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Sri Lanka’s ’15 Kunming take surpasses $2M

Sri Lanka’s ’15 Kunming take surpasses $2M

2015-07-02

Sri Lankan biz, facilitated by EDB strongly raged at the recent Kunming international fair in China notching initial an income surpassing $2 Mn-and some eager Lankan firms are still continuing in the mainland having been asked by keen Chinese firms to stay back and conclude initial agreements for future biz, as revealed on 30 June.

“Minister of Industry and Commerce Rishad Bathiudeen and I led the Lankan delegation to Kunming Fair and this was a national level business delegation to China. The participation produced successful spot sales, new orders and more exports for Lankan businesses” announced Bandula Egodage (Chairman and CEO-EDB) on 30 June in Colombo.

EDB Chairman Egodage was addressing the special press briefing on Sri Lanka’s performance at the recently concluded third China-South Asia Exposition (CSAE) in Kunming, China at EDB on 30 June. The third CSAE and 23rd China Import & Export Fair concluded on 16 June. It is a comprehensive international expo approved by the State Council of China. With the collaboration of the Sri Lanka Embassy in Beijing and the Sri Lanka Consulate in Chengdu, Sri Lanka Export Development Board organized the Sri Lanka pavilion with 125 stalls at the CSAE showcasing Lankan gem and jewellery, tea, coconut products, spices, organic products, handcrafts, batik, ceramic products and etc. Industry and Commerce Minister Bathiudeen addressed the 10th China South Asia Business Forum on 12 June and also unveiled the Lanka Pavilion on the same day. Also taking part at the session were representatives from firms in the Lankan Kunming delegation.

Accordingly, the evaluations submitted by only 30 of 127 Lankan participating institutions (as at 1.30pm 30 June) at Kunming Fair showed $1.2 Mn in confirmed spot sales, $850,000 confirmed orders and 728 business inquiries for future linkages! Three Lankan firms that were part of 2015 delegation to Kunming, are still remaining (and busy) in China at this moment, negotiating with various Chinese firms who expressed willingness to establish import links and inking deals. As some other participating firms are yet to submit their sales details, the $1.2 Mn spot sales numbers are initial and expected to rise further as more filings are made. Severel Lankan Tea firms secured agents in China in Kunming and Shanghai, two business agreements for distribution signed (tea and virgin coconut oil). Business contacts were also established with firms from Nepal, France and USA. Reps who took part in the delegation also revealed that Shenzhen Global Purchase E-commerce has chosen Ceylon Tea and Ceylon Ceramic to be listed in their online product catalgues.

“Minister of Industry and Commerce Rishad Bathiudeen and I led the Lankan delegation to Kunming Fair and this was a national level business delegation to China. 260 representatives from 122 private sector and 5 government sector organizations took part from Sri Lanka” said EDB Chairman Egodage, and added: “The participation produced successful spot sales, new orders and more exports for Lankan businesses. Sri Lanka pavilion was visited by a large number of visitors for all 5 days. Tea sector companies were able to establish positive trade contacts and gem and jewellery sector and handicraft sector companies were able to make spot sales. The best performing sectors at this event in Kunming were gems & jewellery, handicrafts products, value added tea and coconut based products. The export community in Sri Lanka, especially the SME Sector is looking forward to this annual event as this gives them an opportunity to gain overseas experience at a low cost and make spot sales. This event also provided a good platform to create awareness about investment possibilities in Sri Lanka among the Chinese business community.”

The theme of the third CSAE was "amity, sincerity, mutual benefit and inclusiveness as well as win-win cooperation". 3rd CSAE was ceremonially opened by Li Yuanchao (Vice President of China) and the event was held at the Kunming Dianchi International Convention & Exhibition Centre (KDICEC).