Sri Lanka's Apex Organisation for Export Promotion
Sri Lanka’s Gem and Jewelry Industry is emerging as one of the biggest foreign exchange earning industry for the country. The Gem and Jewellery Authority has implemented many measures to uplift the industry.
These includes holding periodical exhibitions locally and in foreign countries and providing facilities for gem miners and establishing partnerships with other gem exporting countries in the world.
As a result of these activities Myanmar has invited Sri Lanka to establish cooperation in the industry. Deputy Minister of Industry and Commerce Lakshman Wasantha Perera said that with this new initiative from Myanmar we could establish new industries both local and foreign to enable us to generate huge employment opportunities locally and overseas, in addition to development of Sri Lankan exports.
Sri Lanka’s exports, which suffered a YoY decline of 7% in 2012, returned with a bang in 2013 posting a 6.2% surge. "I and EDB thank our exporters for their commitment for this strong performance" a Ministry of Industry and Commerce press release quoted Minister of Industry and Commerce Rishad Bathiudeen as saying.
The release adds: ‘Minister Bathiudeen was acknowledging the latest provisional annual export performance numbers briefed to him by his officials on January 22 in Colombo.
‘According to the latest provisional figures by the EDB, 2013 cumulative exports earnings stood at $ 10379.94 Mn, growing by 6.2% from 2012’s annual export revenues of $ 9773.63 Mn.
The external sector strengthened further with the trade deficit contracting sharply in October 2013,the Central Bank said yesterday. Earnings from exports increased to record levels, reflecting the ongoing recovery in the global economy, while expenditure on imports declined. The contraction of the trade deficit, higher inflows to the services account and an increase in private transfers contributed to reducing the current account deficit.
The favourable developments in the external sector together with higher inflows to the financial account, resulted in the Balance of Payments (BOP) recording an estimated surplus during the first ten months of 2013, compared to the deficit recorded during the corresponding period of 2012, the Central Bank said yesterday.
Sri Lanka is hopeful as exports continue to surge with latest volumes showing a promising uptrend. “The export trend in September is continuing. The 3% exports increase in October is higher than expected” said a pleased Rishad Bathiudeen, Minister of Industry and Commerce on 22 November.
Minister Bathiudeen was acknowledging the latest export numbers for October 2013 indicated to him by his top officials on 22 November at the Ministry of Industry and Commerce.
Sri Lanka’s overall tea export earnings during the period January – September of the year has increased by Rs. 10.6 billion year on year (YoY) to record Rs. 141.9 billion, according to a Forbes and Walker report.
However, overall export volumes in the first nine months of the year has decreased by 1.4 million kg year on year to 234.5 million kg.
The total tea export earnings in August also increased to Rs. 123.1 billion while tea export earnings in September was Rs. 18.5 billion. The volumes decreased by 3.1 million kg to 28.7 million kg.
An eager Sri Lanka launched the business side of its forthcoming CHOGM -and announced its new export turnaround to a packed presser on 22 October. “I am happy to say that our exports from January to September this year shows an increase of 1.07%, in comparison to the same period in 2012. This shows that, having faced the international market challenges our exports are now gradually strengthening” said Rishad Bathiudeen, Minister of Industry and Commerce on 22 October.
Minister Bathiudeen was addressing the official media announcement and special presser on “Reflection of Sri Lanka” held at the Ministry of Mass Media and Information in Colombo 5 on 22 October. Along with Minister Bathiudeen, also present were Susantha Punchinilame (Deputy Minister of Economic Development), Lakshman Yapa Abeywardena (Minister of Investment Promotion), Anura Siriwardena (Secretary, Ministry of Industry and Commerce), Charitha Herath (Secretary, Ministry of Mass Media and Information), officials of Sri Lanka Tourism, BoI, Tea Board, EDB, Gem and Jewellery Authority, and Ministry of Economic Development.
Sri Lanka's exports rose 10.7 percent to 917.8 million US dollars in August 2013 from a year earlier, and import dropped 7.7 percent to 1.6 billion US dollars, the Central Bank said.
Export earnings from tea grew 49.3 percent to 142.8 million US dollars and apparel exports barely grew 2.1 percent to 366.5 million US dollars. Rubber products export value dropped 8.0 percent to 77.7 million US dollars.
Imports fell 7.7 percent to 1.6 billion US dollars in August. Consumer goods rose 18.6 percent to 266.6 million US dollars and intermediate goods fell 5.7 percent to 1,017 million US dollars though fuel imports rose 7 percent to 531.3 million US dollars.
Lankan businesses of both SME and large scales are enthusiastically enlisting for the CHOGM event of EDB. "42 exhibitor firms from ornamental and handicraft sector, 40 from gem and jewelleries, and 19 from apparel sector are among them," said Ms Sujata Weerakoone, Director General of EDB on 08 October in Colombo.
Director General Weerakoone was addressing the special briefing session held at EDB auditorium on 08 October for exhibitors of forthcoming EDBs CHOGM exposition titled "Reflections of Sri Lanka-Exploring the Wonder of Asia". More than 250 reps from 184 Lankan businesses of SME and large scales from across the country were in attendance at EDB’s briefing session.
Tea export earnings in the first eight months of the year increased by Rs. 10.6 billion year on year (YoY) to Rs. 123.1 billion, Forbes & Walker (F&W) in a report said.
Export volumes in the review period increased by 1.7 million kilos YoY to 205.7 million kg.
Kenya, one of Sri Lanka’s competitors, in the first seven months of the year increased its export volumes by 52 million kg. YoY to 293 million kg., F&W said.
In the same period Kenya’s tea export earnings increased by Rs. 18 billion* to Rs. 109.7 billion.
Meanwhile Sri Lanka’s tea export earnings in August increased by Rs. 6.2 billion to Rs. 18.8 billion YoY.
Likewise tea export volumes increased appreciably by 9.5 million kg. YoY to 31.4 million kg.
Apparel exports must be expanded to cater to the growing demand for Sri Lankan made products in the Japanese market, according to Japan’s House of Councillors Member Yamatani Eriko.
“Sri Lankan apparels are of high quality but unfortunately, the supply of Sri Lankan apparels to the demand of the Japanese market is not sufficient at the moment. Therefore, we request steps be taken to expand exports of Sri Lankan apparels to Japan.
Bilateral trade between Sri Lanka and Japan has a very long history and trade is one of the most important aspects of our bilateral relations. Ceylon tea and other Sri Lankan products such as apparels and ceramics are already popular in Japan,” Eriko stated.
The Sri Lankan Embassy has invited buyers and sellers to participate in an exhibition to be held concurrently with the Commonwealth Heads of Government Meeting (CHOGM) 2013, scheduled to be held in Colombo from Nov. 13.
Anil Sirimanne, commercial counselor at the Sri Lankan Embassy, told Arab News that the event, which will discuss Sri Lanka’s trade, tourism and investment, will also coincide with the Commonwealth Business Forum (CBF), which will also be held in Colombo during the same period.
The Commonwealth is a voluntary association of 54 independent countries and the CHOGM is held every two years to enable leaders of Commonwealth countries to come together to discuss global and Commonwealth-related issues and to decide on collective policies and initiatives.
The High Commissioner of Pakistan in Sri Lanka Maj Gen (R) Qasim Qureshi hosted the Sri Lankan businessmen participating in Pakistan EXPO 2013 along with the officials of Export Development Board Sri Lanka, today at the High Commission of Pakistan prior to their departure for Karachi.
Ten companies from Sri Lankan representing various sectors such as tea, herbal cosmetics, commercial paints, bicycles, fruits & vegetables, textiles and pharmaceuticals sectors will attend the largest EXPO of Pakistan, from 26-29 September, 2013.
Processors and exporters in combination have achieved as at today a 20 % increase in export revenue compared to last year, said Bandula Egodage, Chairman Export Development Board addressing the Lanka Fruit and vegetable Producers, Processors and Exporters Association's 32nd AGM on Wednesday.
He said the industry has earned US$ 32.5 million export earnings in 2012 which was very significant because members of the association were engaged in agriculture. He said the members of the association were playing a vital role in terms of rural development in Sri Lanka and was engaged in a huge CSR campaign which was more vital than figures. He said value addition was vital to overcome rising input costs.
Sri Lanka, expecting a bigger salt harvest this year from the country's salterns, plans to export the excess salt.
The Chairman of Lanka Salts Ltd., Pradeep Wijesiriwardana has said that there will be excess salt when the salterns at Elephant Pass produce salts and the excess can then be exported.
Wijesiriwardana has said that the plans are already underway to export the excess production from the Hambantota port.
In accordance with the popular slogan “Come September Come Facets” the 23rd version of Sri Lanka’s premier International Gem & Jewelry Show, Facets 2013, eagerly awaited by all stakeholders in the international gem and jewelry trade and industry, is due to be held from August 29th to September 1st, 2013, at the usual venue, the Sirimavo Bandaranaike Memorial Exhibition and Convention Centre, part of the complex of buildings associated with the Bandaranaike Memorial International Conference Hall (BMICH), situated along Bullers Road, Colombo. The show is organized by the Sri Lanka Gem & Jewelry Association (SLGJA) and co-sponsored by the National Gem & Jewelry Authority (NGJA) of Sri Lanka and the Sri Lanka Export Development Board (SLEDB) .
The show will be held in the two large octagonal-shaped convention halls of the exhibition center, the main hall being reserved for the display of precious and semi-precious gems and the second hall allocated to jewelry, lapidary and other machinery used in the gem and jewelry industry. Around 200 exhibitors both local and foreign are due to be accomodated in both halls. The ceremonial opening of the show will be held at 9.00 a.m. on August 29, 2013 and the show will be open to visitors from 9.30 a.m. to 6.00 p.m. on August 29, and on the remaining three days August 30 to September 1, from 10.00 am to 6.00 p.m
Sri Lanka’s non-BoI apparel exporters have been now integrated to the crucial global network called Asycuda World (of UNCTAD). And having overcome the global recession, our apparel exports are now back on track-with good news. “Today, Sri Lanka’s apparel sector is entering into a new phase.
As a result of Sri Lanka’s non-BoI apparel manufacturers directly integrating into the online ‘Asycuda World’ system, we have now cleared a major bottleneck in our apparel exports” announced Rishad Bathiudeen, Minister of Industry and Commerce on 30 July in Colombo. Minister Bathiudeen was addressing the implementation event of the Asycuda World export documentation system for non-BoI apparel exporters held 30 July at the Ministry of Industry and Commerce.
President Mahinda Rajapaksa who is also the country’s Finance Minister has declared Sri Lanka’s four main ports, Colombo, Hambantota, Trincomalee and Galle as ‘Free Ports’.
Additionally, the President declared the Mattala Rajapaksa International Airport, the Katunayake Export Processing Zone and Koggala Export Processing Zone as ‘Bonded Areas’.
The declaration entitles enterprises which are 65 percent foreign-owned and operating through the specified areas to wide tax exemptions including provisions under the Customs Ordinance and Exchange Control Act.
Despite the drawbacks of the anticipated economic recovery in the European Union and the United States not taking place and also the unsettled conditions in the Middle East, there has been a commendable increase in the country’s export earnings in June this year, said Bandula Egodage, Chairman and Chief Executive of the Sri Lanka Export Development Board .
Addressing the 16th annual general meeting of the Exporters’ Association of Sri Lanka as the guest of honour, Egodage said that according to provisional Customs data, Sri Lanka’s export earnings had recorded a commendable increase in June this year and exports to our key markets USA and EU, especially to the USA, had also shown a satisfactory increase in the same month.
FACETS Sri Lanka 2013, the International Gem and Jewellery Show that showcases hundreds of local and foreign exhibitors, will be held from August 29 to September 1 at the Sirimavo Bandaranaike Memorial Exhibition Centre. This year’s exhibition will comprise over 150 booths with a variety of gem and jewellery that include precious and semi-precious gems.
Organized by the Sri Lanka Gem and Jewellery Association (SLGJA), FACETS Sri Lanka enables all gem and jewellery traders to display market collections and also help create awareness about the importance of the gem and jewellery industry in Sri Lanka. Additionally, the event will consist a seminar on 'Gem and Jewellery in Sri Lanka' conducted by an expert panel of local and International panelists.
FACETS Sri Lanka 2013 encompasses individual exhibitor pavilions from Myanmar, The National Gem and Jewellery Authority (NGJA) and an SME pavilion from the Sri Lanka Export Development Board (EDB) . In addition, buyer delegations from USA, China, Russia and India will also be arriving. Stall holders from Singapore, Dubai, Myanmar and India will be participating at the event.
Tunisia, the fifth phosphate producer in the world and a high end, high speed apparel supplier to European fashion world is showing a new opening for Lankan apparel supply chains. And Tunisia is agog over Sri Lanka’s growth rates. “We are almost taken up by your strong GDP growth rates that exceed 6%. I congratulate Sri Lanka for its spectacular growth.
hen you specially compare with the world economic growth rate, it’s such a leading rate” said Tarek Azouz, Ambassador of Tunisia to Sri Lanka on Wednesday (10).
Azouz was addressing Rishad Bathiudeen Minister of Industry & Commerce during his courtesy call on Minister Bathiudeen at EDB premises in Colombo. Also present along with Minister Bathiudeen were Anura Siriwardena Secretary, Ministry of Industry and Commerce and Bandula Egodage Chairman, Export Development Board and officials from the Department of Commerce.
