Archives Trade News

More participants for Facets

Daily News /Friday, 31 August 2007

Anjana Samarasinghe

There was a good response for Facets Sri Lanka, the 17th International Gem and Jewellery show which commenced at the BMICH yesterday.

The show is organised by the Sri Lanka Gem and Jewellery Association. Chairman of the Sri Lanka Gem and Jewellery Association Chanaka Ellawala told Daily News Business that they doubted this year's participation due to the circumstances in the country but there was a good response for the event.

"Though it is too early to talk of the success of the event, during the first day of the show we witnessed a large participation of both foreign and local visitors. There was a sudden increase in tourist arrivals in this month and this also helped the increase of the foreign participation even on the first day of the event," he said.

Ellawala said during the first day of the event there were buyers from US, Japan and Thailand. "Apart from our regular foreign visitors there were new visitors as well. We are targeting 500 foreigners for this year's event," he said.

Speaking at the opening ceremony of Facets Sri Lanka, Minister of Enterprise Development and Investment Promotion, Sarath Amunugama said that gem and jewellery exports have recorded USD 450 million while diamond exports have contributed a lot for the total earnings. More>>

Coir marvels for the world market

Daily News /Friday, 31 August 2007

Ruwanthi ABEYAKOON

HIS innovative thinking gives birth to thousands of coir items. Managing Director, Thisara Coir Industries and Thisara Enterprises, J.V. Bandula Gunawardana has captured the local and the international markets with his products.

Thisara Coir Industries established in 1992, is situated at Mawathagama, Kurunegala, 85 kilometres away from Colombo.

“I am living in the coconut triangle. It is easy to find raw material for the industry. At the beginning no body assisted me. There was a big competition. I had to face a lot of problems. I did not give up. My dedication and interest in this industry brought success,” Gunawardana said.

“Coir industry brings in lot of foreign exchange. At present there is less competition for me because of the standard of our product. I pay a lot of attention on the quality of the product,” he said.

Starting the factory with three workers today Gunawardana employs 50 workers.

“We produce a range of coir-based products using natural coir fibre. Sri Lanka produces the world’s best fibre and is one of the main suppliers of raw coir and coir based products to the world market,” he said.

“We manufacture twin twisted fibre with various diameters according to the buyer’s requirement. Our monthly production capacity is 42,000 metric tons. We also produce UK type coir twin ball and Korea type coir twin,” he added.

Gunawardana noted that twin is used for various agriculture, horticulture and aquaculture purposes such as coir bag, geo-textile, coir net, for wineyards and as a winter protection for the bank of terraces. “It is exported to USA, UK and Korea. More>>

Good agricultural practices to increase tea productivity

Daily News /Friday, 31 August 2007

Ramani Kangaraarachchi

Tea research scientists have revealed that Sri Lanka has the potential to yield 10,000 kg of made tea per hectare, Chairman Tea Research Institute, Gerry Jayawardena said speaking on "Sustainabilitea" through Good Agricultural Practices at the International Tea Convention held at the Cinnamon Grand Hotel Colombo yesterday.

He said Sri Lankan tea productivity is low and the average production is around 1600 kg per hectare.

"The planters using new technology have yielded up to 7000 kg per hectare and further research has shown that it can increase up to 10000 kg by adopting good agricultural practices ensuring economic viability," he said.

Jayawardena pointed out that it shows the country's potential.

Deputy Chairman Kahawatte Plantation Dan Seevaratnam said scientific planning is necessary to identify the best lands for tea cultivation considering current yield of the land.

He said that the major tea producing countries should agree on national production targets for the short, medium and long term as tea consumption is to be increased by three per cent per annum. Therefore supply also needs to grow at approximately three per cent. More>>

Tea Conference

SUSTAINABILITEA conference

Daily News /Friday, 31 August 2007

The International Tea Committee (ITC) held its annual 'Producer-Consumer' meeting yesterday at Cinnamon Grand Hotel in Colombo. It will continue till tomorrow.

To mark this occasion a Tea Convention with International Flavour on the theme, "SUSTAINABILITEA" is organised by the Colombo Tea Traders' Association in collaboration with the Sri Lanka Tea Board.

This meeting held in London since its inception in 2005 has now moved to other locations with one in Nairobi, Kenya in November 2006 with the last FAO Inter Governmental Group meeting on tea.

This year's theme is 'SUSTAINABILITEA" and is the most appropriate for all stakeholders of the industry. More>>

South Asia Broadband Communication Congress and Expo 2007

Daily Mirror /Friday, 31 August 2007

An impressive programme for the first ever South Asia Broadband Congress and Expo 2007 (SABB2007) to be held in Colombo on the 4-6 September, have been finalised with experts from across the region cued to take part.

The Congress has objective to establish the ties between the decision makers of broadband industry in the region and provide the forum for sharing the information and experiences in this strategically important and dynamic filed of economy.

The plenary session keynote presentations will be given by the Minister of Posts and Telecommunications Rauf Hakeem, SLT CMO Priyantha Perera, Dr. Ashok Jhunjhunwala, Professor of the Department of Electrical Engineering, Indian Institute of Technology, Chennai, India, Dr. Rohan Samarajiva, Executive Director of LIRNEasia and Dr. Zoran Miljanic, President TNI.

The Congress programme includes tutorial workshops and technology insights on broadband. Industry experts from across the board will speak on key topics. Priyanka Undugodage, Head of IP and Broadband Network Division, Sri Lanka Telecom: “Residential Gateways for Broadband Multi Services Delivery Platform”, A. Sethuraman, CMO & Head- Corporate Communications, Alcatel-Lucent, South Asia: “Broadband Wireless Infrastructure Technology and Services”, Bo Ribbing, Head of 3G Group, Ericsson: “3G/ HSPA technology”, Leighton Phillips, Director, APAC Region, Intel: “Rural-Suburban WiMAX Solutions for South Asia”. More>>

Lankan gems, jewellery glitter at Singapore jewellery show

Daily News /Thursday, 30 August 2007

Minister of Enterprise Development and Investment Promotion Dr. Sarath Amunugama made a strong case for the Sri Lankan gems and jewellery sector stressing the quality of the local products and excellent workmanship during a brief official visit to Singapore recently. Dr. Sarath Amunugama and Minister of State for Trade and Industry of Singapore Lee Y. Shyan were the chief guests on this occasion.

Dr. Amunugama was responding to an invitation by Chairman, Singapore Jewellery Association (SIJ) Cheuen who requested from him that Sri Lanka should participate at the Singapore International Jewellery Show.

Given the importance of this industry to the national economy there was a pavilion at the exhibition that was show casing the Sri Lankan gems and jewellery sector.

The Singapore International Jewellery Show was in its third year with 27 countries and 148 exhibitors represented.

Dr. Amunugama discussed with top level businessmen who are in gem and jewellery trade on ways to boost exports to Singapore and other countries and explore the possibilities of starting joint ventures in Sri Lanka.

At the same time they laid the foundations for a greater integration of gems and jewellery sectors of Sri Lanka and Singapore and the likelihood of a regular participation of a Singapore Pavilion at the Sri Lanka International Gem & Jewellery Show, better known as “FACETS-Sri Lanka”. More>>

Pakistan Trade delegation here

Daily News /Thursday, 30 August 2007

A HIGH powered trade delegation from Pakistan is visiting Sri Lanka from September 3 to 6. The members of delegation cover vast number of industrial sectors of Pakistan.

The delegation is headed by Muhammad Imtiaz Ahmed, Chief Executive Officer of M/s Metro-Hi-Tech manufacturer of motorcycles and electric fans in Pakistan.

The members of the delegation mainly represent the companies manufacturing motorcycles, electric fans, machinery used in pharma industry, sanitary fittings, cutlery and kitchen tools, cotton and synthetic yarn, leather goods, sports wears and footballs, wooden furniture and handicrafts, cement productions, pencils and ball points, surgical and dental instruments, handmade carpets and other handicrafts and traders of fruits, onion, potato mandarin and rice.

The High Commission has also organized a one day mini-exhibition at ‘Salon Anthurium Galadari Hotel’ on September 4 from 10.00 a.m. to 2.30 p.m. More>>

Tea Convention today

Daily News /Thursday, 30 August 2007

Hiran H.Senewiratne

The International Tea Committee (ITC) will hold its annual ‘Producer-Consumer’ meeting today at Cinnamon Grand Hotel in Colombo and will continue till September 1.

To mark this occasion a Tea Convention with International Flavour on the theme, “SUSTAINABILITEA” is being organised by the Colombo Tea Traders’ Association in collaboration with the Sri Lanka Tea Board.

This meeting held in London since its inception in 2005 has now moved to other locations with one held in Nairobi, Kenya in November 2006 with the last FAO Inter Governmental Group meeting on tea.

This years theme is ‘SUSTAINABILITEA” and is the most appropriate for all stakeholders of the industry. More>>

Kiran Atapattu receives a Presidential Export Award

Daily News /Thursday, 30 August 2007

Kiran Atapattu of Colombo Engineering recently received a presidential export award for ship repairing services in Sri Lanka.

Atapattu operates an individual business enterprise and is the only individual businessman to receive fifteen top class business awards Sri Lanka.

His company is ranked as one of the leading ship repair companies in Sri Lanka and its services are recognised and approved by all the international worldwide classification organizations. More>>

Need to develop local brands viewed

Daily News /Thursday, 30 August 2007

Anjana Samarasinghe

CEO of Sri Lanka Telecom, Mobitel, Suren Amarasekera handing over the sponsorship cheque to President of the NCE, Kulatunga Rajapaksa. Executive Director of NCE Rasa Weerasingham looks on. Picture Saliya Rupasinghe

Private sector ne- es to focus more on developing local brands in the global market said Member of the panel of judges of NCE export awards, Nalin Attygalle Speaking at a press conference held yesterday to announce NCE export awards event.

Sri Lanka could develop positive perception in the international market through branding of local prodcuts and tourism he said.

“There is lot more to be done in developing local brands. Local exporters need to focus more on the brand equity and many international companies invest heavily on their brand equity. Comparing with last year there is a special focus on local exporters to develop their own brands,” he said.

The 15th NCE Export Awards organised by the National Chamber of Exporters (NCE) of Sri Lanka will be held on September 28th at Hilton Colombo.

President of the NCE Kulatunga Rajapaksa said that it is important to recognize exporters and increase of exports.

Last year there were 100 applicants for the NCE awards and this year it has increased to 120 he said.

The Chairman of the Awards Committee of NCE Export Awards L.S.G. Tillekeratne said that the award winners are categorized as exports of products, exporters of business and professional services, suppliers and service providers to exporters. More>>

Nepal Business delegation in Colombo on Monday

Daily Mirror /Thursday, 30 August 2007

An esteemed fifteen member Nepali Business Delegation is expected in Sri Lanka next Monday led by the President Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandi Raj Dhakal.

The delegation will meet the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) and interested local businessmen at the FCCISL Headquarters.

The delegates are representatives from the fields of readymade government, tea, auto industry, confectionaries, various ranges of vegetable based oils, sport shoes, Maruti and Suzuki vehicle dealers, electric equipments, wooden furniture, hardware manufacturing, manufactures of pharmaceuticals products, ayurvedic medicine, rice and mill, handicraft, carpets, silver goods, hotel, construction and engineering, grocery items, travel and trade and hospital etc. More>>

“How to Conduct Business in Today’s Environment”

Daily Mirror /Thursday, 30 August 2007

The Ceylon Chamber of Commerce, in cooperation with the Confederation of Asia-Pacific Chambers of Commerce and Industry, will conduct a Seminar on “How to Conduct Business in Today’s Environment” on September 6, 2007 at the Longden Room, Hotel Taj Samudra.

Today’s global economic environment poses many challenges for business to succeed. There are many policy changes, both local and international which affect business. There is the push for liberalization and globalization with the new focus on social responsibility, and the emphasis for green products, rapid development in new technology calling for business innovation, and e-Commerce, among others, all requiring serious consideration in business planning and execution. One must adopt financial strategies to cope with today’s credit risks management. The seminar discusses some pitfalls and potential land mines in today’s business environment. The stakes are indeed high. While there are challenges there are also new opportunities for business. The speakers will take up practical approaches to deal with both challenges and opportunities.

The speakers include an academician who keeps up with today’s challenges and a business entrepreneur who also plans to offer joint venture opportunities during his presentation. They will both interact with participants on the topics to be discussed to give the seminar a practical and innovative approach in facing the challenges and to succeed in today’s business environment.

Mr. Leoncio Cubillas, Jr., is a consultant and trainer from the University of the Philippines, a renowned state university in the Philippines. He specializes in Entrepreneurship Development and Planning, Production, Marketing, Entrepreneurial Finance, Feasibility Studies, and Technology Assessment, among others. He has participated in seminars on Entrepreneurship for Planning and Development in Dhaka, Bangladesh; Brunei Darussalam; Peshawar, Pakistan; and Kuala Lumpur, Malaysia. He is a consultant of the World Bank, Swiss Development Agency for Cooperation and also faculty affiliate of the Ateneo Graduate School of Business. He is a UP Graduate major in Master of Technology Management with field of study at the Asian Institute of Management; the Korea International Cooperation, Department of Industrial Promotion of Bangkok with advanced Training in Management at the Research Institute of Management Science, Hague, Netherlands. More>>

Kenya to participate in global tea forum in Sri Lanka

Daily News /Wednesday, 29 August 2007

Kenya is sending a high powered tea delegation to Colombo to discuss issues concerning sustainable production and food safety standards, tea regulators said here on Monday.

A statement from the Tea Board of Kenya (TBK) said the Kenyan delegation will join more than 100 foreign and 300 Sri Lankan delegates expected to attend the Colombo International Tea Convention which begins on August 29 to September 1.

“As one of the leading producers of the highest quality black tea in the world, Kenya will be sharing and comparing its experiences together with its host, the Sri Lanka Tea Board among others,” the TBK Managing Director Sicily Kariuki said.

The four-day convention whose theme will be sustainability or ‘Sustainabilitea’ comes at a time when consumers are becoming more conscious of their social responsibility when sourcing the product.

“The Convention will also include other forums such as a Tea Producers Forum and a Tea Producer and Consumer Countries Forum. Both Forums will hold consultations on key issues directly affecting the world tea industry,” Kariuki said.

The conference is being organised by the Colombo Tea Traders’ Association (CTTA) and the Sri Lanka Tea Board to mark the 140th anniversary of the Ceylon tea industry. More>>

Promotion drive in China for Lankan tea

Daily News /Wednesday, 29 August 2007

A Special meeting was held recently under the patronage of Minister of Export Development and International Trade Prof. G. L. Peiris to discuss the possibility of launching a Sri Lanka Tea export drive in China.

Prof, Peiris and other officials discussed the need to set up a commercial section in the Sri Lanka Embassy in China as well as sales offices in leading Chinese cities.

Propagating Sri Lankan tea during the forthcoming Beijing Olympics 2008 was also discussed. Complications relating to the foreign exchange transactions and other relevant matters were also considered at this meeting.

Participants of the meeting included Secretary to the Ministry of Finance, Dr. P. B. Jayasundera, and Secretary to the Ministry of Export Development and International Trade, S. Ranugge, senior officials of Sri Lanka Tea Board and Export Development Board and Leading Sri Lankan Tea Exporters. More>>

GSP+ should not be tied up with pre-conditions - Chief Justice

Daily News /Wednesday, 29 August 2007

Sarath Malalasekera

There have been arrangements that regulated trade, primarily designed to resolve disputes against traders.

The modern commercial law has its roots in the lex mercatoria (Law Merchant) of the middle ages, Chief Justice Sarath N. Silva PC said at the Inauguration of the first ever Conference on International Trade held at the Water’s Edge recently.

The Chief Justice said that during that period merchants travelled with their goods to fairs and markets across Europe and their disputes were settled by special local courts in which the judge and jury would be the merchants themselves. They applied the lex mercatoria as opposed to local law.

Thus the lex mercatoria was an international law of commerce based on the general customs and practice of merchants that were common throughout Europe. Subsequently the lex mercatoria was incorporated into the common law of England.

With the growth of Nation States in the modern period of history national identities strengthened and there ceased to be an international law or practice on trade. More>>

Techno 2007 begins October 19

Daily News /Wednesday, 29 August 2007

Ramani Kangaraarachchi

“The first ever National Engineering Exhibition, ‘Techno 2007’ organised by the Institute of Engineers Sri Lanka (IESL) will be held from October 19 to 21 at the BMICH.

The first exhibition organised by the Institute 21 years ago was known as “Elect”. It displayed imported products.

But now it showcases products of local manufacturers but also entering the export market as well.

The President IESL T. B. Taldena said the IESL completes 101 years this year.

Chairman of the Techno 2007 Organising Committee Ranjith Rubasinghe said it is time to redesign the exhibition the way country wants it in the future.

“The theme for the exhibition “Discovering the Future” is ideally suited in that sense,” he said.

The exhibition will be a blend of engineering and trade stalls highlighting teaching aspects.

The Vidatha Vidu Dekma will be a part of Techno 2007 strengthening the theme this year. More>>

Orange to create a wildfire brand for global markets

Daily News /Wednesday, 29 August 2007

Hiran H. Senewiratne

A young Sri Lankan entrepreneur working hard to bring pride to Sri Lanka to manufacture a strong local brand to create a global brand or wildfire brand is and asset for any country. This person is none-other than Kushan Kodithuwakku the Head of Orange Electric Company.

Orange Electric commenced a few decades ago as a joint venture company with Clipsal Lanka of Australia as an assembly line to manufacture injection moulding.

Orange is now a 100 per cent Sri Lankan company with a global presence. It is engaged in manufacturing electrical accessories not only to the local market but also making a considerable presence in the international markets, its Managing Director Kushan Kodithuwakku said.

Kushan’s grandfather who hailed from Matara laid the foundation to this business. Kushan took-over this business from his father in 1995 and has developed into a strong local entity.

At that time they were only manufacturing switches. They are now manufacturing 400 plus products including light meters and bulbs for the purpose of giving total solutions for customers, he said. More>>

Using mature tea leaves for compost

Daily News /Wednesday, 29 August 2007

In Sri Lanka, we pride ourselves on the high production rate of tea. But we never think about using mature tea leaves for making compost fertilizer. We have many lands of tea where tea trees are relatively old, and require re-planting with new tea trees. What do we do with the old tea trees? Many planters throw them away which is like throwing money without using.

The recent research by many scholars have given ample evidence of the benefits of the compost tea fertilizer. What we need is a change in attitude in accepting and using modern technology.

The compost tea fertilizer made from tea leaves preserve the natural organisms friendly to other bio plants and give out a lot more nutrients to many kinds of plants. For example, it is highly efficient on all kinds of vegetables grown in the hill country.

Moreover, the compost fertilizer made from tea leaves fall under the category of organic fertilizer and therefore it will increase the quality of the vegetables and fruits, and hence the price in the world market.

The Government can save money by decreasing the amount of imports of the artificial fertilizer. Also compost tea fertilizer can be exported to various markets in the world.

Why use compost tea? It’s long been recognised by organic growers and researchers that the use of compost can help prevent some plant diseases. More>>

Myanmar to further expand trade ties with Sri Lanka

Daily Mirror /Wednesday, 29 August 2007

By Rebecca Fleming

An eleven member trade delegation from Myanmar arrived in Sri Lanka on Monday to explore possibilities of expanding business ties and investment opportunities between the two countries.

The delegates who arrived in Sri Lanka on Monday morning participated in a meeting at the Ceylon Chamber of Commerce (CCC) followed by one-to-one business meetings with local companies.

Vice Chairman Chamber of Commerce Jayampathi Bandaranayake addressing the meeting said, “This is an opportunity to extend our friendship for a fruitful partnership” He briefed them of the Ceylon Chamber of Commerce, related activities of CCC and its functions.

President Union of Myanmar Federation of Chambers of Commerce and Industry Win Myint in his speech conveying the reasons behind their visit said, “We are part of a state delegation and are here to explore the possibilities of exports and imports between the two countries. Both nations could benefit from this.”

He highlighted, “We have business opportunities in Myanmar. Yet at the same time business communities of both countries should look into the prevailing scenario and work.” He also expressed of their hope to work with CCC more closely in the future since the Union of Myanmar Federation of Chamber of Commerce and Industry came in contact with the CCC only in 1996. More>>

Japan - Sri Lanka tea trade growth appreciated

Daily News /Monday, 27 August 2007

Few guests representing Kirin Beverage Company, Japan visited Sri Lanka on a courtesy call to mark the 20th anniversary of tea business transactions with Sri Lanka.

Last year marked the 20th anniversary of Kirin Gogo no Kocha (afternoon tea) which first went on sale in 1986. Over the past 20 years, 525.6 million boxes have been sold, equivalent of over 10 billion 500 ml plastic bottles.

Which is the superior quality tea leaves from Sri Lanka, the world’s largest exporter of black tea, which has supported us over the 20 year period.

Kirin Beverage Company, which uses roughly 2,000 tons of Sri Lankan black tea leaves every year, has started the “Book Donation Project” for the elementary schools attended by the children of the people that work in Sri Lanka’s tea plantations to express our “gratitude towards the past 20 years, and for the continued cooperation in the future.” a press release states.

A project consists of ongoing donation activities in the form of yearly donations of high-quality books that can continue to be read long into the future to the children who will create Sri Lanka’s future, as well as building ‘Kirin Beverage Libraries’ in elementary schools is also in cards. More>>

Value added tea exports to be doubled

Daily News /Monday, 27 August 2007

Hiran H. SENEWIRANE

SRI LANKA Tea Tr- aders Association plans to increase the country’s value added tea exports from 35 per cent to 65 per cent within next 10 years to get higher prices, Chairman, Tea Traders Association, Lalith Hettiarachchi said.

“Currently Sri Lanka imports 65 per cent tea in bulk form and 35 per cent in value added form. By increasing the value added tea exports we could get double the price for one kilogram,” Hettiarachchi said at a press conference announcing the up coming Colombo International Tea Convention.

He said that Sri Lanka is one of the four leading tea producers of the world along with India, China and Kenya.

“Sri Lanka exported 327 million kilograms of tea in 2006 netting an income of Rs. 91.7 billion or US Dollars 840 million. Tea has been one of the main foreign exchange earners for the country and provides employment to nearly two million people,” he said.

Small holders account for almost 65 per cent of the country’s tea production. The Convention theme this year ‘SUSTAINABILITEA” is appropriate for all stakeholders of the industry.

The country has more than 680 tea estates out of which 280 estates produce high quality tea to the export market especially Europe. More>>

Kenya to study Lanka’s GI concept in tea

Daily News /Monday, 27 August 2007

Earnings from tea could rise four times following the industry regulator’s efforts to market the commodity based on its area of origin.

Officials from the Tea Board of Kenya (TBK) will tour establishments in Sri Lanka, which is already reaping premium earnings through the concept known as Geographical Indications.

TBK chief executive officer Sicily Kariuki said they would be seeking to borrow from the success of the Sri Lankan GI registered “Cyclone tea” that has over the years given their rival an elbow to competition. More>>

Bartleets weekly Tea Surveillance up to August 21:

Slack demand due to seasonal factors

Daily News /Monday, 27 August 2007

The world renowned Colombo Tea Auction witnessed a quantity of 5.91Mkg of tea traded this week of which the Ex-estate teas accounted for 0.8Mkg. However, seasonal factors in a large number of buying countries led to a slacking of demand in most segments of the market.

In the Leafy grades, Pekoe prices came down drastically and were difficult to sell throughout much of the sale. Leafy teas like OP’s, OPA’s and OP1’s were on the whole lower with the exception of a few selected OP1’s.

The coming of the holy month of Ramadan and the consequent day-time fasting has clearly led to less activity from the Middle East and CIS buyers.

A similar pattern emerged in the Tippy market as Dubai, the CIS and Iran were all moderately active as compared with last week. Exporters to Saudi Arabai were selective during the sale.

Bright weather was experienced in both the Western districts as well as Nuwara Eliya where cold nights prevailed all week long. Uva and Udapussellawa regions experienced similar weather with windy conditions. Overcast condition prevailed in the low-grown areas with slight winds. All planting districts reported a fall in crop intake.

At the macro economy level, tea continues to retain its pole position in the agricultural export sector despite a fall in its share from 70 per cent to 68 per cent in 2006. More>>

Ceylon Glass records Rs. 43.6m in Q1 profits

Daily News /Monday, 27 August 2007

New, State of the art 205 tons per day Glass Container Manufacturing facility is expected to be completed by Q3FY 2007.

Ceylon Glass Company Limited (CGC) reported its un-audited results for the quarter ended June 30, 2007.

Sales during the quarter were SLR 469 million, a growth of 10 % compared to Sales of SLR 426 million in Q1 FY 2007. PBIDT grew by 16 % to SLR 104 million. Profit after tax increased to SLR 43.7 million, which represented a growth of 15.4% over Q1 FY 2007.

The above results are encouraging, particularly in light of the costs CGC is currently incurring to commission its new facility at Horana and migrate production to Horana from Ratmalana.

The company signed an Agreement with Board of Investment (BOI) in July 2006 to relocate its production facility from Ratmalana to Horana, CGC is in the final stages of completing its State of the Art, 205 Tons per day glass container manufacturing plant at Horana. More>>

BOI enters agreements for new projects worth over Rs.550 m

Daily Mirror /Monday, 27 August 2007

The Board of Investment of Sri Lanka (BOI) signed agreements for 7 new projects on Thursday worth over Rs.500 million. Dhammika Perera – Chairman/Director General of the BOI signed the Agreements on behalf of the Board and formally handed over the certificates to the investors.

Neil Marine J Boat Builders (Private) Limited signed an agreement to manufacture all types of fishing boats for the local market. The project represents an investment of Rs.45 million and will be based at Custom Road, Beruwala. It will provide employment to a workforce of 208 at capacity.

An agreement to manufacture and assemble energy saving lamps for export purposes was signed by Lanka Boysun Electronic (Private) Limited. The Rs.27.5 million project will be based at Kadawatha and will provide employment for a workforce of 82.

The agreement for a project that represents an investment of US$ 250,000 was signed by Civaro International Limited. The project is for the establishing of a regional operating headquarters company. The Project Office for this purpose will be located at Foster Lane, Colombo 10.

V.S. Turbo (Private) Limited signed an agreement for a project that represents an investment of US$ 795,000. The project will provide employment for a workforce of 87 and will be based at Talduwa, Avissawella. The project involves manufacturing of Turbines for the local market.

An agreement to manufacture garments for export by taking over M/s M.S.A. Mode (Private) Limited was signed by Christy Clothing (Private) Limited. The project represents an investment of Rs.67.2 million and will provide employment for a workforce of 1,000. It will be based at Makulwewa, Kurunegala.The Agreement for setting up of a hospital at Puttalam was signed by Minhas Hospital (Private) Limited. The project represents an investment of Rs.60 million and will provide employment for a workforce of 51. More>>

Lankan exporters receive Presidential export awards

Sunday Times/Sunday, August 26, 2007

Thirty eight Sri Lankan exporters were honoured at the highest level at the 14th Presidential export awards ceremony held in Colombo, after a lapse of 10 years. Presidential exports were presented to exporters who excelled in the non –traditional products and services sector in 2005. Sri Lanka’s leading apparel exporter Brandix received a special award for highest net foreign exchange earner and for the Most Outstanding Exporter in the apparel sector.

Addressing the gathering of top level exporters in the country, President Mahinda Rajapaksa assured that the government will extend every possible assistance to local exporters who have contributed immensely towards the growth of the economy. “Their contribution was 25 percent of the country’s GDP,” he said.

Thirty six exporters have received export concessions from the last budget and they have acquired foreign expertise and know-how with the mediation of the government. President Rajapakse emphasized the need to maintain the brand names of export companies in spite of stiff completion from multinationals.“This is not an easy task,” he said.

The President called on local exporters to explore the possibility to enter into vast Chinese and Indian markets as the trade deficit was heavily in favour of China. He noted that his recent official tour of China had paved the way towards increasing investment and trade.

The President also said the electricity tariff would be reduced after the completion of Norochcholai , Upper Kothmale and Kerawalapitiya power plants. Brandix CEO Ashroff Omar, invited to make a presentation on expanding exports through public-private partnership, said close relations between the two sectors helped the apparel sector to gain successful results. More>>

Footwear industry seeks higher profile

Sunday Times/Sunday, August 26, 2007

By Natasha Gunaratne

The footwear industry which is highly labour intensive clearly has a significant potential for being a key contributor to the economy of Sri Lanka.

Value addition in the footwear sector is between 40 to 50%. The Sri Lanka Export Development Board (SLEDB) in collaboration with the Ministry of Industrial Development and the Sri Lanka Footwear Association is organizing a 'Footwear & Leather Goods & Travel Goods Exhibition' from November 24-26, 2007 to be held in Sri Lanka. The exhibition will consist of approximately 200 trade stalls and around 50 stalls exhibiting raw materials, machinery, components and other services. The SLEDB is planning to invite buyer delegations from Italy, France and other countries to visit the fair.

At present, the industry employs about 20,000 people, directly and indirectly. This includes seven large export companies, 30 medium scale companies and around 3000 small scale manufacturers. A diverse range of modern shoes like canvas and rubber boots, thongs, sports shoes and leather shoes are produced using a variety of raw materials.

The Sri Lankan government has recognized the footwear industry as having a vast export potential which could make large scale contributions to the local economy. Thereby, the government has offered duty free concessions to raw materials, machinery and equipment used for processing and manufacturing leather goods and leather products. Furthermore, the government increased the present cess on imported shoes to safeguard the local industry from the influx of imports.

The European Union (EU) has offered duty free concessions to the footwear and leather products imported from Sri Lanka under their GSP+ scheme. Sri Lanka is the only country in the Asian region which has been offered such a concession. Furthermore, the anti dumping duties imposed on China (19.4%) and Vietnam (16.8%) by the EU would make local products competitive in the international market.

Sri Lankan footwear exporters have already established themselves as supplies of fashion footwear to well known international brands such as Marks & Spencer, Bata France, HH Browns, Clarks, Aerosoles and Nike. Sri Lankan exports of footwear during January to June 2007 were US$9 million, indicating a 42.74% growth compared to the corresponding period in 2006. In 2006, the major export markets for footwear was the United Kingdom at 32%, Italy at 25%, Spain at 12%, the United States at 7% and Japan at 6%. More>>

Sri Lanka-Poland Business Council AGM

Sunday Times/Sunday, August 26, 2007

The Sri Lanka – Poland Business Council of the Ceylon Chamber of Commerce held its seventh Annual General Meeting recently in the presence of Ken Balendra Honorary Consul General of Poland.

With a population of 38 million, Poland is the largest among the 10 countries that joined the EU in 2004. The Polish economy has been growing at a steady pace of over 5% annually, driven by FDI EU Development Funds, as well as remittances from foreign employment.

This has improved the real wages and income of the Polish people resulting in greater purchasing power, said Nirmali Samaratunga, President, Sri Lanka – Poland Business Council. She said Poland could be considered as a very potential market for Sri Lanka exports as well as for tourism.The following were among those elected to the Executive Committee for the period 2007/2008: Nirmali Samaratunga (Mackwoods Ltd) - President, Claude Perera (Mabroc Teas) - Vice President and Kumara Semage (Semage & Co. Ltd) - Vice President. More>>

Myanmar chamber team here

Sunday Times/Sunday, August 26, 2007

A high powered trade delegation from Myanmar is expected in Sri Lanka led by Win Myint, President Myanmar Federation of Chambers of Commerce.

The delegation is due to meet the Federation of Chambers of Commerce and Industry of Sri Lanka tomorrow at the FCCISL Auditorium. The Myanmar trade delegation would include 11 members who are entrepreneurs of various business fields in Myanmar. The FCCISL said they are making arrangements for members of Sri Lanka’s business community to meet the visitors. More>>

President pays tribute to exporters

Daily News/Friday, 24 August 2007

Rohan Mathes

COLOMBO: President Mahinda Rajapaksa reiterated that despite the ongoing conflict, his Government will utilise all means at its disposal and lend its fullest support to the unrelenting exporters who have contributed around 25 per cent of the country's GDP.

Addressing the most prestigious event of the country's Exporter fraternity, the Presidential Export Awards 2005 at the Presidential Secretariat in Colombo yesterday, President Rajapaksa said, "we as a Government of a small country fighting a war, has never ever forsaken our exporters who have relentlessly fought under severe constraints of fierce global competition and economies of scale, to achieve commendable success".

"We have already fulfilled the promises made to the exporters in the Mahinda Chintanaya and provided a host of concessions to them in the last Budget. We have offered them exposure with the manufacturers. Thirty six exporters have received export concessions to the value of rupees 10 million allocated from the last budget and they have also obtained foreign expertise and know-how", he said.

The President maintained that he was fully aware of the problems encountered by the exporters who had an arduous task of producing quality goods which could be sold at affordable rates in highly competitive global markets. More>>

Market positive with foreign trading

Daily News/Friday, 24 August 2007

The Bourse picked positively at the end of the day with heaved participation of foreign buyers to the equity turnover. There was mixed trading reported from blue chip companies as well as ordinary companies, its sources said.

The All Share Price Index went up by 7.50 points and closed at 2462.6 while the Milanka Price Index up by 16.26 points closed at 3341.The number shares traded in volumes were 10.8 million shares.

During the day the total equity turnover was Rs 384.7 million out of which Rs 273.9 million contributed to the turnover by foreign investors. The local investors contributed Rs 110.8 million to the turnover by local investors, its sources said.

The heavily traded stocks were Tess Agro (2.62 million), John Keells (2.02 million), Ceylon Leather Products (1.13 million) and Ceylon Glass (0.37 million). More>>

Akbar Brothers win three Presidential Export Awards

Daily Mirror /Friday, 24 August 2007

The Akbar Brothers Group won three top Presidential Export Awards at a ceremony held at the Presidential Secretariat yesterday. The Awards were handed over by President Mahinda Rajapakshe for the Group’s outstanding export performances.

Being one of the country’s leading exporter of tea the company was awarded the Special Award for the “Best Sri Lanka Brand Exporter”, the Special Award for the “Exporter to the highest number of Destinations” and the Merit Award for the “Exports of tea in Value-added Form” were the Three Awards won by the Group.

Commenting on the Awards, Akbar Brothers Group of Companies Chairman Abbas Akbarally said, “It is indeed a great honour for us to receive these awards from the President. The Awards bear testimony to the Company’s relentless pursuit of adding values to the exports of Sri Lanka Teas by branding, quality improvement and continuous innovations. It also exemplifies the commitment and dedication of our employees at all levels and the continued support from our customers worldwide”.

The Akbar Brothers Group markets 44 million kilograms of tea annually. In terms of cuppage, sixty million cups of Akbar Brothers tea products are consumed on a daily basis worldwide. This consumer coverage which extends to over 70 countries has made the Akbar and Alghazaleen Brand tea products truly global brands today. In order to compete on equal footing with packers overseas, the Company has moved away from blending and packing teas by a manual process to a technologically driven fully automated blending and packing operation with enormous investments in production facilities for tea bagging and packaging operations. More>>

Brandix wins top honours at Presidential Export Awards

Daily Mirror /Friday, 24 August 2007

Adjudged Highest Net Foreign Exchange Earner and Most Outstanding Apparel Exporter

Sri Lanka yesterday honoured its top apparel exporter Brandix with two Presidential Export Awards for its contribution to the national economy in 2005.

The Brandix Group received the special award for ‘Highest Net Foreign Exchange Earner in 2005’ and was also named the ‘Most Outstanding Exporter in the Apparel Sector’, at the Presidential Export Awards yesterday.

The two awards were presented by President Mahinda Rajapakse to Brandix CEO Ashroff Omar and Director Feroz Omar at a ceremony held at the Presidential Secretariat.

Commenting on these latest accolades, Mr. Ashroff Omar said: “The Presidential Export Awards are a great source of encouragement to us at Brandix because they represent an acknowledgement at the highest level of the value of our contribution to the apparel sector and to the country.”

“Brandix has positioned itself as the inspired solution for branded clothing and is aggressively investing in new growth to meet the challenges of the post-quota regime,” he said. “Awards such as these are an endorsement of the success of these efforts.”

As part of the event’s agenda Mr. Omar was invited to make a presentation on ‘Furthering Exports through Public/Private Sector partnership.’ More>>

Presidential Exports Awards 2005 today

Daily News /Thursday, 23 August 2007

The Presidential Exports Awards 2005 will be held today (23) at the Presidential Secretariat under the patronage of President Mahinda Rajapaksa and the Minister of Export Development and International Trade Prof. G.L Peries.

Selected 40 exporters from different sectors such as agriculture, apparel, electrical, handicrafts and ceramics will receive awards and Merit Certificates today.

Five additional awards will be awarded to the highest net foreign exchange earner 2005, best SME enterprise 2005, Sri Lankan exporter of the year, exporter of the highest number of destinations 2005 and the best Sri Lanka Board Exporter 2005. More>>

Akbar Brothers feted

Daily News /Thursday, 23 August 2007

The Akbar Brothers Group won three Presidential Export Awards at a ceremony held at the Presidential Secretariat recently. The awards were handed over by President Mahinda Rajapaksa for outstanding export performance.

The special award for the ‘Best Sri Lanka Brand Exporter’ the special award for the ‘Exporter to the highest number of destinations’ and the merit award for the ‘Exports of tea in value-added form’ were the three awards won by the Group.

Akbar Brothers Group markets annually 44 million kilograms of tea. More>>

The World of Hayleys from a ‘small coconut tree’

Daily News /Thursday, 23 August 2007

Hayleys has been the winner of the Best Corporate Citizen awards presented by the Ceylon Chamber of Commerce, three years in a row and also has the world at its ‘call’ through internationally- recognized activated carbon products, hand protection gloves, textiles and transportation.

Hayleys chairman N.G. Wickremeratne said “There are many sectors of our business – activated carbon, hand protection, textiles and transportation, which deliver excellent quality and absolutely first-rate products to global markets.”

“Each of these businesses has its own identity and personality. Without detracting from these, we wanted an appropriate means of positioning Hayleys across all of its businesses.” he said in a recent interview.

Hayleys is Sri Lanka’s biggest multinational conglomerate with businesses in fibre, hand protection, purification products, textiles, agri-inputs, agri-products, plantations, industry inputs, power and energy, transportation, consumer products and resorts, areas in which the Group is renowned, both locally and globally.

“The purpose of the re-branding was to channel much of what was great in the past into a new expression which is modern and relevant to stakeholders today,” Wickremeratne said.

The search for a new identity began with &Brand, the branding specialists, being called into help the Group in conceptualizing a new brand and strategic direction. The net result: The coconut tree logo being transformed into ‘The World of Hayleys’ with the focus on green. More>>

All set for ‘Facets 2007’

Daily News /Thursday, 23 August 2007

Ruzaik Farook

Sri Lanka 2007 one of South Asia’s premier International Gem and Jewellery Shows, will be held from August 30 to September 2, for the 17th consecutive year at the BMICH.

“FACETS Sri Lanka” is the most important event in Sri Lanka’s Gem and Jewellery Calendar where more than 1,000 foreigners visit in addition to the large number of locals over a four day period.

From small beginnings at the Hilton Hotel, the organisers were compelled to move it to the BMICH due to the large number of visitors and due to the demand from the growing number of stall holders.

The BMICH has now reached capacity too, which is food for thought for a very supportive Ministry of Enterprise Development and Investment Promotion.

This much awaited show offers an opportunity and exposure to all local exhibitors to present their products to the world. From past experience the world’s best known buyers of genuine precious stones and gems muster strong in Colombo, come September.

The other important factor is that there are a fair number of retailers participating and that enables the average people to visit and make their purchases of jewellery, for any and all occasions, be it as gifts or investments.

The Sri Lanka Gem and Jewellery Association is supported by the National Gem and Jewellery Authority and the Sri Lanka Export Development Board. More>>

Customs for customer-friendly period

Daily News /Thursday, 23 August 2007

Hiran H. Senewiratne

The Sri Lanka Customs has declared a customer friendly period from August 01 to September 30 to identify problems and issues including shipping with the SL Customs, its sources said.

The shipping sector is also having many constraints and problems and Customs authorities expect to address those in harness with shipping community, the sources also said.

This period was declared at the request of the Ministry of Finance. The Sri Lanka Customs plays a key role in import and export sector. Therefore this period is important for the public and for the import and export stakeholders including trading community to discuss issues, complaints and suggestions on the entity, Director General of Sri Lanka Customs Sarath Jayathilaka said.

He said that regarding the decision they have a good response from various stakeholders and public. Customs consider that this opportunity is vitally important to realise what the public needs.

Jayathilaka said that they have opened a 24-hour special information unit to facilitate the public to respond to their issues. Annually Sri Lanka Customs handles more than 300,000 Custom declarations. More>>

Brandix forecasts rapid growth and greener operations

Daily News /Thursday, 23 August 2007

Winners: Brandix Chairman Ken Balendra with the winners of the Vendor Summit of the Year awards for Textiles and Accessories.

Sri Lanka’s apparel sector inspiration Brandix is planning to grow into a US$ 500 million business “very fast” while going greener by reducing its carbon footprint by 25 per cent over the next five years, and raising its on-time delivery to 95 per cent in the year ahead.

The country’s largest apparel exporter whose 2006-07 revenue topped US$ 320 million told suppliers last week that the Group had witnessed growth of 14 per cent up to June 2007 and would continue to aggressively invest in new growth in the current year.

Addressing a Vendor Summit attended by some 180 leading suppliers at the Waters Edge Golf Club, Brandix CEO Ashroff Omar said, the Group is focusing on creating a compelling offer to retailers with the support of its suppliers.

Towards this end, Brandix had begun sharing its key performance indicators and its customer calendar with suppliers to improve visibility and ensure that suppliers share in the challenges, he said.

Stressing that the retail environment is getting tougher in the apparel industry, Omar pointed out that at the same time, the environment was becoming an important factor in the supply chain.

Unpredictable weather patterns and climatic changes had added another dimension to the business with seasonal clothing being outpaced by unexpected changes in the weather in the retail markets, he said. More>>

Lanka using only 30 p.c. of GSP+ concessions

Daily News /Wednesday, August 22, 2007

Anjana Samarasinghe

Sri Lanka is using only 30 per cent of the GSP+ concessions granted by the European Union (EU) in 2005.

Speaking at a press conference to announce Sri Lanka’s Footwear and Leather Goods Fair, Export Development and International Trade Minister G.L. Peiris said the EU has offered duty free concessions to a large number of products imported from Sri Lanka under the GSP+ scheme but Sri Lanka was only using 30 per cent of the concessions.

Most of the local exporters are not aware of these duty free concessions applicable to over 7,000 products exported to the EU from Sri Lanka and the utilisation of these concessions is at a low level.

These concessions are valid till 2008 and Sri Lanka is negotiating with the EU to extend the time period till 2011.

The Minister was optimistic that Sri Lanka could have these concessions, granted owing to good labour practices, till that year.

The Minister also said that footwear exports have increased by 42.7 per cent during the first half of this year. The total exports earnings though this sector were US$ 9 million during this period.

Sri Lanka’s major markets are Europe, USA and Japan. The country supplies footwear to international brands such as Marks & Spencer, Bata France, H.H Browns and Nike.

Footwear industrialists have emphasised the importance of manufacturing footwear components in Sri Lanka. Industrialists also said that there is no pricing policy in the Pettah market for the materials, which has a negative impact on the industry. More>>

Business Chamber News

Daily Mirror /Wednesday, August 22, 2007

To create a gateway to Middle Eastern markets for mission members:

Ceylon Chamber in mission to Saudi, Bahrain and Oman
The Ceylon Chamber of Commerce (CCC) Trade Fair Unit will go on a business promotion mission to Saudi Arabia, Bahrain and Oman scheduled from August 30 to September 6.

This mission is initiated at the invitation of the Riyadh Chamber of Commerce and Industry (RCCI). During the visit of Al - Athel, Secretary General of RCCI to Sri Lanka in June to participate at the Economic Summit organized by the CCC, both parties agreed to enter into a bilateral co-operation agreement.

The MoU was signed on June 7 and Al - Athel in his address extended an invitation to the CCC to lead a business delegation to Riyadh. Keeping in line with the objectives of the MoU the CCC decided to organize a mission to Riyadh and to add value to its members thought it fit to include Bahrain and Oman too.

The Ceylon Chamber of Commerce (CCC) Trade Fair Unit, which was set up in 2002, during its five years of existence, has made great progress in assisting its members in venturing into potential emerging markets.

‘This unit was set up with the objective of giving a helping hand, mainly to the members who needed our support in emerging into new markets and we are proud to say that we have achieved our goals by organising business promotion missions to over 20 countries. More>>

Brandix to become a US$500 m business “very fast”

Daily Mirror /Wednesday, August 22, 2007

Sri Lanka’s Largest Apparel Exporter Goes Green; Brandix Forecasts Rapid Growth and Environmentally-friendly Operations

Sri Lanka’s apparel sector inspiration Brandix is planning to grow in to a US$ 500 million business “very fast” while going greener by reducing its carbon footprint by 25 per cent over the next five years, and raising its on-time delivery to 95 per cent in the year ahead.

The country’s largest apparel exporter whose 2006-07 revenues topped US$ 320 million told suppliers last week the Group had witnessed growth of 14 per cent up to June 2007 and would continue to aggressively invest in new growth in the current year.Addressing a gala Vendor Summit attended by some 180 leading suppliers at the Waters Edge Golf Club, Brandix CEO Ashroff Omar said the Group is focusing on creating a compelling offer to retailers with the support of its suppliers. Towards this end, Brandix had begun sharing its key performance indicators and its customer calendar with suppliers to improve visibility and ensure that suppliers share in the challenges, he said.

Stressing that the retail environment is getting tougher in the apparel industry, Mr. Omar pointed out that at the same time, the environment is becoming an important factor in the supply chain. Unpredictable weather patterns and climatic changes have added another dimension to the business with seasonal clothing being outpaced by unexpected changes in the weather in the retail markets, he said. More>>

Seminar on the New Companies Act

Daily Mirror /Wednesday, August 22, 2007

The new companies act clearly sets out duties responsibilities and accountabilities, lists civil and criminal liabilities with significantly increased penalties and also has sections where the director can be held personally liable to creditors and banks. The penalties for non compliance with the act are also steep. It must be noted that most sections of the act including the heavy fines and penalties also apply to private companies The Sri Lanka Institute of Directors has recognized that it is important that all directors should be familiar with the new law especially to avoid possible high penalties for non compliance and is organizing a seminar on the new companies act on 5th September, at King’s Court, Trans Asia from 3.00 p.m to 6.00 p.m.

The seminar will focus on directors responsibilities and accountabilities and cover the following sections:

Dr. Harsha Cabral, President’s Counsel, Desamanya Deva Rodrigo, Imm. Past Chairman, Ceylon Chamber of Commerce will be the speakers. The seminar will be moderated by Dr. Wickrema Weerasooria, Insurance Ombudsman. The panelists are Mr. Preethi Jayawardene, Managing Director Chemanex Ltd., Mr. Sujeewa Mudalige, Partner PricewaterhouseCoopers and Mr. D. K. Hettiarachchi, Registrar of Companies. More>>

Energy efficient fans to save millions for tea industry

Daily News/Tuesday, 21 August 2007

Ramani Kangaraarachchi

This was decided at a forum organised by the Tea Research Institute, and Plantation Development Project to discuss the issues arising due to the rising fuel and energy cost.

Chairman TRI Dr. Gerry Jayawardena said it was for the first time that owners of 600 tea factories ,Tea Planters Association, Finance managers and the TRI met and shared their experiences on this issue and the progress will be monitored subsequently.

Deputy Chairman Forbes and Kahawatte Plantation Dan Seevaratnam said all the companies as an industry has a social responsibility towards this national issue. He said that there is a huge potential in this industry to manufacture these fans and a large number of skilled and unskilled employment generation up to installation and monitoring of the fans.

At present 400 factories will need a minimum of ten fans each and the maximum number required would be 5,000. Already 500 fans have been replaced. The cost per fan will be Rs 50,000 to 60,000 and they can be locally produced.

Therefore it is a great leap forward and a win win situation for the country and the industry as using oil has become a huge burden to the national economy, he said. The Tea smallholders who contribute 60 per cent to the industry also will be benefited by this.

Acting Officer In-Charge of the TRI Technology Division K. Ravindran said the electricity consumption in the tea sector comes to Rs.2,450 million per year and 61.3 per cent of the total electricity consumption goes for withering and this high cost on power for withering comes to Rs 4.50 per kilo.

He pointed out that cost of production could be reduced by Rs1.78/kgMT at Rs9.72 /kWH)by installing Variable Speed Devices (VSD)in withering troughs.

The participants were educated on the new trend and relevant matters by Plantation Development Project Director R.M. Premadasa, Head of Operations, Tea Smallholder Factories Dr Sarath Samaraweera and CEO,Energy Conservation Fund Harsha Wickramasinghe. More>>

US restores Eastern markets as economic and social centres

Daily News/Tuesday, 21 August 2007

Partnership with Hellenic Aid at Anuradhapura Junction:

The US Agency for International Development (USAID), in partnership with Hellenic Aid, broke ground this week on a project to rebuild the Anuradhapura Junction Market that promises to restore the market as a centre for commerce and a place of social interaction.

US Embassy Deputy Chief of Mission James R. Moore, along with Trincomalee Government Agent Major Gen. T. T. R. Silva and Trincomalee Urban Council Chairman S. G. Mugunthan, inaugurated the market, which is being restored under a grant to the Czech Republic-based humanitarian NGO People In Need and co-funded by Hellenic Aid, the development arm of the Greek Government.

"The US Government is proud to be able to contribute to the refurbishment of this market, which is important to the economic and social life of Trincomalee," Moore said at the groundbreaking.

"The coming months and years will be a decisive and an exciting period for Trincomalee and the East.

We hope there will be new opportunities for people of all communities - Tamil, Muslim, and Sinhalese - to share in development, exercise their democratic rights, pursue their livelihoods, and build a brighter future," he said.

The project was developed following a consultative process with Government officials and local residents who identified the market as a top priority. More>>

Business Global Scene

Daily News/Tuesday, 21 August 2007

'Asia's economy robust despite plunging shares'
Ten years ago the crumpling of Asia's paper tiger economies sent shockwaves across the globe, but this time the region is being pummeled by a crisis that is "Made in the United States".

Plunging Asian share prices have again raised the spectre of a financial crisis, but analysts say the region's economies are healthy and can weather the current crisis triggered by woes in the US mortgage market.

"The Asian market fell because of somewhere other than Asia," said Dong Tao, the chief economist at Credit Suisse. "This is a US problem and Asian fundamentals remain strong."

He was referring to parts of the giant US mortgage market, where defaulting borrowers and falling house prices have caused concern on Wall Street about a possible seizure of the financial system.

The uncertainty rippled through the world's stock markets, including in Asia, but a move by the US central bank on Friday to ease one of its interest rates assuaged some of the concerns in the US and Europe.

That could help sentiment in Asia too, where the recent sell-off has put investors in mind of the 1997 financial crisis. More>>

Need for economic growth stressed:

FCCISL to minimise barriers for export to SAARC countries

Daily News /Monday, 20 August 2007

The Secretariat dealing with SAARC Chamber of Commerce and Industry (SCCI) - The Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) are calling on all those who have encountered any difficult experiences specially those who have encountered such experiences while dealing with exports, trade and industry with SAARC countries.

This is to minimise barriers for export to SAARC countries as well as to clear the barriers for travel etc among SAARC countries.

Director, SAARC and International Affairs, FCCISL Hildon U. Hamangoda, said according to data they have compiled trade among SAARC countries is less than five percent of the total trade of the region with the rest of the world. But other regional blocs are showing much bigger volumes of intra-regional trade.

For instance the North America Free Trade Agreement intra-regional trade is over 50% and ASEAN countries have over 20% trade among its member countries. The Intra-SAARC trade is dismally low as compared to other regions. The trade and economic activity needs to be increased.

He said that 14 percent of the world’s population live in the SAARC Region and SAFTA, the world’s largest Free Trade area also lies in this region.

Unfortunately intra-trade among SAARC countries is only five percent, while this figure in the NAFTA, North America Free Trade Agreement is over 50 percent and in ASEAN countries it has grown to over 20 per cent. More>>

Karnataka trade delegation visits FCCISL

Daily News /Monday, 20 August 2007

A high-level trade delegation from Karnataka, India was in Sri Lanka for one week’s visit, which included 50 leading entrepreneurs from six Indian Trade Organisations.

The organisations represented are: Karnataka Chamber of Commerce and Industry, Association of Women Entrepreneurs, Karnataka; Consortium of Electronic Industry of Karnataka, Goa Chamber of Commerce and Industry, Confederation of Women Entrepreneurs of Hyderabad and Representatives of ZDH/SEQUE partnership programme of India.

The Indian trade delegation visited the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) and they also participated and conducted trade stalls at the SAARC Women’s Trade Fair held in Colombo, organised by the Sri Lanka Women’s Chamber of Industry and Commerce.

FCCISL facilitated the signing of a Memorandum of Understanding between the Tsunami affected “Galle District Women Entrepreneurs Chamber” affiliated to the FCCISL and the Confederation of Women Entrepreneurs of Hyderabad, India.

The MOU was set up to strengthen bilateral trade and investment for the benefit of their members and to facilitate realisation of strategic partnerships and to exploit trade opportunities and to promote economic cooperation in a mutually beneficial manner.

The Indian Women Entrepreneurs Chambers are planning for a big Trade Fair in South India aimed at the women entrepreneurs in the SAARC Region, which would be held towards the end of this year. More>>

Sri Lanka and Africa battle for garment access to the US

Daily Mirror /Monday, 20 August 2007

August 19, 2007 (LBO) – Sri Lanka’s apparel exports to the United States could get hit if African countries block proposed tariff cuts on exports from developing countries.

Bulk of Sri Lanka’s trade falls under World Trade organization rules – an international body that is working to put in place a rule based global trading system.

Tariffs continue to be a significant barrier in world trade. Under the WTO’s last Doha round of negotiations, countries worked out modalities for getting greater market access for non-agricultural goods from developing countries.

Called NAMA or Non-Agricultural Market Access, this agreement covers all products not covered by agricultural agreements at the WTO. Among the proposals are to bring down developing country tariffs for 16 apparel tariff lines.

Sri Lanka’s top negotiator says however, opposition by African countries to the proposed tariff cuts could block potential gains for Sri Lanka under NAMA.

Currently, African countries have duty free access into the US, while other comparatively richer countries like Sri Lanka pay heavy duties to access the lucrative US market. More>>

Tea Report:

Daily Mirror /Monday, 20 August 2007

Bartleets weekly tea surveillance up to August 15
THIS week a total quantity of 6.22 m kg arrived as compared to last week an increase of quantity of 0.07 m kg was sold at the Colombo Auction. Out of this the ex estate were 0.82 m kg which is an increase of 0.03 m kg.

The Pekoe market has continued to drop. One of the reasons could be that Turkey recently held national elections, the results of which could lead to regulations that can affect future demand and prices.

On the ex-estate segment, unhealthy weather conditions are once again leading to lower quality that is also affecting demand. In the Tippy market, fair demand has been recorded. Iran and Dubai have been very active whilst the CIS and Saudi Arabia have recorded moderate buying.

A new Online Export Documentation system has been installed for the Sri Lanka Tea Board and it is hoped that it will fast-track the tea industry into a fully electronic transference procedure with cutting-edge technology.

The new electronic transfer system promises to cut down manual transport costs and halve the processing time it takes for tea export CUSDEC forms to be approved, as well as providing a much-needed element of security.

As Sri Lanka is a leading tea exporter in the world, with tea exports making up 25 per cent of the countries export earnings, this development is certainly a significant one.

So far only forty of the 270 tea exporters have utilised the system even though the technology promises to reduce workload and greatly reduce processing time. According to the source, normal transfers that take days took just 23 minutes with the new system. More>>

Efforts to improve coir industry

Sunday Times /Sunday, Augest 19, 2007

The Industrial Development Board (IDB), in association with the Industrial Services Bureau (ISB), and ILO Enter-Growth conducted several interviews and workshops with coir industry stakeholders, using a new approach to value chain development.

The main findings and proposals were presented earlier this month at a workshop in Negombo. By presenting the results of its value chain research, the initiative has completed stage one and is now entering stage two, which will see the implementation of the proposals, a press release from the organisers said.

A temporary value chain steering group, consisting of private and public stakeholder relevant for the coir industry, has been set up to prioritise and discuss the details of implementation.

The first meeting of the group will be held on September 16. The programme was aimed at developing the coir sector in the North-Western Province through its Value Chain Development for more competitiveness and decent work.

The release said the coir industry faces many challenges which need to be overcome in order to remain competitive in the global market. For instance husk supply collection remains too weak to meet the increasing demand for coir fibre, coir extraction from the husk still poses a high health risk and affects labour recruitment and productivity while opportunities to produce value-added coir products at rural level are not fully exploited. More>>

MAS starts work on first model eco manufacturing plant

Sunday Times /Sunday, Augest 19, 2007

MAS has begun construction on its model eco manufacturing plant to produce lingerie exclusively for Marks & Spencer (M&S) at MAS Fabric Park, Thulhiriya.

Earlier this year, MAS announced its commitment to support UK retailer M&S in the implementation of its Plan-A initiative - a £200 million, 100-point plan in which M&S aims to make its operations in the UK and Republic of Ireland carbon-neutral by 2012; ensure no waste is sent to landfill from its UK and Irish stores and offices; extend sustainable sourcing; set new standards in ethical trading and help its customers and employees choose a healthier lifestyle.

The factory will be a 110,000 square foot state-of-the-art facility that will manufacture bras exclusively for M&S.

M&S will support the development of the factory by providing advice on sustainable construction through its experience in store development and the creation of its ‘green’ stores in the UK. It will also provide sponsorship for the architects design costs.

The facility will be surrounded by green-belts with introduction of native or adapted flora and endemic plants, as part of a comprehensive bio-diversity plan. Incentives will also be offered to management and employees to promote the use of bicycles and reduce fuel consumption. More>>

Sri Lankan brand to score in Asian markets

Sunday Times /Sunday, Augest 19, 2007

The Sri Lanka Institute of Marketing (SLIM) said last week it would be introducing the ‘Effies’ – an internationally recognized awards scheme allowing Sri Lanka to participate at a regional level in the context of its advertising awards.
SLIM President Sarath Fernando, who made these comments during the course of the launch of SLIM Brand Excellence 2007 to be held later on this year, didn’t give details.

Referring to SLIM’s involvement in international bodies, Fernando said Sri Lanka was once given the Presidency of the Asian Marketing Association.

“Are we going to stop there?” he asked, adding that the President of the World Marketing Association had already appointed a SLIM Sri Lanka member, to the Steering Committee of the WMA, to spearhead its revival.

Fernando, who commented in a press release on the launch, said Asia is very important to Sri Lankan brands. “Asia is very young. If you take the population of Asia, more than 50% are below 20, which means there’s a lot of opportunity for Sri Lankan brands to enter the Asian market first, which is two-thirds of the world’s population, and earn profits and make the Sri Lankan mark in the region.” More>>

Presidential Export Awards on August 23

Daily News /Friday, August 17, 2007

T. K. Premadasa Deputy Director/Marketing Sri Lanka Export Development Board

The Sri Lanka Ex-port Development Board after nearly a decade has now taken action to reintroduce the prestigious Presidential Export Awards.

The presentation of awards will take place at the Presidential Secretariat on August 23 in recognition of the exemplary record of performance displayed by those exporters during the period over last few years.

President Mahinda Rajapaksa will be the chief guest.

The introduction of Presidential Export Award again is a significant effort taken by the Sri Lanka Export Development Board which comes under the purview of the Ministry of Export Development and International Trade encouraging the entrepreneurs to develop their skills in ameliorating the standard of export production under Mahinda Chinthanaya to be competitive with the International Market.

The national policy based on Mahinda Chinthanaya emphasizes the importance of the role played by the business community to help build the national economy unhesitatingly supported by the government with requisite assistance.

The Presidential Export Award is the highest prestigious award presented by the nation to the export production par excellence quality in recognition of the professional competence exhibited by the export community in boosting the national economy.

Presentation of the award signifies the appreciation of their demanding progression and outstanding achievements in the export development trade. More>>

NCC Handicrafts Fair

Daily Mirror /Friday, August 17, 2007

A Handicrafts Fa- ir organised by the National Crafts Council will be held on The National Art Gallery, from August 18 to 21. The Exhibition and Crafts Fair will be opened by Minister of Rural Industries and Self Employment Promotion S. B. Nawinna at 10.00 a.m. on August 18.

The NCC has organised a series of handicraft fairs throughout the country to promote traditional handicrafts and improving the living conditions of craftsmen. This is the third handicrafts exhibition and crafts fair to be held in the National Art Gallery Colombo.

Over 100 craftsmen and weavers will participate this fair. A variety of handicrafts ranging from silver, jewellery, brass, bathik, Dumbara mats, wood cravings, rush and reed, mask, embroidery, lace, handloom textile and many more consumer crafts will be shown.

The fair will open avenues for craftsmen to sell their products without middlemen and consumers to buy their handicraft products of quality at a reasonable price. More>>

Exports growth improve trade balance in June

Daily Mirror /Friday, August 17, 2007

The Central Bank yesterday highlighted that the higher growth in exports in June had continued to improve the month’s trade balance.

Exports grew by 6.8 per cent to US dollars 675 million in June 2007. The growth in apparel exports was modest in June 2007, following the strong performance recorded in May 2007. Food and beverage exports increased in June 2007 reflecting resumption of exports of vegetable fats and oil preparations under the Indo-Sri Lanka Free Trade Agreement.

The noteworthy developments in the rubber based products continued to be featured in the industrial exports. Despite low volumes, higher prices of tea led to increase in tea exports in June 2007. The cumulative exports during the first half of 2007 grew by 12.9 per cent from US dollars 3,162 million in 2006 to US dollars 3,569 million in 2007.

Imports declined in June 2007 followed by the highest monthly value recorded in May 2007. Imports in June 2007 declined from US dollars 940 million in 2006 to US dollars 832 million. Lower imports of petroleum, fertilizer, textile materials and other consumer goods led the overall decline in imports.

Petroleum imports declined by 39.8 per cent in June 2007 registering a decline of 7.8 per cent during the first half of 2007. In consumer goods sector, the food and beverage category recorded a significant growth. Investment goods increased marginally, benefiting from higher imports of transport equipment and building materials. Imports during the first half of 2007 grew by 3.9 per cent, while non-oil imports increased by 7.1 per cent.

Higher growth of exports over the growth of imports continued to improve the trade balance in June 2007. The trade deficit reached US dollars 157 million in June 2007 compared to deficit of US dollars 308 million in June 2006. More>>

Kompass to launch new purchasing tool

Daily Mirror /Thursday, August 16, 2007

Kompass Sri Lanka will be launching a new purchasing tool that could be transmitted via the internet to enhance business operations.

Kompass Sri Lanka has launched its state of the art business promotional mediums that give immense exposure for the Sri Lankan businesses for the eighth consecutive year.

KOMPASS International - established in Switzerland in 1947, and has serviced both business and industry for 60 years. The Group is now represented in 75 countries in all continents worldwide, and employs over 3000 people.KOMPASS RFQ System, a new purchasing tool to be introduced into Sri Lanka: Mr. Sumitha Wijesinghe, Joint Managing Director KOMPASS Sri Lanka is pleased to announce the launching of a new tool for Sri Lankan companies, which is the ‘Request for Quotation (RFQ)’, which could be transmitted via the world wide web in a matter of minutes both locally and globally, details of this launch will be announced shortly. The System could be accessed through a variety of media using a unique multilingual product and service classification, this system builds an easy Link for buyers and sellers globally. KOMPASS is the name of a system for the compilation, production and supply of “Business 2 Business” information, either in printed or web form. This is a “state-of-the-art” sophisticated system conceived and created to better serve its customer base and is continuously improved and developed since then by specialists in the field of Information Technology.More>>

Rupee at new low as importers buy dollars

Daily Mirror /Thursday, August 16, 2007

COLOMBO, Aug 15 (Reuters) - Sri Lanka's rupee weakened a shade to a new all-time closing low for a fifth day running on Wednesday as importers bought dollars to settle trade bills, while the stock market rose slightly, dealers said.

The rupee ended at 111.96/112.02 per dollar, just surpassing the previous life low of 111.96/112.00 hit on Tuesday. The local currency has hit a series of new all time lows in recent months.

"Importer demand came from oil and petroleum cargo importers. The higher demand is exerting pressure on the rupee very much," said one currency dealer.

Some analysts expect the rupee to weaken to as much as 118-120 per dollar by the end of the year. Others are eyeing 114 per dollar. The rupee has depreciated over 4 percent so far this year, after weakening by around 5 percent in 2006.

The rupee is steadily depreciating mainly due to trade-related moves in an economy that runs a hefty trade deficit because of costly fuel imports and the impact of inflation, which quickened to 17.2 percent in July as measured on a 12-month rolling average -- near 1994 highs.

The Colombo All Share index closed 0.2 percent higher at 2,424.93 points, a rise of 4.77 points.

Bourse heavyweight and No.1 mobile phone operator Dialog Telecom ended flat at 22.25 rupees a share as calculated on a weighted average close, while leading fixed-line operator Sri Lanka Telecom also closed unchanged at 32.50 rupees. More>>

East offers abundant scope for German private sector - Prof. G.L. Peiris

Daily News /Wednesday, 15 August 2007

The opening of the Eastern Province after more than 10 years now paves the way for development activity on a considerable scale, Minister of Export Development and International Trade Prof. G.L. Peiris told the Round Table Business Meeting with members of the Asia Pacific Business Association in Hamburg.

Minister Peiris said that German companies had been accustomed for a long time to engaging in business in Sri Lanka, and today the country has many companies with substantial German investment.

Prominent German business establishments are already showing eagerness in making use of opportunities in Sri Lanka today, the Minister remarked, adding that entrepreneurs of the calibre of Michael Mros, Senior Manager of Lidl Deutsch (one of the largest retail food chains in Germany) and Thomas Stillmann, Managing Director of Windrose Air, had met him, at one-to-one meetings in Berlin, to discuss their plans for coming into Sri Lanka.

Minister Peiris provided the German business community with detailed information relating to the decisive advantages accruing from investment in Sri Lanka, especially because of the Free Trade Agreement in operation between Sri Lanka and India.

He explained that German companies investing in Sri Lanka and complying with the criteria applicable to value addition have the benefit of access to the markets of the subcontinent without payment of duty in respect of extensive categories of items. More>>

Monetary Policy Review August 2007:

Export earnings rise in first half

Daily News /Wednesday, 15 August 2007

The improved performance in the external sector in 2007 reflected in both higher trade and financial flows. Export earnings grew by 12.9 per cent during the first half of 2007 underpinned by the highest monthly value in 2007, US dollars 675 million in June, the Central Bank said yesterday.

Meanwhile, impo- rts declined by 11.5 per cent in June due to the decline in imports of petroleum, fertilizer, textile material, and other consumer goods resulting a relatively lower import growth of 3.9 per cent for the first half of the year.

The negative growth in imports against a background of rising exports caused to improve the trade balance further by end June 2007. Worker remittances, the second highest foreign exchange earner to the country, increased by around 18 per cent to US dollars 1.3 billion during the first half of 2007 helping to finance over 80 per cent of the trade deficit in the first half of 2007.

The reduction in the trade deficit and worker remittances would have favourable impact on current account balance for the first half of 2007. The balance of payments has recorded an estimated surplus of US dollars 161 million by end July 2007, while the gross official reserves has been estimated at US dollars 2.7 billion or 3.1 months of imports. More>>

Tea seminar

Daily News /Wednesday, 15 August 2007

The Tea Research Institute and the Plantation Industry Development Project will organise a seminar to discuss issues in the tea sector due to the rising fuel and energy cost.

The seminar will be held at the 9.00 a.m on August 20, at Hector Kobbakaduwa Institute Colombo. Twenty chief executive officers of plantation companies representing 600 tea factories have been invited to share there experiences. More>>

Worldwide benchmark:

Daily News /Wednesday, 15 August 2007

Business Superbrands selection begins
Superbrands, the independent authority which promotes the discipline of branding and pays tribute to exceptional brands, having formed its Business Superbrand Council in Sri Lanka has commenced evaluating a short list of 500 + business to business brands.

These brands are those which primarily market their products and services to other businesses. Amongst the categories being evaluated are companies operating in the apparel industry, logistics providers, export manufacturers who provide raw material or finished products to international businesses, infrastructure developers, the packaging industry, printers and software developers to name a few.

“We are evaluating a totally different group of companies who did not come under our inaugural Consumer Superbrand programme. What we are after here, is to identify those brands which have excelled in their specialised fields of business by providing products or services to other businesses”, Director Marketing of Superbrands, Sharmilla Cassim said. More>>

WICKramarachchi to enter Bangladesh market

Daily News /Wednesday, 15 August 2007

Shirajiv Sirimane

J. M. WICKramara- chchi and Co. will be setting an up and branch in Bangladesh soon, mainly to promote Cochlear implant programme.

Cochlear implantation is a recognized and accepted medical procedure for the treatment of severe to profound sensorineural hearing loss (SNHL) in both children and adults.

The cochlear implant is a surgically implanted electronic device that provides individual with the sensation of hearing by bypassing the damaged part of the inner ear. It is recommended for individuals who obtain limited or no benefit from traditional hearing aids.

Many people in Bangladesh has heard about the success of this program and have invited to carry out this in their Country as well. “This is why we decided to move to Bangladesh,” President and CEO of the company Mihira Wickramarachchi, said. “We would be also marketing our range of spectacles and sunglass in Bangladesh,” he said.

He said the main reason for this is the success rate they achieved in Sri Lanka. “Sri Lanka’s success rate in the Cochlear implant programme is in par with developed countries such as Japan and China where technology is far advanced,” he said. More>>

Lanka delegation heads to Middle East on business promo

Daily Mirror /Wednesday, 15 August 2007

The Ceylon Chamber of Commerce (CCC) Trade Fair Unit will be forging ahead on a business promotion mission to Saudi Arabia, Bahrain and Oman scheduled from August 30 to September 6.

This mission is initiated at the invitation of the Riyadh Chamber of Commerce and Industry (RCCI). During the visit of Mr. Al - Athel, Secretary General of RCCI to Sri Lanka in June 2007 to participate at the Economic Summit organized by the CCC, both parties agreed to enter into a bilateral co-operation agreement. The MoU was signed on June 7th and Mr. Al - Athel in his address extended an invitation to the CCC to lead a business delegation to Riyadh. Keeping in line with the objectives of the MoU the CCC decided to organize a mission to Riyadh and to add value to its members thought it fit to include Bahrain and Oman too.

The Ministry of Foreign Affairs has pledged its support to assist this trade promotion event through their missions in Saudi Arabia, Oman and the Hon. Consul for Sri Lanka in Bahrain. HE Sadiq, Ambassador for Saudi Arabia, Mahroof, Ambassador for Oman and Mr. Higgoda, Honorary Consul for Sri Lanka in Bahrain are extending their wholehearted support in making this mission a success. The business meetings are being organized by the Chambers in Riyadh, Bahrain and Oman. More>>

South Asia Broadband Communication Congress and Expo 2007 Creates Platform for Better Business

Daily Mirror/Tuesday, 14 August 2007

Director of Technik Research and the President of the organizing committee of the first-ever South Asia Broadband Communications Congress and Expo 2007; Kavan Ratnayaka has announced that the upcoming conference, to be held in Colombo in September, will be a platform to promote and familiarise end-users with the potential of broadband communications for productive growth and education.

According to Ratnayaka, Sri Lanka’s economic associations and Government institutions strongly support the congress as the country’s telecommunications industry is one of the best performing sectors of the economy. Sri Lanka’s telecom operators have very advanced infrastructure and services, and have a number of “first evers” in broadband communications namely: 3G, IPTV, and WiMAX trials.

The congress, to be held in Colombo from September 4th to the 6th, will provide the platform for sharing experiences among telecom operators and internet service providers within the South Asian region, promoting broadband technology benefits to the end users, and educating participants on the number of aspects of this complex technology. More>>

Sri Lanka Japan Business Co-operation Committee adopts formalization

Daily Mirror/Tuesday, 14 August 2007

In keeping with its aim to strengthen links with its affiliated Business Councils, the Ceylon Chamber of Commerce took measures to formalize the functions of the Sri Lanka Japan Business Co-operation Committee (SLJBCC) recently. A proposed set of rules in this regard were adopted by an unanimous vote by SLJBCC members at a meeting held this month.

The SLJBCC was set up in 1979 by the Ceylon Chamber of Commerce following a Memorandum of Understanding with the Japan Sri Lanka Business Co-operation Committee (JSLBCC) set up by the Japan Chamber of Commerce & Industry (JCCI). Since then, 14 joint meetings have been held in Sri Lanka and Japan, the most recent in Tokyo, Japan in 2006.

As a special feature of this visit to Japan, the delegation also visited Osaka. The next meeting is scheduled for 2008 in Sri Lanka.

The creation of the SLJBCC was in response to a request made by the then Minister of Trade and Shipping, Lalith Athulathmudali in May 1979, following a major Investment Promotion Mission to Japan led by him and supported by the then Chairman of the CCC Deshamanya C. P. De Silva.

Mr. C. P. De Silva also took on the mantel as the first President of the SLJBCC. Since its formation, the SLJBCC has been striving to promote and expand trade, investment and tourism between the two countries whilst striving to strengthen existing links. More>>

Tea Market - comment

Daily News/Tuesday, 14 August 2007

SALE: There was improved demand displayed for OP1s and OP grades the week which recorded satisfactory gains all round. Select best BOP1s sold around last levels, whilst others tended irregular.

A few shotty Pekoe/Pekoe1’s sold at last weeks high levels, whilst all others declined substantially once again.

High price OPAs tended lower at the commencement of the sale and appreciated in value as the sale progressed. Poor leaf sorts tended irregular this week.

Better Semi and Small leaf varieties sold at firm to dearer rates, but the others declined in value. Tippy teas were once again irregularly dearer.

There was good general demand in the Ex-Estate catalogues, but the market correction for BOPF that set in mid last week continued at this sale as well. Best western BOP/BOPF though realizing attractive levels of price shed Rs. 5 to Rs. 10 particularly for invoices that had not maintained quality.

Others declined Rs. 5 per kg on average. The market for CTC PF1s remained firm for the very best but there was loss of value of Rs. 5 to Rs. 10 in the below best category. The tea for price segment held firm. More>>

Seminar on climate change and business opportunities

Daily News/Tuesday, 14 August 2007

THE CEYLON Chamber of Commerce in association with Ernst & Young Sri Lanka will hold a seminar to raise awareness on business opportunities created by global climate change.

The seminar will be held tomorrow from 2.00 p.m. to 6.40 p.m. On-Golden-Pond Hotel Taj Samudra, Colombo. Recent concern over the impact of Greenhouse gas emissions on the climate has led to international action and political intervention to control climate change.

The Clean Development Mechanism (CDM) established by the Kyoto Protocol is an arrangement where developed countries with legally binding emission reduction targets, invest in emission reduction projects in developing countries to offset their carbon emissions.

This mechanism helps developed countries to achieve their emissions reduction targets at a reduced cost, while promoting sustainable development in developing countries. More>>

Conducive atmosphere for business in Lanka - British High Commissioner

Daily News/Tuesday, 14 August 2007

Shirajiv SIRIMANE

Opportunities for business transactions in Sri Lanka is diverting to a sound position, said the British High Commissioner in Sri Lanka, Dominick Chilcott at the graduation ceremony of the Chartered Institute of Marketing at BMICH last night.

High Commissioner who was the guest of honour said that one reason for this change is the Free Trade Agreement, the Sri Lanka has with India. Sri Lanka now has entered into a FTA with Pakistan as well.

He also said that the Sri Lankan CIM students’ examination results are better than the UK students. “Sri Lankan students are very serious about their education and this is a very good phenomenon,” he said. This also applies to Engineering, Law, marketing and account fields as well. More>>

Chinese firms sign deal to make Boeing aircraft parts

Daily Mirror /Monday, 13 August 2007

BEIJING, Aug 9, 2007 (AFP) - Two Chinese companies have signed a 300-million-dollar deal to manufacture parts for US-based aviation giant Boeing's 747-8 aircraft, state media reported Thursday.

Chengdu Aircraft Industrial Group and China National Aero-Technology Import and Export Corp (CATIC) will build horizontal stabiliser parts and sub-assemblies for the aircraft, the China Daily said.

The deal was signed Wednesday with Texas-based Vought Aircraft Industries Inc, a major supplier of aircraft structural assemblies to Boeing, the report said.

“We are now in talks with Vought to secure more subcontracting work for the B747-8 aircraft, including the production of the vertical stabiliser,” said Yang Chunsheng, a senior official with CATIC, according to the newspaper.

“We hope to sign more contracts later this year and next year,” he said.

The report said the first batch of the parts will be delivered to Vought's Dallas factory for assembly before the end of 2008 prior to shipment to Boeing's aircraft final assembly line in Everett, Washington.

Boeing's 747-8 is aimed at rivaling Airbus' 380 super jumbo in the large-sized aircraft market. Boeing outsources most of the aircraft's airframe structure manufacturing, except the nose and the wings, to Vought, Yang said. More>>

Timber seminar

Daily News /Monday, 13 August 2007

Chamber of Construction Industry Sri Lanka (CCI) in association with the Malaysian Timber Council (MTC) will host a seminar on “Malaysian Timbers: Their limit is your imagination”.

This seminar will be held tomorrow at Hotel Cinnamon Grand, Colombo.

A special lecture would be delivered by Director MTC, Dr. Wong Tuck Meng, on Malaysian Timbers for all seasons and for all reasons while Director, Das Azman Architects Sdn Bhd Azman Md Nor will speak on Contemporary Architectural Applications of Malaysian Timbers. More>>

Bartleets weekly tea surveillance

Daily News /Monday, 13 August 2007

A total quantity of 6.148mkg arrived at the Colombo Auction this week as compared with a similar quantity of 6.15 mkg last week. Some 0.79 mkg of the total consisted Ex-Estate teas.

Very Tippy teas weakened during this week’s sale due to exceedingly selective buying from Iran.

Meanwhile, the CIS and Dubai played a comparatively moderate role in the Tippy market that finished the day at a overall higher level from last week.

The Leafy-grade teas met with strong demand whilst the Pekoe grades continued to decline. The wiry types in particular were in high demand and gained by margins of between Rs 10 to 15 during the sale.

Dubai, Germany, Syria, Turkey and the CIS countries were a driving force in the market. It is forecast that this trend will continue, at least for another month.

This week also witnessed the awarding of the coveted ISO 22000 certificate to the Pettiagalla and Balangoda tea factories. The latter sells its tea under the ‘Tinioya’ trademark that is managed by the Balangoda Plantations whilst the Pettiagalla factory sells under ‘Pettiagalla’ and ‘New Pettiagalla’ brand.

In a pioneering move to capture the increasingly promising global green tea market, Barlteet Produce Marketing has teamed up with Silverland Teas in an exclusive deal that is set to take the green tea market by storm. The details are given overleaf. More>>

Battered jeans earn big bucks for Sri Lanka

Daily News /Monday, 13 August 2007

The denims look ta- ttered and frayed, but shoppers in Europe and the United States are prepared to pay good money for “distressed” jeans and Sri Lanka is cashing in.

In the industrial town of Avissawella it takes workers around 13 minutes to cut and sew basic five-pocket denims.

They then spend another four days torturing the pants by dying, bleaching, and sandpapering them to get a “distressed” look.

Soft fingers on rough stitching

“Each garment is dyed or dipped around 16 and sometimes as many as 30 times to achieve the proper torn, tattered look,” explains chief executive of Sri Lanka’s Brandix Denim Indrajith Kumarasiri.

“We earn more money by making denims look dirty and torn, the classic clean look doesn’t bring us much,” Kumarasiri told AFP during a visit to the 10-million dollar plant, which can make over three million pairs of jeans a year. Basic denim jeans cost around six dollars to make, but the shabbier “premium” ones cost twice as much. More>>

National chamber facilitates agro buyer-seller meetings

Sunday Times / Sunday, Augest 12, 2007

The National Chamber of Commerce of Sri Lanka in its efforts to support rural entrepreneurs has started a series of buyer-seller meetings where the producers of agro based products and other products from the rural areas could meet the manufacturers and exporters in Colombo.

This will help the rural producers to find a steady market for their products while at the same time helping the large scale companies in Colombo to secure a steady flow of raw materials and exportable products, the chamber said. The first such session will be held tomorrow at the chamber in Colombo. The chamber has invited all its large scale member companies who are exporters and manufactures for this meeting. Small and medium producers and suppliers of vegetables, fruits, bee honey, spices, grains, indigenous herbal products, wooden products, artistic creations and organically grown fruits and vegetables from Monaragala district will meet the buyers in Colombo. More>>

Reducing barriers for export to SAARC countries

Sunday Times / Sunday, Augest 12, 2007

The Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL), the Secretariat dealing with SAARC Chamber of Commerce and Industry (SCCI), wants to minimize any trade barriers with other SAARC countries.

Hildon U. Hamangoda, Director, SAARC and International Affairs, FCCISL, said that according to compiled data trade among SAARC countries is less than five percent of the total trade of the region with the rest of the world. But other regional blocs are showing much bigger volumes of intra-regional trade. For instance the North America Free Trade Agreement intra-regional trade is over 50% and ASEAN countries have over 20% trade among its member countries. The Intra-SAARC trade is dismally low as compared to other regions. The trade and economic activity needs to be increased.

Hamangoda said, keeping in mind the current state of trade in SAARC member countries, SCCI has decided to identify specific obstacles which are holding back and restricting trade among SAARC countries in bilateral as well as regional trade e.g. “restrictions in the cross-border movement of goods, lack of infrastructure, non-acceptability of standards and certifications regime etc.” More>>

Top trade delegation from Karnataka visits FCCISL

Sunday Times / Sunday, Augest 12, 2007

A high level trade delegation from Karnataka, India including 50 leading entrepreneurs from six Indian trade organizations were in Sri Lanka on a week-long visit.

The organizations were the Karnataka Chamber of Commerce and Industry, Association of Women Entrepreneurs, Karnataka; Consortium of Electronic Industry of Karnataka, Goa Chamber of Commerce and Industry, Confederation of Women Entrepreneurs of Hyderabad and Representatives of ZDH/SEQUE partnership programme of India.

The delegation visited the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) and also participated and conducted trade stalls at the SAARC Women’s Trade Fair held in Colombo, organized by the Sri Lanka Women’s Chamber of Industry and Commerce.

FCCISL facilitated the signing of a Memorandum of Understanding between the Tsunami affected “Galle District Women Entrepreneurs Chamber” affiliated to FCCISL and the Confederation of Women Entrepreneurs, of Hyderabad, India.

The MOU was set up in order to strengthen bilateral trade and investment for the benefit of their members and to facilitate realization of strategic partnerships and to exploit trade opportunities and to promote economic cooperation in a mutually beneficial manner. More>>

Sri Lankan exports rise in Poland

Anjana Samarasinghe

Daily News /Friday, August 10, 2007

Bilateral trade between Sri Lanka and Poland showed a significant growth with exports from Sri Lanka to Poland doubling over the last six years. Speaking at the Annual General Meeting of the Sri Lanka - Poland Business Council (SLPBC) President Nirmalee Samaratunga said on a year-on-year basis, exports from Sri

Website Launch: Honorary Consul General of Poland Ken Balendra and SLPBC President Nirmalee Samarathunga at the launch of the new website. Picture by Sumanachandra Ariyawansa

Lanka to Poland grew by 40 per cent over 2005 and imports from Poland increased by 29 per cent over last year.

However tea remains the dominant export, accounting for over 50 per cent of the total exports to Poland from Sri Lanka. Other export lines such as value added coconut, rubber products, textiles, garments, ceramics, gem and jewellery have found markets in Poland and need to be developed further, he said.

"Although trade with Poland has increased it still remains at a mere 0.4 per cent of the country's total trade. We have noticed that potential markets in Poland is still largely untapped by Sri Lanka. More>>

Repositioning local brands in global market vital

Hathoon Sheriffdeen

Daily News /Friday, August 10, 2007

Sri Lanka needs to reposition its local brands to cater to the global market. The advertising industry has been very innovative and performed well to sustain the brands in the market place.

President, Sri Lanka Institute of Marketing (SlIM), Sarath Fernando said at the launch of SLIM Brand Excellence 2007, held at Hilton yesterday.

"Sri Lanka has easy access to the Asian market. Fifty per cent of the Asian market is very young. We have already affiliated with the Asia Pacific Marketing Association, which has changed to Asia Marketing Association. Sri Lanka is given the President and the Secretary generalship in the Association," he said.

"SLIM Brand Excellence 2007 will be held on October 11 at Hilton. This is the sixth successive year of rewarding the brands and the brand custodians," Vice President, SLIM, R, M, P Dayawansa said.

Organizations take plenty of effort to nurture a brand. SILM has made a platform to evaluate the brand made by the brand custodians. The brands are lifeless objectives without the custodians. More>>

IDB Initiative to enhance Value Chain Development in the coir sector in the North-Western Province

Daily Mirror /Friday, August 10, 2007

The Industrial Development Board in cooperation with ISB and ILO Enter-Growth has initiated a value chain development project for the coir industry in North-Western Province In order to take advantage of the opportunities and help to overcome constraints.The North-Western Province cultivates 45 percent of the countries coconuts – together with Gampaha even more than 60 percent, according to the Coconut Development Authority. The region is therefore known as “Coconut Triangle” (Puttalam, Colombo, Kurunegala). This clustering of coconut cultivation is unique, and gives the region a competitive advantage over other countries. Coir fibre is extracted from the coconut husk and further processed into various products such as mats and matting, brooms and brushes, geo-textiles (against soil erosion and for road construction), twine and twisted fibre and so on.

However, the coir industry faces many challenges which need to be overcome in order to remain competitive on the global market. For example: husk supply collection remains too weak to meet the increasing demand for coir fibre; coir extraction from husk still poses high health risks and affects labour recruitments and productivity; opportunities to produce value-added coir products at rural level are not fully exploited.

In the past few weeks, IDB and its partners have conducted many interviews and workshops with coir industry stakeholders, using a new approach to Value Chain Development developed by the ILO. More>>

NCCSL facilitates Agro-Buyer Seller Meetings

Daily Mirror / Thursday, August 09, 2007

The National Chamber of Commerce of Sri Lanka, in its efforts to support rural entrepreneurs, has started a series of Buyer Seller meetings where the producers of agro based products and other products from the rural areas can meet the manufacturers and exporters in Colombo. This will help the rural producers find a steady market for their products while help the large scale companies in Colombo to secure steady flow of raw materials and exportable products at the same time. The first session will be held on Monday August 13 at 3.30 pm at the National Chamber auditorium, 4th Floor, No. 450, D R Wijewardena Mawatha, Colombo 10.

The Chamber has invited all its large scale member companies who are exporters and manufactures for this meeting. Small and Medium producers and suppliers of Vegetables, Fruits, Bee Honey, Spices, Grains, Indigenous Herbal Products, Wooden Products, Artistic Creations and Organically grown Fruits and Vegetables from Monaragala District will meet the buyers in Colombo.

In addition to the producers and buyers, packaging companies have also been invited so that they could introduce their modern packaging methods for the benefit of both buyers and sellers.

The Chamber will hold similar sessions for the benefit of rural producers in other districts as well in the future.

The buyers/ manufacturers/exporters are welcome to register themselves for the said meeting. Registration can be made by calling Mr Buddika Mallawarachchi, Assistant Secretary General on 5374801-3 or 0714842863. More>>

BOI plans to modernise deep sea fishing sector

Daily Mirror / Thursday, August 09, 2007

The Board of Investment convened a meeting recently aimed at raising the standard of Sri Lankan deep sea fishing sectors. At the meeting it discussed of ways in which the Sri Lankan deep sea fishing sectors could be brought up international level.

BOI Chairman/Director General Dhammika Perera who chaired the meeting with the participation of leading exporters engaged in deep-sea fishing were able to exchange ideas on how the sector could be modernized and become a leading sector in the national economy.

In addition to the exporters present were representatives from institutions who are concerned with the development of the fisheries sector, such Director General of the Ministry of Fisheries H. S. G. Fernando, Senior Economist of the Central Bank K. G. R. K. Dheerasinghe Deputy Director of the Economic Research Dept., K. D. Ranasinghe, Central Bank, Chairman Ceylon Fisheries Harbour Corporation A. Abeygunasekera, and NARA Director Champa Amarasinghe.

Currently, Sri Lanka exports 15,000mt of fish per annum and a greater proportion of this output is sent through the Mutwal Fisheries Harbour.

The BOI Director General spoke in particular of the need on the part of exporters to utilize the capacity now available at other harbours such Galle and Trincomalee. This also made economic sense and, he said, will result in an increase in the volume of exports. More>>

Role of Incoterms in Trade

Daily Mirror / Thursday, August 09, 2007

Incoterms provide with a set of international rules for the interpretation of commonly used trade terms in foreign trade.

Perhaps the commonest incoterms which every body is familiar with are FOB & CIF. There are altogether 13 such terms which fit different situations encountered in trade transactions between buyers and sellers.

A proper understanding of the terms and correct usage can avoid misunderstandings and costly disputes when sales contracts are drafted.

The International Chamber of Commerce first published the Incoterms in 1936 which have undergone additions and amendments in later years. Incoterms 2000 which is in vogue caters to the various changes that have occurred in trade transactions since they were first introduced.

Scope of incoterms is limited to matters relating to the rights and obligations of parties to the contract of sale with respect to the delivery of goods sold.

ICC Sri Lanka will be holding a days seminar/workshop on incoterms on August 23 at Hotel Taj Samudra to educate, and clear any misconceptions among exporters, importers, commercial lawyers and bankers etc. The seminar will be conducted by Ananda Liyanage, the best local talent. More>>

Ideal opportunity to meet prospective business partners:

Ceylon Chamber import export fair in February

Daily News /Wednesday, 8 August 2007

THE CEYLON chamber of Commerce will hold the IMEXPRO 2008,

Import - Export Promotion Fair from February 14 to 16 2008, at the BMICH Colombo. With the objective of assisting the Sri Lankan and Overseas Business Community to source suitable business partners, this international event will showcase a range of local and international products and services.

The exhibition will feature products and services under the categories of agro/marine, services and industrial/manufactured products sectors.

Participation is open to Sri Lankan and International organisations/individuals. The Chamber will source a wide spectrum of international participants through its 19 Bilateral Business Councils: Australia/New Zealand, Benelux, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Korea, Malaysia, the Maldives, Nordic countries, Pakistan, Poland, Russia, Singapore and the United Kingdom.

Participants will also be mobilised through overseas Chambers, Overseas Missions in Sri Lanka, Sri Lanka Missions overseas and Import/Export promotion organisations.

With over 300 overseas buyers expected to visit, the visitors will also comprise the Sri Lankan business community, overseas buyers/sellers, exhibitors (local and foreign) and the general public.

Exhibitors will be provided with an ideal opportunity to meet prospective business partners, an opening for transfer of technology, information and tie-ups of strategic deals, an occasion to discuss and negotiate joint venture proposals with local and overseas participants, publicise and sell your products, interact and establish global contacts as well as a networking opportunity with overseas exhibitors, buyers/sellers. More>>

Dipped Products turnover exceeds Rs. 2.5 billion in first quarter

Daily News /Wednesday, 8 August 2007

DIPPED PRODUCTS PLC, the Hayleys Group’s rubber glove manufacturing company which has a significant interest in plantations, has reported a turnover of Rs 2,541 million for the first quarter of 2007-08, following healthy growth in production by its companies in the hand protection business.

In results released to the Colombo Stock Exchange, the Group reported that turnover had grown 17 per cent.

This was made possible by the hand protection segment, in which export volume from Sri Lanka increased by 18 per cent, enabling Dipped Products to achieve a turnover of Rs 2,036 million from its hand protection businesses, a healthy 20 per cent increase over the corresponding quarter. More>>

Rs. 500 mn forex saving possible through locally produced textiles

The Island /Wednesday, 8 August 2007

Pension scheme for textile producers as an incentive
The country will be able to save Rs. 500 million forex this year by producing the total requirements of school, army and police uniform material locally.Textile Industries Development Ministry Additional Secretary W. D. Jayasinghe said that 10.4 million metres of white and blue uniform material were needed for 2008 and orders have been placed with local textile producers. The total investment to manufacture this material locally was Rs. 1500 million. More>>

CCC assists overseas business community at IMEXPRO 2008

Daily Mirror/Tuesday, 7 August 2007

The Ceylon Chamber of Commerce proudly announces IMEXPRO 2008, Import – Export Promotion Fair from February 14-16 2008, at BMICH in Colombo.

With the objective of assisting the Sri Lankan and Overseas Business Community to source suitable business partners, this international event will showcase a range of local and international products and services.

The exhibition will feature products and services under the categories of Agro/Marine, Services and Industrial/Manufactured Products sectors.

Participation is open to Sri Lankan and International organisations /individuals.

The Chamber will source a wide spectrum of international participants through its 19 Bilateral Business Councils: Australia/New Zealand, Benelux, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Korea, Malaysia, Maldives, Nordic countries, Pakistan, Poland, Russia, Singapore and the United Kingdom.

Participants will also be mobilised through overseas Chambers, Overseas Missions in Sri Lanka, Sri Lanka Missions overseas and Import/Export promotion organisations.More>>

Tea industry concerned over effects of global warming

" Many individual plantations have undergone three planting cycles. "

Daily News/Tuesday, 7 August 2007

Dr. N. Yogaratnam, Consultant, National Institute of Plantation Management

The Tea industry's concern over the need for sustainable crop production and environmental protection has heightened in the recent past, with agronomists and environmental consultants reporting that tea plantations are at a risk of being severely damaged by the anticipated climate change now popularly referred as "Global warming".

Plantations in the low and mid-country are the most vulnerable areas that have to survive the wrath of global warming. Coinciding with this thinking, it appears that the Ministry of Plantation Industries has also announced plans to launch a programme of reforestation in small holdings and corporate sector plantations in vulnerable areas.

Fluctuating weather patterns had been a major contributory factor for the inconsistency in tea production.

Water and temperature, whether too little / low or too much / high, are constraints to crop production. Tea, known to be very sensitive to these conditions recorded a decrease of 12.7 percent in production in the period Jan / June 2007 over the same period in 2006, 143.6 MnKg in 2007 as against 164.5 MnKg achieved in 2006. Changes in weather pattern appear to be the main reason for this decline. More>>

Solutions for simplicity in enterprise

Daily News/Tuesday, 7 August 2007

DMS Electronics to -gether with it's partners Hewlett Packard and Citrix Systems announced a joint initiative to drive simplicity in to the enterprise, at a well attended customer seminar held at the Galadari Hotel in Colombo.

Addressing the seminar, General Manager - Sales and Marketing for DMS Electronics Lalith Perera highlighted some of the key challenges that modern day CIO's face.

During the presentation Citrix representative explained how Citrix could enable the enterprise to accelerate the access of multiple applications whilst maintaining the simplicity in the IT environment. He further emphasised that Citrix Presentation Server 4.5 significantly improves server performance and scalability offering an instant ROI while enhancing the user experience.

He also went on to explain the new CPU utilization management and virtual memory optimization features and how it helps support a higher number of applications with more users per server, delivering more opportunities for server consolidation. More>>

BOI approves three new

The Island /Tuesday, 7 August 2007

projects valued at Rs. 139 mn
The Board of Investment of Sri Lanka (BOI) entered into agreements with Forestree Investments Limited, Highland Energy Developments (Pvt) Ltd. and Pripa Plantations (Pvt) Ltd. for projects valued at over Rs. 139 million. The agreements were signed by Dhammika Perera – Chairman/Director General of the BOI and the certificates of approval were officially handed over by Sarath Amunugama – Minister of Enterprise Development & Investment Promotion. Details of the projects are given below: More>>

Market Weekly: Bartleet’s Tea Surveillance upto August

Daily News/ Monday, 6 August 2007

At this week auction a quantity of 6.15 mkg of tea was traded with the Ex-estate teas contributing 0.837 Mkg to the sale. The average quantity traded during July was 6.04 mkg.

The Tippy market held center-stage picking-up considerably as strong demand from Iran along with sustained interest from Dubai and the CIS drove prices in an upward direction. With Turkey and Saudi Arabia also playing an active role, this segment enjoyed overall healthy demand across the board at the sale.

The Pekoes were easier this week following eight weeks of steady gain, possibly due to the upcoming elections in Syria. However, the rest of the Leafy-grade market was met with strong demand.

A series of plantation companies have of late been reporting losses and have attributed it to the strikes and subsequent wage hikes. For some it was a continuation of loss making from the previous year whilst others have endured a turn-around in fortunes.

For instance, Bogawantalawa has moved from recording a Rs. 20 million profit to a Rs. 121.6 million loss during the financial year ending March 31.

Some in the industry have claimed that the Government has unfairly shifted its obligations of looking out for the poor onto the plantation companies who have to face the harsh realities of the free-market economy.

Data released during the past week also indicated a fall of 11.4 per cent in tea output to June as compared with the same period in 2006. More>>

Government to reduce palm oil imports

Daily News/ Monday, 6 August 2007

Ramani KANGARAARACHCHI

The Government intends produce 150,000 metric tons of coconut oil this year to protect the industry and the industrialists. The Minister of Coconut Development Salinda Disanayake said that the local coconut oil industry and the manufacturers are facing many challenges and difficulties.

Measures will be taken to give a good price for coconut and protect the coconut cultivators. He said this at a function held at the Mahaweli Centre to launch the survey results of coconut oil in the local market.

The Minister pointed out that the production of coconut oil decreased rapidly as there was a huge drop in coconut harvest. In 2005 the production was only 20,000 metric tons and in 2006 it increased to 37,000 metric tons.

He hoped that the Government will be able to reduce the imports of palm oil with the intended increase of coconut oil production.

The survey results has revealed that coconut oil available in the local market is mixed with various oils and it is unhealthy. More>>

Window into US$ 200 billion American apparel market

Sunday Times /Sunday, Augest 05, 2007

By Dilshani Samaraweera

The world’s largest apparel trade show in Las Vegas, could open a window into the US$ 200 billion American apparel market. Organisers of the Magic apparel exhibition say it is the shortest route for the Sri Lankan garment industry to access the US.

“Magic is the world’s largest apparel and accessory trade show. Over half, around 70%, of the business generated through the Magic show is in the US. So Magic is the entry point into North American apparel markets. European buyers also attend the show,” said Hiran Jayasinghe, exclusive representative for Magic in Sri Lanka.

The Magic show is organised by Magic International of the US, one of the world's largest organisers of trade shows for the apparel industry. The trade event is held every year in February and August connecting buyers and sellers of men's, women's and children's apparel and accessories from countries all over the world. The exhibition is made up of 80% apparel manufacturers and 20% accessory manufactures.

The show will open its doors this year again from August 27-30. More>>

Tea, garments win buyer approval for labour practices

Daily News/Friday, 3 August 2007

Sri Lanka’s biggest exports, tea and garments, are gaining global recognition for ensuring workers’ rights and welfare.

Products like “ethical teas” and “ethical bras” (lingerie), which recognise labour rights in the workplace, have gained significant consumer loyalty in U.S. and European markets.

Chairman of the Joint Apparel Association Forum (JAAF) Ashroff Omar says that when foreign buyers visit Sri Lankan garment factories, they are surprised by the standards.

The United States is Sri Lanka’s largest customer, buying 58 per cent of total export production, followed by the European Union, which takes around 37 per cent.

Garment factories have transformed, with some even installing automatic cash machines and providing accommodations for workers.

Earlier this year, the garment industry launched a multi-million-rupee image-building programme to position the country globally as an ethical clothing producer.

The collective industry label and image building campaign, called “Made in Sri Lanka: Garments without Guilt”, is aimed at differentiating Sri Lanka from mounting competition, particularly China and India, by carving out an “ethical” niche.

Equally, welfare for plantation workers has undergone a radical change. Tea is the second largest commodity export. The once marginalised labourers, who lived in tiny, shanty-type accommodation called “line rooms”, now reside in modern apartment blocks. More>>

Sri Lanka earns more by selling less tea

Daily News/Friday, 3 August 2007

Aug 2, 2007 (AFP) - Sri Lanka's tea export volumes fell by 10 percent in the first six months of this year, but earnings rose marginally by three percent, a commodity broker said Thursday.

Tea, Sri Lanka's main export commodity, earned 439 million dollars from January to June this year, a three percent increase compared to the same period last year.

However, the volume of "Pure Ceylon Tea" exported fell to 136.9 million kilogrammes (301.18 million pounds) in the first six months of this year, down from 153 million kilogrammes last year, Asia Siyaka brokers said.

The island's total tea production slipped 12.7 percent to 143.63 million kilogrammes over first six months of 2006. Much of the fall was due to strikes by the 400,000 workers in the industry demanding higher pay.

The total tea crop last year was 310.8 million kilogrammes.

Sri Lanka's record 2005 harvest of 317.2 million kilgrammes made it the world's number-four producer behind China, India and Kenya. More>>

Tea market - comment

Daily News/Friday, 3 August 2007

SALE: Sale No. 30 comprising 6.1 m/kgs was concluded this week.

Ex Estate offerings comprised 0.84 m/kgs. This week there was a fair weight of improved Western BOPs/BOPFs on offer.

Consequently, in keeping with the improvement in quality Select Best BOPs together with improved Below Best gained Rs. 10-15 per kg. At the lower end too there was better demand resulting in prices advancing on last.

Corresponding BOPFs too commenced at Rs. 10-15 per kg dearer. However, the mentum could not be maintained resulting in BOPFs declining Rs. 10-15 per kg and more towards the close.

Yet, a few Select Best invoices on offer were able to command a premium over the preceding sale. Nuwara Eliya BOPs met with improved demand and were mostly dearer to last whilst BOPFs were barely steady.

Offerings from the Uva/Udapussellawa region too showed some improvement and the Select Best teas gained with buyers following quality closely. CIS continued to be the main stay for the BOPFs whilst UK, Japan and the Continent too were active. More>>

‘Business with Romania’

Daily News / Thursday, 2 August 2007

The National Chamber of Commerce of Sri Lanka will hold a guest lecture titled ‘Doing Business with Romania’ tomorrow from 4.00-5.00 p.m. at the NCCSL auditorium. This guest lecture is aimed at creating awareness on business opportunities with Romania, particularly following the accession of Romania to the EU in 2007.

This is a unique opportunity to find out opportunities available for trade investment and tourism between Sri Lanka and Romania and the existing regulations and business practices. Charge d’affairs, Romanian Embassy Ionel Gombos will make a detailed presentation on the above aspects. For registration and further details please contact buddhika@nccsl.lk More>>

BOI signs agreement with JKL Group for teak plantation project

Daily News / Thursday, 2 August 2007

THE BOI entered into an agreement with Lanka Teak to set up a project for a teak plantation.

Agreement: Minister of Enterprise Development and Investment Promotion Dr. Sarath Amunugama with CEO of the JKL- Group, Jann K. Lindberg.

Using techniques based on tissue cultured plant material the company will grow teak trees of which much of the wood will be exported.

Agreements were signed at the Ministry of Enterprise Development and Investment Promotion conference room and signatories were Chairman/Director General of the BOI Dhammika Perera and Chairman and CEO of the JKL- Group, Jann K. Lindberg a Monaco based company whose activities include shipping, energy and investments.

The investor received his agreement document from Minister of Enterprise Development and Investment Promotion Dr. Sarath Amunugama. More>>

BOI signs agreement with Infotechs International

Daily News /Wednesday, 1 August 2007

The BOI signed an agreement with Infotechs International to set up a software development company.

Commenting on the agreement Director Infotechs Keerthi de Silva said “the BOI processed the project and within one week approval was given.

‘We are satisfied with the service of the BOI and Minister Amunugama and Chairman Dhammika Perera were very supportive”.

The company is a software development company that will be producing for the SAARC region, notably, India and Pakistan. Keerthi de Silva said it would be looking at providing services for ASEAN and South East Asian countries such as Laos and Vietnam.

This is an investment of U$ 160,000 that will employ 20 Infotechs, however, was set up 25 years ago. The current project envisages developing the content for mobile phone operators and providing software solutions and related services. Its products have also changed. More>>

BOI signs agreement with JKL Group for teak plantation project

Daily News /Wednesday, 1 August 2007

THE BOI entered into an agreement with Lanka Teak to set up a project for a teak plantation. Using techniques based on tissue cultured plant material the company will grow teak trees of which much of the wood will be exported.

Agreements were signed at the Ministry of Enterprise Development and Investment Promotion conference room and signatories were Chairman/Director General of the BOI Dhammika Perera and Chairman and CEO of the JKL- Group, Jann K. Lindberg a Monaco based company whose activities include shipping, energy and investments.

The investor received his agreement document from Minister of Enterprise Development and Investment Promotion Dr. Sarath Amunugama.

The company will be investing Rs. 50 million on this project of which 80% of the products will cater to the international market.

It is also significant that the project will be located at Giribawa and will be launched under the Nipayum Sri Lanka 300 Enterprises Programme (300EP). More>>

Back | Up