Sri Lanka's Apex Organisation for Export Promotion
Sri Lanka's spice exports rose 40 percent to $329 million in 2013 from $ 236 million in 2012. Spice export revenue was US$ 115 million in 2009,The Export Development Board (EDB)statistics revealed.
As Sri Lanka's spice exports leaped by 40%, a new program was launched by the EDB last week to boost exports of the perennial crop. Meanwhile, a leading packaging consultant said that the Sri Lankan export packaging sector is now maturing with more ‘high barrier package’ visibility.
“The key factor is how to market our spices. Our spices are traditionally exported in bulk form. Sri Lanka now encourages value added exports and discourages raw exports.
As the first ever Global Rubber Confab to be held in Sri Lanka is announced on 28 August, the country positioned its historic rubber industry to be a $ 3B sector. And a top global rubber body voiced that rubber prices would recover ‘before very long’.
“We are now aiming at an ambitious $3B rubber industry in the coming decade. To arrive at this $3B in a viable manner, it is essential for us to support our rubber farmers. I believe it is time for a long term development plan for this sector. The 2013 rubber exports of $960 Mn is a 100% increase compared to rubber exports five years ago” said a keen Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) on 29 August in Colombo.
The forthcoming Lanka-China FTA has electrified no less than a $8B global apparel giant who is also the world’s largest shirt maker. “We are very excited about the forthcoming Lanka-China FTA; having duty free market access to China is very important for us as an apparel sourcing firm and the benefits are great.
This is even more important for us since we have considerable income from Asia-30% of our turnover from Calvin Klein brand alone originates from Asia!” said Mark Green, the Executive Vice President of Global Supply Chain of New York’s PVH Corporation on 14 August in Colombo.
Enhanced trade cooperation cemented by a new Joint Trade Committee will open Sri Lanka’s anticipated trade volumes with Africa said Seychelles on 27 August. Lankan exports to Africa’s top blue economy as well as transit passenger volumes to Colombo is now on the increase as a result of recent air connectivity.
“The prospective Joint Trade Committee between Sri Lanka and Seychelles will be Sri Lanka’s platform for accessing the huge African market. Almost all the issues regarding quarantine of certain exports have now been resolved and all requirements met! As a result we are now receiving loads of more Lankan fresh fruits and vegetables than before,” said an upbeat Minister for Finance, Trade and Investment of Seychelles Pierre Laporte in Colombo.
Spice exports have recorded a 40% increase, with the key challenge being how to market Sri Lanka’s products to gain better returns, an official said yesterday.Sri Lanka’s total spice exports in 2013 stood at $ 329 million, rising by 40% from 2012’s $ 236 million. Last year’s spice exports revenue were also a leap of more than 100% from 2009’s $ 115 million, Export Development Board Chairman Bandula Egodage told companies at the first national packaging awareness seminar.
Over 50 small and medium enterprises will take part in FACETS Sri Lanka 2014, the international gem and jewellery exhibition, according to the organising committee. Organised by the Sri Lanka Gem and Jewellery Association (SLGJA), this year’s event held for its 24th year, will be held from 4-7 September at the Sirimavo Bandaranaike Memorial Exhibition Centre.
Sri Lanka has garnered more than $4.6 Mn orders at the recently concluded Kunming Int’l Fair in China-and this too is only from the initial overview of Kunming outcomes rather than any in-depth totals. “I am pleased of the performance of the delegation of 119 companies and businesses that I led to Kunming. I commend EDB for this successful facilitation effort” said a satisfied Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) on 31 July in Colombo.
The rubber industry is facing great challenges from an increasingly competitive global market, said Dr Abdul Aziz, Secretary General of International Rubber Research and Development Board (IRRDB) and also the Chairman of Confexhub Malaysia on Thursday in Colombo.
Announcing the Global Rubber Conference to be held in Sri Lanka in October, he said that in the past few years, many other commodities had surpassed the rubber industry and therefore, it was imperative for the rubber industry to gear up and meet those challenges. The 4th Global Rubber Conference (GRC 2014), one of the world’s leading conferences on rubber sector, is to be held in Colombo from October 27 to 30.
The World Export Development Forum (WEDF), a flagship event of the International Trade Centre (ITC), is bringing its 14th edition to Africa, with a dedicated focus on entrepreneurs.
Dedicated to supporting trade-led inclusive and sustainable development, the forum will be held in Africa for the first time, and is slated to take place in Kigali, Rwanda on 16-17 September, under the theme SMEs: Creating jobs through trade.
Besides, participants at the 14th World Export Development Forum (WEDF) will have the opportunity to hear expert views from entrepreneurs, policymakers and representatives of trade support institutions on how both new technology and traditional sectors can help promote growth.
No less than 130 reps from 125 Lankan firms thronged the first bilateral B2B call between Sri Lanka and Seychelles biz ever to be held in Colombo on 27 August. “Today’s event can be a stepping stone for more bilateral trade between both countries, which is an urgent need at this moment. The total bilateral trade has been low at only $3.7 Mn. Today’s initiative therefore is a major step in this direction” said Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) on 27 August in Colombo.
The Government of Vietnam, while unravelling Lankan investment volumes within its borders, signalled on 22 August of its own investment push towards Sri Lanka-and coming from its high levels. “Already 10 Sri Lankan investment projects are in Vietnam. Vietnam investors and businesses too are eager to go out of the country and invest.
I hope the Government of Sri Lanka would create an enabling environment for Vietnamese business and investors” said a keen Pham Binh Minh (the Vietnamese Deputy Prime Minister who is also the Minister of Foreign Affairs of Vietnam) on 21 August in Hanoi.
The first ever Sri Lanka Vietnam official trade mechanism went live in Hanoi on 21 August. And the new mechanism, according to the Vietnamese side, is the practical way for bigger trade cooperation in the form of an Agreement.
“Today’s new beginning will open many new opportunities for both countries. I am fully convinced that setting up of a Joint Working Group (JWG) or Joint Trade Sub Committee, would lay a concrete foundation to enhance the existing bilateral trade and economic relations new heights. My Ministry would closely monitor the progress” said n Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) at the Head Quarters of Ministry of Industry and Trade of Vietnam, Hanoi on 21 August.
Exports, the lifeline of Sri Lankan economy, are a national priority. The urgency of the exports accelerating strategy is such that it could kick-start even before its full design cycle is over. Meanwhile, brand Sri Lanka packs hidden potentials that could be leveraged for national export growth.
For the first time, Syrian investors' view on trading and investing in Sri Lanka has been revealed in a first-hand account on 13 August in Colombo. And the cash rich Syrians want to set up active projects first, rather than sending a stream of hot funds.
“As countries, Gulf economies are richer than Syria but when it comes to individual countries’ private capital volumes, everyone knows that Syrians are way ahead and much more liquid than private capital in Gulf region. The main issue now is that the Syrian industrial community is on the lookout for an investment hub due to the current unrest in Syria. There are a few keen big investors who are studying Sri Lanka closely” said an upbeat Dr Mhd. Moussallam Al Droubi (CEO of Al Droubi Group and the Hon Consul of Sri Lanka in Damascus, Syria) on 13 August in Colombo.
In 2013, Sri Lanka's natural rubber sheet exports stood at US $71.6 million, while the export of finished rubber goods stood at US $ 887 million, compared to US $ 856 million in 2012, an increase of 4%, said Industry and Commerce Minister Rishard Bathiudeen at the inauguration of the second edition of Sri Lanka PLAST and the first edition of RUBEXPO at the BMICH last week.
“Our plastic exports stand at US $60.11 million compared to US $ 57 million in 2012, an increase of 5%. We encourage value addition for rubber exports. These two sectors have been identified as thrust industries and are expected to contribute significantly to national economic growth and help meet our planned 7.8% GDP target this year,” he said.“Our company exports rubber products and slippers to India in fairly large quantities.
When it comes to global trade parities of the world’s 10th largest economy, the most balanced trade it conducts is with Sri Lanka, India claimed yesterday.
“India has the most balanced trade with Sri Lanka among its major trade partners. Both sides are involved in continuing discussions to take economic engagement to the next level,” said Indian High Commi-ssioner in Sri Lanka Y.K. Sinha yesterday.
Sinha was addressing the singular inauguration event of two expos on 14 August – the second edition of Sri Lanka Plast and the first edition of RUBEXPO at the BMICH. Also taking part were Minister of Economic Development Basil Rajapaksa, Minister of Industry and Commerce Rishad Bathiudeen, Ministry of Industry and Commerce Secretary Anura Siriwardene, EDB CEO Bandula Egodage and EDB DG Sujatha Weerakoone.
As bilateral free trade leaped by a huge 40%, Sri Lanka’s biggest supplier in the world nodded in agreement on 7 August that a wider and consistent trade harmonisation push could remove existing barriers in one go -and amplify bilateral business.
“Sri Lankan businesses that invested in India have done very well. I agree with you that a wider Mutual Recognition Agreement will be useful to increase bilateral trade. I also agree that the lack of unified market standards across various states in India could be an issue for Lankan exporters,” said a keen Arindam Bagchi (Deputy High Commissioner of India to Sri Lanka) on 7 August in Colombo.
Deputy High Commissioner Bagchi was addressing Minister of Industry and Commerce of Sri Lanka Rishad Bathiudeen on 7 August during the first courtesy call he made on Minister Bathiudeen. Deputy High Commissioner Bagchi previously served in such stations as Beirut, New York, Spain and was finally functioning as the Director of Indian Prime Minister’s Office (PMO) before he arrived in Colombo. Joining Minister Bathiudeen on 7 August were Department of Commerce of Sri Lanka DG R.D.S. Kumararatne and EDB Chairman/CEO Bandula Egodage.
Plastics and Rubber Institute of Sri Lanka (PRISL), together with Enterprising Fair India will conduct the 2nd edition of SRILANKA PLAST – a Plastics Expo and the 1st Edition of RUBEXPO – a Rubber Expo on 14, 15 and 16 August 2014 at BMICH, Colombo. Below are the excerpts of an interview conducted with Enterprising Fairs India Ltd Managing Director B. Swaminathan in light of the exhibition.
Sri Lanka will feature a rare international confab this November –and many top global fishery experts and exporters will gather together in one place for the first time in South Asia, as announced on 12 August. “First ever International Ornamental Fish Conference to be held in Sri Lanka is taking place this November with EDB’s support. We thank Malaysia based INFOFISH for affording this opportunity to Sri Lanka” said an upbeat Bandula Egodage (Chairman/CEO-EDB) on 12 August at EDB.
Chairman Egodage was meeting Dr Abdul Basir Kunhimohammed (Director General- INFOFISH) on 12 August at EDB. Visiting INFOFISH DG Dr Kunhimohammed is currently in Colombo to hold preparatory meetings with Lankan stakeholders for the first ever INFOFISH Global Conference to be held in Sri Lanka titled “Sri Lankan International Ornamental Fish Conference” scheduled on 10-11 November at Kingsbury Hotel, Colombo.
As apparel revenues topped $2.4 Bn in ’14 1H, in a new development, Korea has extended its support to enhance industry capacity in North-and Sri Lanka’s crucial apparel industry training efforts have now expanded to regions for the first time.
“We are receiving today’s apparel technical support thanks to Korea International Cooperation Agency (KOICA) and the Government of Korea. Thanks to KOICA, our apparel training efforts have entered the regions” said Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka and Vanni MP on Sunday (04) in Mannar..
