Kunming ’14 rakes in $4.6M for Lankan biz

Asian Tribune - 01/08/2014

Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka-centre) readies to inaugurate Sri Lanka Pavilion at the Kunming 2014 expo on 06 June in Kunming, Yunnan Province.

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.

Minister Bathiudeen was responding to the briefing by Bandula Egodage (Chairman/CEO-EDB) on the success of recently concluded China–South Asia International Expo in Kunming, China.

On 04 June, Minister Bathiudeen led a Lankan delegation of 119 companies facilitated by the EDB to take part in the second China–South Asia Expo and 22nd Kunming Fair held in Kunming, China. EDB was assisted by the Sri Lankan Embassy in Beijing, China.

The expo, which concluded on June 10 featured over 1000 enterprises from 46 countries and regions. The Kunming Fair has become one of the four top annual events (such as the Canton Fair) in China’s trade calendar. Due to its high prominence in the trillion dollar GDP nation, the Kunming Fair has become the second biggest annual fair in the South West China region. Sri Lanka has consistently been one of the strongest South Asian participants at this expo.

Sri Lanka has been taking part in this event when it was held for the first time in Beijing in 2007.

The fair was jointly hosted by China’s Ministry of Commerce, the Governments of Yunnan, Sichuan, Chongqing, Guizhou, Guangxi and Tibet, and Chengdu Municipal (People’s) Governments. Minister Bathiudeen also took part at the China-South Asia Business Forum held on the sidelines of Kunming event on 07 June. Addressing the Forum, Minister Bathiudeen stressed: “China has been not only a promising market for Sri Lanka products, but also, a development partner. Total trade between the two countries has increased up to US $ 3619 Mn in 2013, showing a steady growth from US$ 1141 Million recorded in 2006. It is important to note that these improvements are reflected in both directions in our bilateral trade. Sri Lanka’s exports to China, although it is still at a comparatively lower level, have increased from US $ 35 million in 2006 to US $ 182 million in 2013. This is a clear indication of the potential that exists for further expanding our exports to the large Chinese market. We are also pleased to see that Sri Lanka is among the few Countries in the Asian Region which recorded positive export growth with China during last few years.”

Accordingly, Sri Lanka pavilion was located at the hall No.6, in the South Asian pavilion at the Fair. The participating Lankan businesses have informed EDB that at the end of the event, they were in receipt of confirmed product orders exceeding $750,000 with additional $3M under negotiation while more than $800,000 sales leads being generated for Lankan exports. This is apart from general sales inquiries for Lankan products to the tune of $140,000. EDB delegation represented such diverse product and service sectors as tea, gem and jewellery, arts, crafts and handicrafts, coconut fibre, Ayurvedic and herbal products, and even gem cutting and polishing.

According to EDB, Sri Lankan gem and jewellery stalls, among others, reported attracting very high numbers for their displays while Lankan Ayurvedic preparations –a novelty to Kunming-too drew strong attention. 119 Lankan businesses at Kunming Fair were assisted by Dr Yousuf Maraikkar (Executive Director-EDB).

At the 2nd Sourcing Event at the Fair, which was one of the most influential brand-name activities of the Kunming expo, some of the Sri Lankan companies met Chinese retail chain, whole sellers and supermarket representatives in China and had initial discussions. The BOI and the EDB made presentations at this event. The Sourcing Event consisted of professional sessions for purchasing commodities and services from South Asian countries.

Lanka exports clinch hat trick win in first half

news.lk - 30/07/2014

Sri Lanka’s exports sector has clinched a triple win for 2014 1st half (January-June) –a first time event.

“Latest reports are good news for our $20B goal therefore we should commend our committed exporters for this achievement” said  Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka onMonday (28) in Colombo.

Minister Bathiudeen was responding to Bandula Egodage, Chairman/CE-EDB who briefed him of the latest provisional export revenues.


Accordingly, Sri Lanka’s latest provisional export numbers have recorded the highest first half earnings witnessed in five years, topping it up with a YoY revenue jump in 1H -2014 in comparison to 1H-2013, while also surging on a monthly basis in May-June ‘14.  Monthly increase in 2014 June is also a steady continuation of the upward trend of quarterly exports that began in March ‘14.

Sri Lanka January-June ’14 provisional exports recorded the highest 1H earnings since Y2010, and registered $5410.4 Mn ($5.4B) in total. This is a huge 45% jump from H1 2010 which stood at $3741 Mn. ‘Manufacturing exports’ led the surge of 1H 2010 to 1H 2014 five year span, rising by almost 100%, followed by agro exports (by 70%), industrial exports (by 69%), fisheries exports (by 65%), apparels (by 57%) and tea (by 56%).

The latest rise is also seen YoY-in comparison to 1H-2013 ($4.66B), 1H-2014 increased by 16.08%. As for 2013/’14 YoY key sectors of growth for 1H, fisheries spearheaded the surge with a rise of 24% (to $140.22 Mn), followed by agriculture (rising by 22% to $1303.2 Mn), apparel (rising by 20.40% to $2400.5 Mn), unclassified (rising by 17% to $ 18.81 Mn), manufacturing (rising by 14.15% to $ 1171.39 Mn) and industrial products (rising by 14% to $ 3948.19 Mn). On a 1H YoY comparison of export regions, the highest exports growth is seen from the African region (41%), followed by EU (19%) and the Middle East (19%), US (17%), Central and Eastern Europe (15%), BRICS (14%), Latin America (12%), South Asia (11%) and CIS      (6%). Leading five markets (countries) of exports on YoY in 1H 2014 are US, UK, Italy, India, and Germany.

On a monthly basis, latest provisional exports for June ‘14 have risen by 12.09% to $988.63 Mn from ’13 May’s $882 Mn. Textiles and garments spearheaded the monthly growth, rising by 22.32% to $444.39 Mn, followed by industrial products (rising by 14.12% to $714.68 Mn), agricultural products (rising by 10.26% to $251.80 Mn), manufacturing (rising by 2.36% to $204.59 Mn), and petroleum products (rising by 1.69% to $30 Mn). Within agricultural products, tea exports have grown by 9.06% to $151.13Mn, coconut grew by 5.01% to $ 48.25 Mn, and other export crops (such as spices, fruits and vegetables) have grown by 22.08% to $49.48 Mn. Within manufacturing, electronic, electric and machinery products rose by 3.13% to $ 31 Mn, footwear rose by 46% to $ 9.03 Mn.

Country’s apex export body, the EDB, is now working towards $20B export goal by 2020.(KH)

Japan positive on FTA, wants economic regime strengthened

Asian Tribune - 30-07-2014

Kazuyoshi Akaba (the visiting Japanese Senior Vice Minister of Economy, Trade & Industry (METI) -at right) in discussions with Sri Lankan team led by Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka-at left) on 28 July in Colombo.

As Sri Lanka-Japan bilateral trade jumped $890 Mn and edged to $ 900 Mn mark, a keen Japan signalled towards a Lanka-Japan FTA for the first time-albeit with a qualifier. “In terms of country risk and future potential, I believe Sri Lanka is quite promising. We consider that FTA and EPAs as very useful means to promote trade. Mere conclusion of FTAs alone is not sufficient for better trade however. What is important is to develop a very robust foundation here” said a confident Kazuyoshi Akaba, the visiting Japanese Senior Vice Minister of Economy, Trade & Industry (METI) on 28 July in Colombo.

Japanese Minister Akaba was responding to Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) on 28 July during his bilateral session with the Sri Lankan team led by Minister Bathiudeen at Ministry of Industry and Commerce, Colombo 3.

Japanese Minister Akaba- who graduated from Faculty of Law, Keio University and who once worked with Japanese multinational Mitsui’s Beijing station as a Senior Corporate Exec-is the first Cabinet ranked METI Minister to visit Sri Lanka after two decades and is accompanying a six member Japanese team to Colombo. It is the second time that Akaba is in Sri Lanka-his first visit being 30 years ago.

Joining Minister Bathiudeen on 28 July afternoon were Admiral Wasantha Karannagoda (Ambassador of Sri Lanka in Japan), Anura Siriwardene (Secretary, Ministry of Industry and Commerce), Bandula Egodage (Chairman/CEO, EDB), and R D S Kumararatne (DG Department of Commerce).

According to the Department of Commerce of Sri Lanka (DoCSL), Japan is the 9th largest export destination for Sri Lanka’s exports with a share of 2%. As for imports, Japan ranks at 6th supplying 4% of Sri Lanka’s total imports. The Department of Commerce of Sri Lanka has initiated the Economic Partnership Agreement between Japan & Sri Lanka this year in collaboration with METI. Two preparatory meetings were already held in this regard with the relevant line Ministries and proposals also have been obtained. The top three Lankan exports to Japan in 2013 were tea (22%), apparel (17%), and seafood (17%). 52% of 2013 imports bill from Japan was spent for motor vehicles.

“In terms of country risk and future potential, I believe Sri Lanka is quite promising. We consider that FTA (Free Trade Agreement) and Economic Partnership Agreement as very useful means to promote trade. Mere conclusion of FTAs alone is not sufficient for better trade however. What is important is to develop a very robust foundation here-foremost, the necessary infrastructure and to also an investor friendly environment; these will lead to conclusion of FTA and EPA with Sri Lanka in future” ” said a confident Japanese Minister Akaba and added: “We concluded many FTAs with our trade partners. There have been many FTA successes and failures for us. As for Sri Lanka, let’s do whatever we can and I am hopeful that we can jointly go for win-win relationship.”

Addressing Minister Akaba, Minister Bathiudeen said: “Sri Lanka is expecting a GDP growth rate of 7.5% this year. The total trade with Japan which stood at US$ 566 Mn in 2004 increased by 58% to $894 Mn in 2013. In 2013 exports to Japan stood at $224 Mn, showing 4% increase from 2012 export levels. We already have FTAs with India, Pakistan and discussions are under way for FTA with China. Sri Lanka wishes to considerably expand trade and economic cooperation with Japan and it is time for a Free Trade Agreement between the two countries. We welcome Japanese engagement towards our five hub strategy for mutual benefits. Sri Lanka is also keen on receiving strong trade delegations from Japan. We specially invite Japanese investors to our apparels, ceramics, light engineering, leather products, food processing, leather products and tourism. Already 141 Japanese business enterprises are active in Sri Lanka.”

According to the BoI, at present, there are about 60 enterprises with Japanese investment alone are operating in Sri Lanka under the section 17 of the BOI Law. As of December 2013, they have invested about US$ 325 Mn, providing about 10,000 employment opportunities for the Lankan community. In 2013, Japanese FDI inflows to Sri Lanka stood at $ 37.62 Mn. Japanese Investors already benefit from the Double Tax Relief Agreement and the Bilateral Investment Protection Agreement signed between Sri Lanka & Japan.

“We attach great significance to Sri Lanka as the Hub of the Indian Ocean. We predict that Indian Oceanic IORAC ARC region to be a strong export market for Japan-receiving 16% of its total exports by 2040, and therefore Sri Lanka is firmly in our view as a hub” responded Japanese Minister Akaba, and added: “We realised that Sri Lankan business climate to be better than we expected. Therefore for Japanese investors, Sri Lanka offers medium to long term prospects. But Sri Lanka have some work to do-needs to overcome shortage of skills in its manufacturing, needs to re-introduce business visa for Japanese businesses, and mitigate higher electricity tariffs so that Japanese investors, instead of moving to Vietnam, Indonesia and Thailand, can seriously pay attention to this country. Better electricity tariffs are vital for Japanese manufacturers since 88% of our power generation costs are due to thermal power and more importantly, in the aftermath of 2102 Fukushima issue, we are now paying J-Yen 3.6 Trillion more for our energy needs. Still, Japanese coal power technology is one of the best in the World.”

Responding to Japanese Minister Akaba, Minister Bathiudeen said: “Thanks to the industrial vision of HE the President Mahinda Rajapaksa, we are providing electricity to industries at a concessionary rate so that they do not face huge cost pressures. A new power generation facility, the Sampur power project, too is now on the cards. I invite Japanese investors to invest with us and to make use of these additional facilities as well.”

Both Minister Bathiudeen and Minister Akaba also delved on Japanese development support to Sri Lanka on 28 July.

Global Rubber Conference 2014 to be held in Sri Lanka

Sri Lanka has been selected to host one of the world’s leading conferences on natural rubber Global Rubber Conference (GRC) 2014.

The three-day international event will be held from 27 to 30 October 2014 at the Cinnamon Grand in Colombo.

Global Rubber Conference 2014 themed “Sowing the Seeds for Sustainable Future” is expected to bring together over 700 experts and delegates representing over 25 countries.

Government officials, rubber producers & planters, traders, importers & exporters, manufacturers of rubber products, commodity and investment analysts, rubber machinery & equipment suppliers and their supporting industries are expected to attend the conference.

The Conference is Co-organized by the Sri Lanka Export Development Board (SLEDB) and supported by the International Rubber Research Development Board (IRRDB) and over 20 global government agencies and associations.

The GRC 2014 will be locally supported by the Ministry of Industry and Commerce and the Ministry of Plantation Industries.

It will be addressed by 18 eminent guest speakers who represent government agencies, rubber research bodies, rubber associations and commercial companies.

The conference aims to bring together both regulatory authorities and commercial players of the rubber world to provide updates on current trends and future challenges faced by the natural rubber industry.

MINT- an opportunity to diversify Sri Lanka’s export markets

The Island - 23/07/2014
By Nikita Samaratunga

In 2001, economist Jim O’Neill famously coined the term ‘BRIC’ to refer to the newly emerging economies of Brazil, Russian, India, and China. In 2014 O’Neill has now popularized a newer and what the BBC calls ‘fresher’ term – MINT – Mexico, Indonesia, Nigeria and Turkey (put forward by Fidelity Investments).

In a time where many developed nations are facing a crisis with regard to their ageing population, what makes MINT stand out, according to O’Neill, are their favourable demographic statistics. Mexico, Indonesia, Nigeria and Turkey are four of the world’s most heavily populated emerging economies, with populations of 118, 237, 174 and 73 million respectively. To add to that in the next 20 years all four countries will see a rise in the number of economically active workers to inactive - meaning they will have a declining dependency ratio. What this will do is ease the burden off the government. In recent years an increasing dependency ratio has plagued countries from the UK to Japan, putting pressure on government budgets and the shrinking work force. Thus the demographics of MINT will certainly be a source of envy for their more developed counterparts.

In an interview with BBC, Mexican Foreign Minister Jose Antonio Meade Kuribrena alluded to another factor that had allowed MINT to stand out. This was the four countries favorable geographical location. Mexico neighbors the world’s current superpower the USA and borders Latin America, a region that has exhibited high growth rates and enormous potential in recent years. Indonesia is strategically located in South-east Asia, with Turkey straddling the West and East. With increased investments and partnerships being made on the African continent, Nigeria has significant potential given its access to Atlantic Ocean.

According to World Bank statistics in 2013 Mexico, Indonesia, Nigeria and Turkey grew by 1.1%, 5.8%, 7.0% and 4.0% respectively. The MINT’s in comparison to the BRIC nations have smaller economies. However, as growth in the BRIC nations has slowed, attention has been focused on MINT who are expected to show strong sustained growth over the coming decade. However all that glitters is not gold- the MINT nations have also been plagued with problems from political instability to corruption, as well as feeling the aftershocks of the recent global financial crisis.

Sri Lanka enjoys a healthy trade relationship with IRC, with India, Russia and China being major export destinations for Sri Lankan products. Furthermore politically the country has, in particular, over the years, seen the strengthening of ties with Russia and China. Sri Lanka’s relations – both economic and political – with MINT, remain surface. There is huge potential however to be explored given the young demographic which makes for a large labor pool and consumer market; pro-business legal systems in place and governments that have made economic growth their top priority, particularly in countries such as Mexico; and the strategic positioning of these four countries. Thus, in a day and age where the Sri Lankan export sector, one of the main drivers of economic growth and development in the country, is characterized by product concentration and heavy dependence on a few markets, the emergence of MINT provides a opportunity for Sri Lanka to expand its horizons.

Currently the Mexican, Turkish and Indonesian markets respectively make up 1.5% 1%, 0.5% of our exports (2013) (there are currently no Sri Lankan exports entering the Nigerian market). The rise of MINT presents an opportunity to increase our share in these markets, in line with the objectives of the Mahinda Chintanaya and the Export Development Board of Sri Lanka, which aims to increase exports to markets other than the EU and USA. Looking at the current imports of MINT there is significant potential in the export of rubber and related products, apparel, precious stones, and fish to these four countries, all of which are Sri Lanka’s key export sectors. What the country must do is view the rise of MINT as an opportunity to reduce its dependency on the traditional markets of Europe and North America and strengthen relations with these new and emerging markets.

“Sri Lanka will be in the next five emerging countries”: French Ambassador

Daily FT- 23-07-2014

A session on ‘Bilateral Trade between Sri Lanka and France’ organised by the National Chamber of Commerce was held with the participation of  Ambassador of France Jean Paul Monchau, as a Special Guest Speaker and assisted by Commercial  Counsellor of the Trade Section of the Embassy Jean Louis POLI, at the Chamber, last week. Additionally Government senior officials- Director General Commerce, Director General, Export Development Board and Board of Investment graced the occasion.

The Ambassador gave a very impressive presentation on bilateral trade between the two countries and the potential products and services in demand in France. He said that France is open to FDIs; two foreign countries each day invest in France. Sri Lanka should take the opportunity and invest in France. He said that the main exports to France from Sri Lanka are mainly apparel and garment products, other items are rubber based products, coco peat and fibre. Potential exportable items are gems and jewellery, spices and cashew nuts and also huge potential for tourism and investment.

The Ambassador said that he is amazed at the vast strides made in Sri Lanka and surprised to see the rapid development taking place after the war in Sri Lanka. We quote from his speech “A few years back news we receive from Sri Lanka were mainly on the war situation but this has changed drastically in the recent past. I am very confident and positive of the economy of Sri Lanka and I want to communicate this situation to my Government and the French businessmen at the transformation of Sri Lanka.
“I just would like to comment on Sri Lanka handling the CHOGM, it was very well organised with the required infrastructure. I appreciate the spirit of the people in Sri Lanka, they are very positive thinking, Sri Lanka would be included in the next 5 emerging countries in the world! According to COFACE, the French Trade Insurance Company, growth figures of Sri Lanka looks very impressive, recently Time Magazine listed out countries for investment, and Sri Lanka was one of them. Recent visitors from France were surprised at the infrastructure development.”
He further said, “Business people investing in India will now look at Sri Lanka as an investment destination. There are around 300 French companies present in India. I attended a Business Forum in India in September last year, as I had just taken up post in Sri Lanka, I will invite them to come here, economy is growing and the purchasing power of people are also growing. I feel that Sri Lanka would be an attractive destination for investment.
“I recently visited Hambantota Sea Port, which has been a controversial subject in your country, but I am confident in 15 years time no one would say that it was a wrong decision. Already Colombo Port is congested, there are nearly 200 vessels passing Sri Lanka every day in the Indian Ocean, if you attract 4 or 5 vessels a day, it will be a very good start for Hambantota,” he said.
Speaking at the session, Director General of Commerce, R.D.S. Kumararatne said businessmen who are interested in business in Europe may contact the Dept of Commerce and said that he has officers stationed in many countries including France for business development activities. He said that Sri Lankan businessmen could contact the Dept of Commerce directly so that appropriate support could be extended. Addressing the gathering Director General, Sri Lanka Export Development Board, Sujatha Weerakoon said exporters who are interested in exporting to France and other European countries could directly contact EDB and they could assist them accordingly.  Board of Investment, Director Promotions, Dilip Samarasinghe emphasised on the facts and figures of investment environment in Sri Lanka.
In conclusion, the President of the National Chamber, Sunil Wijesinha, thanked the Ambassador for the positive thinking on Sri Lanka which is a much needed perception to be spread to the world.
Many chamber member company representatives were present at the interactive session, and the Ambassador and the Commercial Counselor answered the queries put forward by the participants. It was a well attended event.

Sri Lanka Plast and Rubexpo launch in August

Daily FT - 21/07/2014

Enterprising Fairs India Limited, a B2B exhibition company from India, has collaborated with the Plastics and Rubber Institute of Sri Lanka (PRISL), to conduct their second edition of Sri Lanka Plast – a Plastics Expo and the first edition of Rubexpo – a Rubber Expo on 14, 15 and 16 August 2014 at BMICH, Colombo. The Ministry of Industry and Commerce (MOIC), Export Development Board (EDB), Industrial Development Board (IDB), Rubber Research Institute of Sri Lanka (RRISL) and Central Institute of Plastics and Engineering Technology, a government body of India (CIPET) have also extended their support to these B2B exhibitions.

The plastics and rubber expos are B2B exhibitions bringing over 150 exhibitors from 10 different countries, including Sri Lanka, India, China, Taiwan, Japan, Italy, Philippines etc. showcasing their, machinery and technology available.
There will also be a guidance booth for young and aspiring entrepreneurs who can get direction on how to start a business in the plastics and rubber industry. This expo is set to attract over 20,000 visitors over the three days according to the organisers.

On behalf of the organisers Enterprising Fairs India Ltd. Managing Director B. Swaminathan said, “As a catalyst that encourages trade, we are happy to launch two significant expos focussing on plastics and rubber, which play an integral part on local export earnings. As a developing nation Sri Lanka is opening up with its economy and infrastructural advantages, there is no better time than this to open up the country and inviting international businesses to experience its riches.”

As a prelude to these exhibitions, PRISL together with Enterprising Fairs has planned an International Seminar on Trends and Advancements in the fields of plastics and rubber on 5 August and an exclusive CEO Forum on 1 August at The Kingsbury Hotel, Colombo to encourage the plastics and rubber industries to take ‘exports’ as growth strategy. Experts from the Government, EDB and few from India are expected to address this elite forum, powered by Sri Lanka Plast and Rubexpo. People who want to visit these expos are encouraged to pre-register to the seminars through www.enterprisingfairs.in or call 0114545687 for more information.

Lankan boats get international exposure

Ceylon Today - 20/07/02014
By Ravi Ladduwahetty

Sri Lanka's boatbuilding capability for international markets will be further showcased when the Boat Show and Fisheries Exhibition 2014 will be held at the Dickowita Fisheries Harbour from 10-12 October.


Also coinciding with this event will be the International Council of Marine Industry Associations (ICOMIA) regional parley, which will be held at the Pegasus Reef Hotel, also from 10-12 October. Both events will be hosted by the Sri Lanka Export Development Board (SLEDB) in collaboration with the Boat Building Technology Improvement Institute (BTI) and the Building A Future (BAF) Foundation.

Strengthening the boat industry
In addition to the regional meeting, an industry conference will be organized with eminent speakers from ICOMIA for the benefit of the local industry in Sri Lanka, where over 25 resource personnel will also address the parley.

Boat building is a lucrative and thriving industry which was capitalized by the western world during the previous decade. The centre for manufacturing boats is now moving toward developing countries from developed countries mainly due to the competitive labour costs and the skilled and trainable workforce offered by these countries. The increased demand for boats worldwide for fishing, industrial, commercial and leisure purposes open up huge opportunities and new markets for boatbuilding in Sri Lanka, due to its strategic location, highly trainable workforce and labour cost advantage.
The EDB has identified the boatbuilding industry as a key product sector which contributes markedly in achieving the export target of US$20 billion in 2020.

The wide range of products and services offered from this sector includes yachts, pleasure and leisure boats, fishing boats, fast attack craft, passenger, sports, rescue, coast guard and patrol boats and boatbuilding accessories.
There are around 20-25 active boat yards around the country out of which 10 boat yards have medium- to large-scale manufacturing facilities and others are small scale manufactures. Sri Lanka's main export markets for ships and boats are Seychelles, Singapore, India, the Netherlands, Norway and Mauritius.

Some of the potential buyers of Sri Lankan boats internationally are hotels and resorts, private fish importers and exporters, boat builders, tourism authorities, adventure clubs and water sports enthusiasts, Navy and Coastal Guards, underwater diving and salvage operators, yachting and sailing clubs among a host of others.

Building a potent network

Founded in 1967 and officially located in the United Kingdom (UK), ICOMIA is an international trade association that brings together national recreational marine industries. ICOMIA has currently 34 full members representing virtually all countries with an active recreational marine industry in Europe, North America, Asia and Australia.
The ICOMIA organizes the biannual World Marine Conference and biennial regional meetings in various countries around the world with the objective of improving the quality of the recreational boating experience through the development of marinas, yacht harbours, boatyards and small boat launching ramps.

Hosting of an ICOMIA Regional Meeting in Sri Lanka will create awareness amongst all concerned, competence in the boat building sector and the massive potential for marine tourism in the country. Interaction with members with international expertise in marinas, recreational boating facilities, boat storage development, management and education will not only benefit Sri Lanka in exchanging relevant technical, environmental, and marketing information but in attracting much-needed investment opportunities for the boat building and marine tourism sectors by improving the profile of the country in the international arena.

With all our competencies and skills, Sri Lanka can project a more positive and favourable image if we pay particular emphasis on product and market diversification. We have already proven our expertise in the manufacture of boats with internationally accepted standards and quality.

"The increasing demand for boats worldwide for fishing, industrial, commercial and leisure purposes has opened up huge opportunities and new markets for the boat building industry of Sri Lanka, due to its strategic location, highly trainable workforce and the labour cost advantage," says Chairman of the EDB, Bandula Egodage.
He also noted that a promising competitive domestic industry always compliments the development of a successful export-oriented industry.

There is a growing interest in the boating activities in Sri Lanka which will create additional domestic market opportunities for the industry. The fishing industry in Sri Lanka, too, is moving towards deep sea fishing using multiday boats creating opportunities in the fishing boat sector.
Several improvements in the tourism industry; the influx of fairly high-spending tourists, more international hotel chains investing in Sri Lanka; will definitely pave a way for a boat building industry to thrive.

The EDB Chief also feels it was high time for the boat and ship building industry to develop a new strategy to make use of the full potential of these developing trends in the international and domestic markets.
The first-ever Boat Show in 2008 opened up a new frontier of fishing leisure, industrial and commercial vessels and marine tourism where 44 stalls displayed Sri Lankan capabilities.

Following the success of the 2008 show, Sri Lanka continued this momentum by making Boat Show a biannual event and organized its second and third editions in 2010 and 2012, respectively.
The Boat Show Sri Lanka, which is considered South Asia's most focused and largest international boat exhibition, continues to build up a strong network for the Sri Lankan boat industry.

The Boat Show Sri Lanka 2014 will be once again organized with the objective of providing a single platform for all related business sectors involved directly and indirectly in the boat industry to display and promote their respective sectors for potential clients.

EDB enters WTO global benchmark

Daily News - 17-07-2014

For the first time, the Export Development Board has entered WTO, UNCTAD, ITCs benchmark of global export agencies and finished among the top ten. EDB has come to the sixth spot among 30 national trade promotion organisations across the world, benchmarked by the International Trade Centre under WTO and UNCTAD. EDB's score in 2012 study is above average and the next level to move is 80% "High level TPO Performance" category and then, finally to 100% -what we call "world class".

"EDB has done quite well in International Trade Centre's 2012 Lanka EDB benchmarking test. EDB has come to sixth spot among 30 national trade promotion organisations across the world, benchmarked by us-the International Trade Centre under WTO and UNCTAD" said Geneva based Martin Labbe (Senior Officer, Trade Support Institutions Strengthening, International Trade Centre, Switzerland) in Colombo addressing the inaugural session of the four day "Performance Improvement Roadmap for Sri Lanka's EDB by ITC" at the EDB Auditorium, Colombo.

"The identities of the 30 countries of the benchmarked index are kept confidential by ITC. However, let me say that among the top ten, where Sri Lanka too is now placed, are countries with high economic development and social rankings -such as from the influential global grouping of Organization for Economic Cooperation and Development (OECD)," said ITC Senior Officer Labbe.

EDB Chairman and CEO Bandula Egodage said: "Despite export success with record exports, government continues to closely focus on exports and achievement of $20 b exports goal by 2020." "As a result, EDB enhanced its effort towards this goal. Performance Improvement and Key Performance Indicators (KPIs) are key factors for the sustainability of any organisation, including EDB." 

‘France’s economic power to weld with Sri Lanka’s rapid growth’

The Island - 15/07/2014
By Steve A. Morrell

‘Preparations for CHOGM. Colombo was a busy hive of activity. We were wondering if infrastructure for that event could be completed. It was done. No problem. It was a substantial undertaking of deft organization; of things falling into place. Of every little detail being

observed and the main event worked off with clinical attention to detail, said Ambassador of France to Sri Lanka Jean-Paul Monchau recently, talking to the business community and the press at the National Chamber of Commerce auditorium.

The National Chamber convened the conference to disclose benefits for Lanka through interaction with French business interests. Additionally, interest zones for French involvement in commercial activity and broadening the sphere to promote and enhance closer French business ties with Sri Lanka featured in the event. However,the more important aspect was that economic activity witnessed rapid growth here.

Commercial activity prevailing in Sri Lanka was impressive, Monchau said. Within that climate of on-going infrastructure so essential for any commercial undertaking, French businesses would be encouraged to extend their business undertakings for joint projects.

He said, currently tea and garments were their main business dealings. Tea amounts to barely 4 % imports to France. The press suggested that rather than the French people drink wine, they should drink more tea and improve trade relations with Sri Lanka. ( Ceylon Tea was synonymous with a quality product from Sri Lanka). The room erupted in laughter.

The press also questioned Ambassador Monchau on travel restrictions enforced by the French government which stifled business possibilities for Sri Lankan businesses. He said there were some restrictions in place but such areas of concern could always be ironed out.

He said population in France would grow and by 2050,France would be the most populated country in Europe.

Currently France is the 5th most powerful economic power in the world. This would improve. For instance, America grew because of its contributory human resources factor and they placed high importance on that resource. Conversely, the German economy would slow down because that country is faced with dwindling population figures.

France now has 65 million people and there was every possibility that the French population would grow.

The student population too was growing. Language was no problem because there were about 700 English colleges and institutions that had their instructions in English. Students were taught in that language as well.

French exposure to the world was progressively expanding in commerce and trade.

France was looking for business partners in rubber based products, gems and jewellery, ceramics, spices, coconut fibre and similar areas of exports.

Chairman Export Development Board ( EDB) and Director General EDB clarified areas for French interaction. Also Director, BOI, Dilip S. Samarasinghe commenting said the BOI encouraged partnerships and added that further clarification could be gleaned from their web sites. He said they were also available online for further information.

Ambassador Monchau said infrastructure growth in Sri Lanka and allied commercial advancement were significant. Such advances could be plus factors that would promote closer business activity for mutual benefit.

Influx of tourists to Sri Lanka from France, he said, was also increasing. Last year some 65,000 tourists visited Sri Lanka.

At the press conference, the head table included, Deputy President, National Chamber of Commerce Sujeewa Samarasekera, Deputy President NC, Tilak Godamaana, Jean- Paul Monchau, President NC, Sunil G. Wijesinghe, Economist, French Embassy, Jean-Louis Poli, Sec General, NC, Bandula Dissanayake.

Boat Show 2014 to attract major buyers to Dickowita

Daily News - 16-07-2014
By Indunil Hewage

Fisheries and Aquatic Resources Minister Rajitha Senaratne, Boat Building Technology Improvement Institute Lanka Chairman Neil Fernando. and officials at the official launch of Boat Show 2014. Picture by Sumanachandra Ariyawansa

South Asia’s premier boat show and fisheries exhibition, ‘Boat Show 2014’ organized by Boat Building Technology Improvement Institute (BTI), Sri Lanka Export Development Board and Lanka Exhibition and Conference Services will take centre stage from October10 to12 at the Dickowita Fishery Harbour.

The theme of the event is ‘Promotion of Leisure Boating in Sri Lanka’.

The main objective of the event is to attract buyers from all corners of the globe, while positioning Sri Lanka as the hub for the industry in South Asia and to develop a forum between buyers and sellers to facilitate industry growth. The main feature of this year’s event will be the meeting of the International Marina Group of the ICOMIA, concentrating on the promotion of marina development and the development of leisure boating tourism.

The event will see the participation of over 30 delegates and boating and marina business specialists who will share knowledge and expertise.

Boat Building Technology Improvement Institute Lanka Chairman Neil Fernando said the exhibition has been designed to provide an even larger and more diverse show for enthusiasts and industry professionals from India, Pakistan, Maldives, Bangladesh, Singapore, South Korea,China,Germany,Netherlands,UK and USA.

“The event is a platform for local builders to display their capabilities and a gateway to attract foreign investments and technology. The exposure of this event will continue to add value to individual builders, industry and nation as a whole,”he said.

Specific sections on exhibition will include segments for boat builders, life rafts, fishing boats and equipment,water sports equipment and accessories, outboard engine parts and services and boat interiors.

The total exhibition will cover over 44 wide facets of the industry in terms of both industrial and recreational fishery as well as boating and leisure.

Herath said they have taken another step forward by combing the fisheries industry with this event.

It is the fisheries industry that has been the driving force behind the local boat building industry. Our boats are more popular in overseas markets and more and more people are visiting Sri Lanka to purchase fishing vessels. Therefore we believe that combining the segments of the industry with the boat show will further add value to the event.

In order to achieve new heights, the industry requires to have infrastructure to cater to new requirements. Development of such infrastructure was not possible over the years, Since the end of war, this has now become a possibility.

The development of marinas in selected areas of the country will act as catalyst to drive new investment and create new opportunities in the sector.

It will open up possibilities in the leisure boating markets and also create much needed infrastructure for marine tourism sector. It will also open up opportunities in yacht charter sector which will further boost Sri Lanka as a tourism hub.”

“Sri Lanka is a tourism hub. Activities such as diving, whale watching , sport fishing and sailing will add value to Sri Lanka’s nation as well as the livelihoods of local people in those areas by creating more job opportunities.

“We thank the Fisheries Minister for removing duties on the import of outboard engines and inboard marine engines, the removal of the value added tax on components for outboard engines which has greatly benefitted the fisheries industry. I also thank the government for imposing a duty on imports of boats to protect the local boating industry,” Herath said.

Cinnamon could fight Parkinson’s

Sunday Times - 13/07/2014

Cinnamon could be a secret weapon in the battle against Parkinson’s disease. Scientists have found that the spice is the source of a chemical that can protect the brain.

Our liver converts cinnamon into sodium benzoate, an approved drug used in the treatment for neural disorders.

In a study of mice at Rush University Medical Centre in Chicago, a team of researchers found that the chemical then enters the brain, stops the loss of proteins that help protect cells, protects neurons and improves motor functions.

Lead researcher Professor Kalipada Pahan told the Journal of Neuroimmune Pharmacology: ‘Cinnamon has been used widely as a spice throughout the world for centuries.

‘This could potentially be one of the safest approaches to halt disease progression in Parkinson’s patients.’

Professor Pahan said tests had shown that Ceylon cinnamon is better at halting Parkinson’s as it is more pure.

He said the next step is testing cinnamon on patients with the disease.

The study found that after being eaten, ground cinnamon is converted into the chemical sodium benzoate, which then enters the brain, stops the loss of Parkin and DJ-1, protects neurons, normalises neurotransmitter levels, and improves motor functions in mice with Parkinson’s disease.

Professor Pahan said: ‘Understanding how the disease works is important to developing effective drugs that protect the brain and stop the progression of Parkinson’s.’

Parkinson’s disease is a slowly progressive disease that affects a small area of cells within the mid-brain known as the substantia nigra.
Gradual degeneration of these cells causes a reduction in a vital chemical neurotransmitter, dopamine. The decrease in dopamine results in one or more of the classic signs of Parkinson’s disease that includes: resting tremor on one side of the body; slowness of movement; stiffness of limbs; and gait or balance problems.

The cause of the disease is unknown, but both environmental and genetic causes have been speculated by experts.
While one in six patients are diagnosed before age 50, it is generally considered a disease that targets older adults, affecting one of every 100 persons over the age of 60.

Rapid growth in IT/BPM revenue

nation.lk - 13/07/2014

SLASSCOM says untapped potential lies outside Fortune 500 firms Sri Lanka has witnessed a brisk growth in export revenue in the field of Information Technology and Business Process Management (IT/BPM) with revenue for 2013 estimated to have increased to US$ 720 million from US$ 605 million in 2012 and projected to rise to US $850 million by end this year. According to a recent industry report by the Sri Lanka Association of Software and Service Companies (SLASSCOM), the primary IT/BPO business association in Sri Lanka, the industry has shown an impressive revenue growth trend of about 238% since year 2007 whilst total employment grew from 33,700 in 2007 to an estimated 75,100 employees in 2013, and the number of companies in the industry grew from 170 in 2007 to over 220 in 2013.

“According to the ICT export survey 2010, large companies contributed to over 70% of the export earnings whilst medium and small scale companies contributed the balance. In the BPM sector, over 90% of the contribution was by the larger players,” the Sri Lankan IT/BPM Industry 2014 Review, a SLASSCOM publication, prepared by PricewaterhouseCoopers in Sri Lanka stated.

The report noted that out of the total revenue of US $720 million achieved in 2013, IT sector claimed 77.5% of the total and BPM accounted for 22.5% with the top three markets being Europe (UK and Ireland), US and South Asia.

“Moreover, the Asia-Pacific region has shown faster growth than mature markets whilst the industry makes significant market presence in Australia/New Zealand, Asia Mature Markets and the Middle East,” the report disclosed.

Meanwhile, the report noted that outside of the Fortune 500 companies, a massive opportunity lies in the huge untapped markets of SMEs, public sector and family run entities which will require a different and more innovative service model. The industry body said that as the traditional outsourcing model for BPM continues to evolve towards more value added services, cost arbitrage has become secondary to value creation and industry knowledge in the decision, making process of who and where to partner.

“With cloud solutions becoming increasingly more stable and cheaper, opportunity exists to leap frog into next generation services such as demand based and online big data services,” the report highlighted.
Sri Lanka’s IT/BPM industry has set its vision to achieve USD 5 billion in exports by 2022 while generating 200,000 jobs and creating 1,000 start-ups in this process. The country’s overall strategic vision is backed by its approach to differentiation and target markets with planned initiatives for skills development and talent management. The industry adopts a six pronged approach to drive strategy to reach the desired target by 2022.

UAE lifts ban on Sri Lanka's export of chicken, eggs

Daily News - 11/07/2014

The UAE government announced the lifting of the ban on Sri Lanka's export of chicken and eggs to the UAE market with immediate effect. UAE had previously imposed a blanket ban on Asian countries including Sri Lanka, covering the export of chicken meat and eggs due to Notifiable Avian Influenza (NAI).

Sri Lanka made a presentation to the Animal and Agricultural Affairs of the UAE Water and Environment Ministry to lift the ban as Sri Lanka is now free of Avian Influenza.

Industry and Commerce Ministry Commerce Department officials took up the matter through the Sri Lanka Consulate General in Dubai and submitted the documents with the support of the Department of Animal Production and Health, Peradeniya and the Industry stakeholders to UAE authorities to prove that Sri Lanka is now free of Avian Influenza.

The Sri Lanka Consulate in Dubai made representations to the UAE Water and Environment Ministry in Dubai. Consul General of Sri Lanka in Dubai Abdul Raheem along with industry stakeholders (Bairaha Farms PLC.) met Water and Environment Ministry Animal and Agricultural Affairs Under Secretary engineer Safi Mohammed Al Shara last year.

All documentation to prove that Sri Lanka is now free of Avian Influenza was submitted through the UAE Foreign Ministry by the Sri Lanka Mission in Dubai.

Raheem said since the blanket ban on Asian countries was imposed by UAE it took some time for the UAE authorities to examine the Sri Lankan situation.

"I am pleased that the UAE has now informed that they are lifting ban on Sri Lankas export of chicken meat and eggs to the UAE market."

He said Sri Lanka was the first country that the UAE government has lifted the ban among other Asian countries.

Raheem said although the ban has been lifted by UAE authorities, Sri Lanka will have to fulfill other requirements such as general requirements for Halal Certification bodies in Sri Lanka, animal slaughtering requirements according to Islamic Law and hygienic regulations for poultry processing abattoirs and their personnel prior to exporting Sri Lanka products to the UAE market.

Accordingly, export of table eggs can be done with immediate effect but the export of chicken meat and processed chicken products has to meet the above requirements before shipping from Sri Lanka.

Raheem said these UAE regulations and formalities will be sent to the Sri Lankan authorities.

He said the export ban was discussed with stakeholders in Sri Lanka and the industry stakeholders have come forward to voluntarily facilitate compliance with the new regulations, as the poultry industry has now become a fast developing sector, including rural areas in Sri Lanka.

Raheem said if Sri Lankan chicken meat products can gain market access in the UAE, there is a strong possibility that these products will be eventually penetrate other GCC markets, as well.

He appreciated the role of officials of the UAE Foreign Ministry and Water and Environment Ministry for the cooperation extended to Sri Lanka in lifting the export ban.

Colombo hosts historic Lanka-Belarus trade talks

Daily FT - 11/07/2014

The first-ever Sri Lanka-Belarus official trade talks commenced in Colombo yesterday amidst avowed assertions from both sides towards forging sustainable trade links while making inroads to the huge ‘New Asian’ and upcoming Eurasian Union markets. The first Colombo talks have now paved the way for a prospective future visit of the President of Belarus to Sri Lanka.
“I am pleased to note that Belarus is Sri Lanka’s first gateway to the promising EEU new single market. Our Free Trade Agreements with Pakistan and India have opened gateways to a South Asian market of 1.2 billion. Equally important is Sri Lanka’s forthcoming FTA with China. Therefore, we invite you to partner with Sri Lanka and take advantage of the new Asian opportunity,” said Minister of Industry and Commerce Rishad Bathiudeen on 9 July in Colombo.

Bathiudeen was addressing the opening session of the first Sri Lanka-Belarus Joint Commission on Trade and Economic Cooperation that commenced at Taj Hotel, Colombo on 9 July. The two-day session will conclude on 10 July, and will see the participation of Republic of Belarus Deputy Minister of Foreign Affairs Valentin B. Rybakov sitting in sessions throughout.
For this historic trade meet, Deputy Minister Rybakov arrived in Sri Lanka on 8 July leading a 20-member plus Belarus delegation.  For technical sessions, Sri Lanka’s side is led by Ministry of Industry and Commerce Secretary Anura Siriwardena while Belarus’ team is led by Deputy Minister Rybakov.

Representing Sri Lanka at the opening session of 9 July were Deputy Minister of Industry and Commerce Lakshman Wasantha Perera, Ministry of Industry and Commerce Secretary Anura Siriwardena, Department of Commerce Director General R.D.S. Kumararatne, EDB Chairman/CEO Bandula Egodage, top officials from EDB and Department of Commerce, 28 other Lankan representatives from Ministries of External Affairs, Plantation, Fisheries, Agriculture, Coconut Development, Economic Development (including BoI and Tourist Board) and the Tea Board. Also present were Lankan private sector reps including reps from business chambers.

Along with visiting Deputy Minister Rybakov, also in the Belarus delegation were Delhi-based Belarus Ambassador for Sri Lanka Vitaly Prima, Maya Rusetkaya (Belarus Ministry of Foreign Affairs) and reps from Minsk Tractor Works, RUE Belmedpreparaty, Promagroleasing , Minsk Automobile Plant, Caravan, Minsk Department of the Belarusian Chamber of Commerce and Industry, Belarusian National Technical University and Vitebsk State Medical University.
“Sri Lanka and Belarus have been enjoying warm and cordial relations over the years based on mutual respect and shared values and I have no doubts that today’s event would bring the ongoing cooperation efforts to a new level,” said Bathiudeen, addressing the session.
“The visit of President Mahinda Rajapaksa to Belarus in August 2013 is a clear sign of Sri Lanka’s desire to build upon the already existing relations so that closer ties are forged. I am given to understand that Belarus is a member of the Eurasian Economic Union (EEU) which is scheduled to come into effect on 1 January 2015. From January 2015, it is expected that EEU will create a single economic market of 171 million people. As Your Excellency is aware, Sri Lanka is a middle income emerging market economy. The Government’s objective is to make Sri Lanka a global hub. Out of the total of 231 exports destinations of Sri Lanka in 2013, Belarus ranked as the 77th export destination and it is interesting to note that it has progressed from its lower rank of 81 in 2011. Less than 1%, that is 0.05%, of our total exports are taken by Belarus. This shows that Belarus is still a virgin market for us with potentials.
“As for our bilateral trade, the total trade between both countries stood at $ 14.24 million in 2013. In 2012, Sri Lanka was at the 69th rank among the countries which are exporting to Belarus. These facts show that there is huge unrealised trade potentials between both countries that we jointly need to make use of. Sri Lanka offers more than 3,520 export products for your importers and today we invite you to select from our expanding basket of products.
To this end, the Agreements on Avoidance of Double Taxation and Prevention of Fiscal Evasions between Belarus and Sri Lanka signed by President Mahinda Rajapaksa and President of Belarus Alexander Lukashenko in August 2013 can greatly help in improving bilateral trade. We are also invite investors from Belarus to partner with Sri Lanka and invest in more than 50 readymade investment projects offered by our Government.
“In this background, investing in Sri Lanka to re-export is a promising option for investors from Belarus. Our Free Trade Agreements with Pakistan and India have opened gateways to a South Asian market of over 1.2 billion people. Equally important is Sri Lanka’s forthcoming FTA with China. Therefore we invite you to partner with Sri Lanka and take advantage of the ‘new Asian opportunity’.”
Addressing the opening session, Republic of Belarus Deputy Minister of Foreign Affairs Valentin B. Rybakov said: “We always attach great significance to JEC sessions that we have with foreign countries. You are absolutely correct in saying bilateral trade levels between Belarus and Sri Lanka are practically negligible. As a result, the (unrealised) trade potential is huge.  Belarus views Sri Lanka as an emerging trade partner and a very important partner in the South Asian region. We are definitely interested in establishing long-term cooperation with Sri Lanka in various areas. For us it is vital to diversify our trade and economic relations with the world.
“This part of the world – South Asia – is a very, very important region as it is becoming the global economic driver – especially when you say about a common market of billions of people and this sounds incredible to Belarus, which is a small country. Belarus is also part of the new Eurasian Economic Union (EEU). As you are aware we are supplying you with potash fertiliser and we are keen to expand our support in this. We are also interested in supporting other agricultural areas/sectors since Belarus is one of the countries that ensure total food security to its people. Therefore we can help you in agriculture too.
“We can also definitely help in industrial matters – we are happy that we already started practical work in setting up a tractor assembly facility in Sri Lanka. We will also continue our cooperation in education. As you know there are sizeable numbers of Lankan students in Belarus. We like to have more Lanka students. This session of the JE commission is a result of President Rajapaksa’s visit to Belarus in 2013. We will try to arrange a return visit to Sri Lanka by our Head of State. The agreements that can be reached by this two-day session will help us in formulating this return visit by our Head of State.”

First ever Lanka-Belarus bilateral trade meeting begins today

news.lk - 09/07/2014

First ever bilateral trade meet between Sri Lanka and a key member of upcoming Eurasian Economic Union (EEU) starts tomorrow 09 July in Colombo. “Our newest trade effort with Balarus strengthens the historic relations and more importantly, gives us direct access to the world’s newest single economic market” said  Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) onTuesday (08).

Minister Bathiudeen was in discussions with his officials on the first ever Sri Lanka-Belarus Joint Commission on Trade and Economic Cooperation to be held in Colombo on 9-10 July with the participation of  Valentin B. Rybakov, Deputy Minister of Foreign Affairs, Belarus.  Deputy Minister Rybakov arrived in Sri Lanka Tuesday (08) leading a 20 member strong official delegation of the Government of Belarus, for this historic trade meeting.

Among sectors represented in today's official delegation are agriculture, agricultural machinery and fisheries. Some representatives from Belrussian private sector too are also expected.

Belarus is a member of the Eurasian Economic Union (EEU) planned to go into effect on 1 January 2015. The three members of EEU are Belarus, Kazakhstan, and Russia. From 01 January ’15, EEU will create a single economic market of 171 Mn people giving a new boost for Sri Lanka’s export diversification efforts.  According to the Department of Commerce of Sri Lanka, Sri Lanka’s trade with Belarus has recorded an erratic pattern over the years. The total trade between both countries stood at $ 14.24 Mn in 2013. The balance of trade has been in favour of Belarus. Sri Lanka occupies the 69th rank among the countries which are exporting to Belarus in 2012. Sri Lanka’s exports to Belarus include tea with a share of about 94%,followed by small quantities of new pneumatic tires, of rubber, retreated or used pneumatic tires of rubber.

Several Joint Statements were signed as a result of the successful meetings and negotiations between President Mahinda Rajapaksa and Belarus President Alexander Lukashenko during   President Mahinda Rajapaksa’s visit to Belarus in August. In addition, a number of  Agreements / MoUs covering trade & economic co-operation, Avoidance of Double Taxation and Prevention of Fiscal Evasions, Visa Exemption for Holders of Diplomatic and Service Passports, Mutual Legal Assistance in Criminal Matters, Military Technical Cooperation, Cooperation between the Ministries of Justice, Cooperation in the Field of Tourism, Civil Aviation etc  too were concluded during 25-27 August’s visit.

Sri Lanka biz forum in Israel a success

Daily FT - 07/07/2014

A successful business forum from Sri Lanka consisting of 40 business leaders led by Deputy Minister of External Affairs, Sri Lanka Neomal Perera, who himself is a business leader completed a successful forum interacting with business leaders, L.R. Group, Sri Lanka-Asia Chamber of Commerce and the community on various aspects including tourism, hi-tech, water, energy, medical, apparel, employment, agriculture, greenhouse cultivation, dairy, fish, flowers, diamonds, gems, jewellery, rubber, education and other topics suggested by prospective delegates.

BOI Chairman Dr. Lakshman Jayaweera, Central Bank of Sri Lanka Deputy Governor Dr. Nandalal Weerasinghe and a number of business leaders from the Chambers and various sectors addressed the seminars/workshops and took part at the deliberations. The entire delegation was taken on religious, cultural and technical visits.
The delegates visited Bethlehem, Nazarath and Jerusalem. In addition to a trade delegation to Sri Lanka consisting of 21 members, a delegation during CHOGM led by the Ambassador there will be a third delegation in October to Sri Lanka consisting of high end business leaders, industrialists and hi-tech companies to follow up the work on the areas specified above.
There was a reception for delegates at the official residence of the Ambassador Sarath Wijesinghe who planned, originated and masterminded the event.
The event was organised by the Sri Lanka Embassy with co-partners, the Ministry of External Affairs in Sri Lanka, Export Development Board in Sri Lanka, L.R. Group in Israel and the Israel – Asia Chamber of Commerce, Israel.
Minister Neomal Perera met with his Israeli counterpart Tzahi Hanegbi the Deputy Minister of Foreign Affairs, in Israel where bi-Iateral and business matters were discussed in detail.
The forum was a tremendous success with the Sri Lankan delegates meeting and starting business immediately with the business community. LR Group and Sri Lanka Israel Chambers sponsored the inauguration, seminars, workshops and one to one meetings during the event.
The trade mission from Israel to Sri Lanka will be in October.

Sri Lanka takes first step aiming $20B Export target by 2020

news.lk - 07/07/2014

Sri Lanka in a bid to achieve its $ 20 B export target by 2020, handed over on July 01, the task of producing an initial way forward blueprint by August to an international consultancy firm.

“Today we are launching the first step of EDB’s Strategic Plan creation which aims to achieve $ 20 Bn by 2020. Hilmy’s enormous experience and expertise will definitely enhance the total process of EDB in a positive way” said Bandula Egodage (Chairman/CEO, EDB) addressing the session on July 01..  He further said, " We also thank VEGA USAID for the contribution towards this initiative. We all know that our national target is $ 20 Bn by 2020 but there is a big mismatch-our current export strategic plan ends in 2015 and there is a strategy gap from 2015-2020; We are launching today’s initiative to bridge this gap and draw the plan till 2020 to complete this in a professional and a focused way.”

Also present on the occasion were the selected consultancy team of Bahrain based MTI Consulting led by its CEO Hilmy Cader, Sujatha Weerakoone (DG-EDB), Dr Yousuf Marikkar (ED-EDB), and various Directors and top personnel of export product sectors as well many heads of EDB Departments. EDB, realising the need for the service of a Consultant who is highly knowledgeable and well conversant with the export development process to formulate its Corporate Plan/Strategic Plan, sought the support of USAID VEGA Facilitating Economic Growth in Sri Lanka Project (VEGA FEG SL). USAID agreed to provide technical and financial assistance to formulate the Corporate Plan/Strategic Plan 2015-2020 for the EDB.

Accordingly, with the concurrence of the Minister of Industry & Commerce Rishad Bathiudeen and the EDB, the team headed by Hilmy Cader from Bahrain based MTI Consulting was selected by VEGA FEG Project for the consultancy.  The consultancy fee is to be borne by the VEGA-FEG SL Project of USAID.

According to MTI CEO Cader, the international management consultancy MTI has more than 510 client engagements with operations across Asia & the Middle East and networked across  America, Africa and Europe. MTI CEO Cader aims to complete the EDB process mapping and come up with a blueprint by August 2014 provided the operating conditions and environments stay unchanged.

According to the EDB, Sri Lanka’s 2013 annual exports stood at $ 11.1 Bn, rising by 6.7% from 2012’s $10.4 Bn.

Hashemite Kingdom renews trade, wants to re-activate JC right away

Asian Tribune - 02/07/2014

Ambassador Hassan Al Jawarneh (Delhi based Ambassador of Hashemite Kingdom of Jordan to Sri Lanka-left) meets Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) on 01 July in Colombo.

The Hashemite Kingdom wants to renew its trade with Sri Lanka-with no less than a Joint Commission meet at its end. “Let us now get really practical. It is time to activate 2007 Agreement and start vigorous bilateral trade. We are open to all suggestions from Sri Lanka” said a keen Ambassador Hassan Al Jawarneh (Delhi based Ambassador of Hashemite Kingdom of Jordan to Sri Lanka) on 01 July in Colombo.

Ambassador Jawarneh was addressing Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) on 01 July during his courtesy call on Minister Bathiudeen at EDB. According to the Department of Commerce, Sri Lanka’s trade with Jordan has considerably increased over the years. The total trade which stood at $ 26.19 Mn in 2002, has increased to $ 44.50 Mn in 2013. The balance of trade has been in favor of Sri Lanka. Sri Lanka’s major export item to Jordan is tea, contributing to more than 81% of Sri Lanka’s total exports to Jordan. Sri Lanka is the largest tea supplier to Jordan. Jordan is also fourth largest buyer of tea bags from Sri Lanka. Other Lankan export items being coconut, cashew nuts, sewing thread and pepper. Three Sri Lankan firms-MAS, DIP Apparels, and EAM Maliban Textiles Jordan - are already successfully operating their plants in Jordan. On the other hand, in 2013, Jordan itself has invested US $ 0.287 Mn in Sri Lanka. Sri Lanka is also a key human resource supplier to Jordan-more than 40000 Lankan expatriate workers are currently employed in the Kingdom.

“We signed the new bilateral Trade and Economic Cooperation Agreement in 2007 replacing previous agreement of 1965. Let us now get really practical. It is time to re-activate 2007 Agreement and start vigorous bilateral trade. The last JC meeting was held in Colombo in 2008. We are open to all suggestions from Sri Lanka including trade expansion, B2B delegations, and even trade fairs” said Jawarneh and added: “The last Joint Commission meeting was held in Colombo and it’s now time for you to come to the Kingdom of Jordan for the next Joint Commission meeting for which we invite you, preferably during this year. We can start the exchange of regular business delegations along with the JC re-activation. We are also well known as a supplier of fertiliser and related resources such as phosphates. We invite Sri Lankan agro importers to avail of our abundant supplies.”

“We have multiple agreements with the Kingdom of Jordan. We too feel that it is time to renew trade vigorously-in fact our trade with Jordan is lesser in comparison to our trade with other Middle Eastern countries-the current bilateral trade volumes at $44 Mn shows the existence of huge unrealised potentials between the two countries” said Minister Bathiudeen responding to Ambassador Jawarneh,andadded: “Low cost fertiliser supplies from Jordan can help our agro sector as well. I also view that it is time for the follow up of JC since 2008 been a long time. We look forward to wider exports from Sri Lanka beyond tea, which is our main supply to Jordan. I am pleased to note that our firms operating in Jordan have shown successful manufacturing outcomes. We look forward to arrange a strong trade delegation to Jordan which could also cover the Joint Commission sessions.”

On 01 July, both Ambassador Jawarneh and Minister Bathiudeen also delved into other aspects of cooperation between both countries.

INTRODUCING AND IMPLEMENTING FAIR TRADE TO THE CRAFT SECTOR

The EDB recently held a workshop in Batticaloa to introduce the Fair Trade Concept to the Craft sector in the Eastern Province. The workshop was attended by around 40 participants representing giftware, lifestyle and handloom products.  The workshop was conducted by Mr. Paul Myers, Expert on Fair Trade from U.S.A and there was a lot of interest shown by the companies /individuals present.

 

This workshop was held as part of a programme implemented by the EDB to introduce and implement Fair trade to the craft sector in Sri Lanka with the objective of utilizing Fair Trade (FT) as a marketing Concept/tool to promote Sri Lankan Craft products globally.


Fair Trade (FT) has been identified as one of the tools for the sustainable economic development of the world and defined as an alternative approach for conventional international trade.  FT labeling is seen as a tool to enable sustainable development and empowerment of disadvantaged producers and workers in developing countries.

‘Lanka handlooms special’-Int’l Design Expert

Asian Tribune - 01/07/2014

Jennifer Shellard (Visiting British design expert-left), Bandula Egodage (Chairman/CEO-EDB, at centre) and Sujatha Weerakoone (DG-EDB-right) at “Design Development for Sri Lanka’s Handlooms” session by EDB on 30 June in Colombo.

Just as the US demand for Lankan handlooms surged, an international design expert called on 30 June the country to further strengthen its design and promotion capacities-and Sri Lanka’s handloom designs continue to have a special identity.

“Sri Lanka has been known for its handloom textiles. Sri Lanka, rather than moving into fast fashion handloom cycles, can elevate its special handlooms brand by building competence and international promotion efforts” said Jennifer Shellard (Visiting Lecturer, Woven Textile Department of London’s University of Creative Arts) on 30 June in Colombo.

Jennifer Shellard (Visiting British design expert)addresses the “Design Development for Sri Lanka’s Handlooms” session by EDB on 30 June in Colombo.

The highly experienced Design Expert Shellard was addressing more than 50 Lankan handloom designers and experts at the session titled “Design Development for Sri Lanka’s Handlooms” organised by EDB on 30 June in Colombo. Design expert Shellard has more than 16 years’ experience creating high quality products for the UK craft markets mainly in spun silk. As a senior lecturer in London College of Fashion, she ran the Surface Textile pathway and subsequently set up and ran the BA Hons Fashion Jewellery Course. She also assisted the Moratuwa University in 2003-04 to introduce weave designs to its BA Fashion course. Her expertise extends to using research for designs and crafts, as well as challenging definitions and perceptions of hand-made textiles particularly with regard to their presentation and context. According to the EDB, 2013’s total apparel exports stood at $ 4.26 Bn. In 2013, Sri Lanka exported $115.55 Mn of woven fabrics-an increase of 10% from 2012’s $104 Mn. Top five buyers of Sri Lankan handlooms in 2013 were Bangladesh, India, Turkey, Hong Kong, and UAE. Appetite for Lankan handlooms in US markets has also surged in 2013-US which was ranked as the 15 buyer of Lankan handlooms in 2012, jumped to seventh ranking importer in 2013 with $ 1.64 Mn of purchases.

“Sri Lanka has been known for its handloom textiles. It is a high precision sector and its precious in Sri Lanka branding. In fact, it is a jewel for Sri Lanka” said Design Expert Shellard and added: “Apparel sector is generally responsive to fast fashion cycles. But handlooms are not the same. Sri Lanka, rather than moving into fast fashion handloom cycles, can elevate its special handlooms brand by building weaver competence and international promotion efforts. I am not making a recommendation here but being already hands on involved in Sri Lankan weaving and gaining an understanding of Lankan designs, I identified these factors. Unlike powerlooms, handlooms help in maintaining the country’s identity and helps tourism. My personal view is that if Sri Lanka becomes a mass producer of handlooms then it may not retain the same premium cache it now has. This is true even internationally. The reputed international handloom designers such as Junichi Arai and Reiko Sudo (Nuno Fabrics, Japan), Ann Richards (UK), European designers such as Laura Thomas, Drahomira Hampl, Margo Selby, Makeba Lewis, Katrin Hielle, Ptolemy Mann and Wallace Sewell & Emma Wallace used modern methods but preserved hand-woven quality. Research is important and do your research to make your products relevant, and differentiate locally and internationally-otherwise you will end up with unsold stocks. Also, if you are interested, I have news-that is 2014-15 autumn winter cycle color trend in international fashion for Lankan exporters-the two important colors are rust and dust.”

Bandula Egodage (Chairman/CEO, EDB), addressing the event, said: “43% of Lanka’s total exports are apparel. I believe that the secret of our apparel success could be that we don’t sell apparel but sell designs. That’s the value we deliver. Sri Lanka is a skilful place. We maintain our traditions and resources. Value addition is an essential factor and repeating of the same designs will not help us in the long run. Today’s EDB initiative session titled “Design Development for Sri Lanka’s Handlooms” is in line with this.”

Anuradha Yahampath (Design Director of Kandygs Pvt Ltd), a participant of the EDB session, said: “Input and training of Jeniifer Shellard is important to our industry as she is a highly experienced global designer with an understanding of Lankan design. For me, Shellard’s information on research, design, and color themes are the most important lessons.” Director Yahampath’s Kandygs has a large factory with 200 handlooms, 30 power looms, 50 sewing machines and a fully equipped dye house. Kandygs exports to such destinations as Japan, Germany, Greece, United Kingdom, Netherlands, Norway, Sweden, Mexico and Maldives. Kandygs has been representing in many international trade fairs including Heimtextil Frankfurt, Ambiante Frankfurt, and fairs in Sweden, Switzerland and Tokyo.