian Prime Minister’s Office (PMO) before he arrived in Colombo. Joining Minister Bathiudeen on 7 August were Department of Commerce of Sri Lanka DG R.D.S. Kumararatne and EDB Chairman/CEO Bandula Egodage.

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  • Exhibitions will put Sri Lanka on the map swiftly: Swaminathan

    13/08/2014 Daily FT

    02/01/2017
    Exhibitions will put Sri Lanka on the map swiftly: Swaminathan

    Plastics and Rubber Institute of Sri Lanka (PRISL), together with Enterprising Fair India will conduct the 2nd edition of SRILANKA PLAST – a Plastics Expo and the 1st Edition of RUBEXPO – a Rubber Expo on 14, 15 and 16 August 2014 at BMICH, Colombo. Below are the excerpts of an interview conducted with Enterprising Fairs India Ltd Managing Director B. Swaminathan in light of the exhibition.

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  • World’s first official true cinnamon pass now live

    11/08/2014 Daily Finance Times

    02/01/2017
    World’s first official true cinnamon pass now live

    In its efforts to expand the global reach of its historic spice, Sri Lanka has begun equipping its exporters with international licensing as insisted by global market hotspots. As a result, the historic assemblage of Lankan exporter firms officially sanctioned to use the internationally accredited ‘Pure Ceylon Cinnamon Global Certification’ was born in Colombo last week.

    “During the last five years, Pure Ceylon Cinnamon exports have shown an increasing trend due to surging demand for it in global markets. The other good news is that the EDB has completed registration of this trade mark in the key markets of USA, EU, Peru and Colombia,” said Minister of Industry and Commerce Rishad Bathiudeen.

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  • Trade talks for first TA with surging ‘Nam on the cards

    08/08/2014 Asian Tribune

    02/01/2017
    Trade talks for first TA with surging ‘Nam on the cards

    As YoY bilateral trade jumped by a huge 88%, possibility of a first ever official trade agreement with one of the most discerning Asian suppliers to Sri Lanka has edged closer to reality on 07 August. “Our record exports today at $130 Bn was strongly supported by the seven FTAs that we entered into. An FTA with Sri Lanka can boost bilateral trade specially for Sri Lankan exporters. We should consider at least a Preferential Trade Agreement (PTA)” said an upbeat (HE) Ton Sinh Thanh (the outgoing Ambassador Plenipotentiary & Extraordinary of Viet Nam to Sri Lanka) on 07 June in Colombo.

    Ambassador Thanh was addressing Rishad Bathiudeen (Minister of industry and Commerce of Sri Lanka) on 07 August in Colombo during his farewell courtesy call on Minister Bathiudeen. Ambassador Thanh, who served a successful three year stint in Colombo is scheduled for New Delhi next. Joining Minister Bathiudeen on 07 August were RDS Kumararatne (DG-Department of Commerce) and Bandula Egodage (Chairman/CEO-EDB).

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  • PRISL Enterprising Fairs CEO Forum for plastics and rubber industry ends on high note

    04/08/2014 Daily FT

    02/01/2017
    PRISL Enterprising Fairs CEO Forum for plastics and rubber industry ends on high note

    SRI LANKA PLAST and RUBEXPO launches at CEO Forum

    PRISL (The Plastics & Rubber Institute of Sri Lanka) together with Enterprising Fairs India Ltd (EFIPL) organised a CEO Forum on at The Kingsbury Hotel on 1 August, to encourage the plastics and rubber industries to take ‘exports’ as a growth strategy. Experts from the Government, EDB and India addressed this elite forum. The event saw over a 100 business leaders local and international, from the plastics and rubber industries, and they were able to gain valuable insights on industry best practices, through case studies from India and the present and future plans of the export market for Sri Lanka.

    The eminent panel of speakers consisted of Export Development Board (EDB) Chairman and Chief Executive Bandula Egodage, Ministry of Finance and Planning Director General – Fiscal Policy Mahinda Siriwardane and Central Institute of Plastics and Engineering Technology (CIPET) Chief Manager S. Illangovan.

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  • Geographical Indication for Ceylon cinnamon soon

    04/08/2014 Daily Mirror

    02/01/2017
    Geographical Indication for Ceylon cinnamon soon

    In response to a longstanding cry by the spices and allied exporters, action is now underway to obtain the Geographical Indication (GI) for Ceylon cinnamon and other allied products of which the geographical origin and its possessed qualities will be identified with a unique sign in the international market place.

    Among other local authorities, the World Trade Organization (WTO), one of the protectors of GIs at international level has already agreed to assist Sri Lanka in providing technical support and a common front for commodities has expressed its willingness to fund the project. “The ministry and the National Intellectual Property office of Sri Lanka are directly involved with this operation with the Export Development Board (EDB) with the assistance of Spices and Allied Products Producers’ and Traders’ Association (SAPPTA),” said the Industry and Commerce Ministry Secretary Anura Siriwardena addressing SAPPTA’s 30th annual general meeting.

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  • IT/BPM export projections at $850 mln for 2014 – report

    03/08/2014 Daily FT

    02/01/2017
    IT/BPM export projections at $850 mln for 2014 – report

    Local IT and business process management (BPM) exports have grown “significantly” from US$213 million in 2007 to an estimated $720 million in 2013 and a projected $850 million in 2014; according to the recently issued “Sri Lankan IT-BPM Industry Review 2014″ report, which was commissioned by private sector body SLASSCOM, and prepared by PriceWaterhouseCoopers Sri Lanka.

    Further, the report also added that “(total) employment grew from 33,700 in 2007 to an estimated 75,100 employees in 2013, and the number of companies in the industry grew from 170 in 2007 to over 220 in 2013″. At the same time, the report also projects employment for 2014 as reaching 82,850.

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  • Sri Lanka exports record highest first half earnings this year

    02/08/2014 Colombo Page

    02/01/2017
    Sri Lanka exports record highest first half earnings this year

    Sri Lanka's exports sector has recorded the highest first half earnings witnessed in five years for the January - June half of 2014.

    Sri Lanka's January - June 2014 provisional exports has recorded the highest 1H earnings since 2010, registering US$ 5.41 billion. This is an increase of 45% from the 1H earnings of 2010 which stood at US$ 3.74 billion.

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  • Indo-Lanka bilateral trade tops $ 4bn

    01/08/2014 Asian Tribune

    02/01/2017
    Indo-Lanka bilateral trade tops $ 4bn

    With bilateral trade crossing $ 4 billion, a new chapter has opened in Indo-Lanka trade ties with the first ever Joint Task Force (JTF) coming into play.

    Strong signs of greater Indian market access for Lankan exporters and prompt resolution of trade barriers for them are the other developments in this new turn. “We are working to boost bilateral trade to $ 10 billion and as trade ties have improved greatly, the new understanding reached between both countries is a good sign for our bilateral trade future,” said Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka on June 25 in Colombo.

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