Sri Lanka's Apex Organisation for Export Promotion
As trade between Sri Lanka and its top global partner EU edged to $ 5 Bn mark, Sri Lanka for the first time revealed its levels of attention to the EU trade dynamics on 07 May. And Europe has commended Sri Lanka's exports value addition efforts as "remarkable."
“Sri Lanka closely monitors the developments in the EU trade policy as it could have significant impact on Sri Lanka’s exports, both directly and indirectly. For example, the recent cross cumulation facility provided for SAARC and ASEAN Regional Groups, would help Sri Lanka to source inputs of ASEAN countries, and be eligible for GSP concessions” said Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka on 07 May.
Sri Lanka’s earnings from exports of textiles and garments grew by 6.6 percent to US$ 396.2 million in February 2014, compared to earnings of $371.6 million recorded in same month last year, according to a press release on ‘External Sector Performance – February 2014’ issued by the Economics Research Department of the Central Bank of Sri Lanka.
The statement reflected two key trends in Sri Lanka’s textile and garment trade—an increase in apparel exports to non-traditional markets and a higher local value addition in the clothing industry.
The only country in the world to be entirely surrounded by another country and also called as Africa’s Switzerland, signaled on 25 April for the first time that it is now ready to initiate multi-faceted bilateral ties with Sri Lanka. “We can begin our bilateral trade with Ceylon Tea exports to Lesotho. Then we can proceed to agriculture cooperation” said an upbeat Bothata Tsikoane, the New Delhi based High Commissioner of Lesotho for Sri Lanka on 25 April in Colombo.
Bothata Tsikoane was addressing Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) on 25 April at EDB in Colombo during his first courtesy call made on Minister Bathiudeen.
The external sector further strengthened in February 2014 with the trade deficit continuing to narrow as a result of an increase in earnings from exports and a decline in expenditure on imports.
Inflows on account of workers' remittances and earnings from tourism recorded an increase during the month contributing to the substantial reduction in the current account deficit. These developments together with continued inflows to the financial account resulted in a surplus in the Balance of Payments (BOP) upto February 2014, the Central Bank said yesterday.
The only country in the world to be surrounded by another country and also described as Africa’s Switzerland, is now to initiate multi-faceted bilateral ties with Sri Lanka.
“We can begin our bilateral trade with Ceylon Tea exports to Lesotho. Then we can proceed to agriculture cooperation” said an upbeat Bothata Tsikoane, the New Delhi based High Commissioner of Lesotho for Sri Lanka.
The Lesotho envoy made these observations while meeting Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka on 25 April at the Export Development Board offices in Colombo during his first courtesy call made on Minister Bathiudeen.
Sri Lanka's exports rose 5.4 percent in February 2014 from a year earlier, with apparel exports up 6.6 percent, while imports fell amid weak credit growth, official data showed.
In the first two months of the year exports were up 13.9 percent to 1,739 million US dollars, the Central Bank said. Agricultural exports rose 15.3 percent to 201.2 million US dollars with tea up 11.7 percent to 115.6 million US dollars.
The Fadna Cinnamon Tea, produced and distributed by Food and Nature Company was recently awarded the Pure Ceylon Cinnamon Quality certificate by Sri Lanka Export Development Board. This certification which is awarded only for highest quality export products is granted on the recommendation of a committee of experts appoined by the SLEDB. Here Minister of Industries and Commerce Rishard Bathiudeen awards the certificate to the Marketing Manager of the Food and Nature Company, Udara Mangala at a ceremony at the SLEDB
Sri Lanka and Bahrain Tuesday inaugurated the Bahrain-Sri Lanka Business Forum at the headquarters of the Bahrain Chamber of Commerce and Industry (BCCI) in Manama.
A large gathering of prominent business leaders from both Sri Lanka and Bahrain participated in the Forum that consisted of business-to-business meetings and a visit to the Bahrain International Investment Park.
Legitimacy is the single all-encompassing characteristic that makes Bahrain business-friendly, Industry and Commerce Minister Dr Hassan Fakhro said yesterday.
Speaking at the opening of the Bahrain-Sri Lanka Business Forum at Beit Al Tijjar, Dr Fakhro said legitimacy meant that Bahrain embraced the rule of law, and authorities strived to be the best at what they do, whether it be in terms of laws and regulations, domestic and international policies, or simply in the way that individuals were respected irrespective of ethnicity and the principles of a truly secular state were upheld.
"It is this legitimacy that has underpinned Bahrain's rise as an important financial centre, and helped in avoiding the contagion felt across the globe during the financial crisis," he said.
In the wake of record exports in 2013, Pure Ceylon Tea has reported yet another achievement, with Basilur Tea Canada, allied to its Lankan firm Basilur Tea, clinching the main award at North America’s top food and beverages trade show this year.
“Basilur’s herbal tea product ‘Fruit Infusions’ received the highest award – the 2014 Top-10 Product Award – at the SIAL Canada expo. This is considered by many food industry specialists as a very rare achievement since Basilur has reached the Top-10 twice within three years,” said Basilur Tea Canada Director Rohan Perera on Thursday.
The PUM Netherlands Senior Experts (formerly known as NMCP) has completed over 400 projects assisting industries and service organizations in Sri Lanka. PUM commenced its activities in Sri Lanka in 1990. We are proud to be serving the local industry for over 24 years providing them with much needed new technology.
The Sri Lanka Export Development Board is making arrangements to organize a Design Development Programme for the Handloom Industry of Sri Lanka, obtaining the service of an International Design Expert
The objective is to enhance the design capabilities of a selected group of handloom manufactures and for exporters to upgrade their design capabilities and develop their products targeting the International Market. The programme is scheduled to be held during June 30 to July 17, 2014 at the SLEDB Auditorium.
Sri Lanka has earned over Rs 1.2 billion last year from exporting ornamental fish and measures will be taken to double this income by 2016, the Fisheries and Aquatic Resources Development Ministry says.
Sri Lanka's ornamental fish production had produced over 46,000 metric tons in 2009 and this amount has increased to nearly 70,000 metric tons last year, placing Sri Lanka in the third place in exporting ornamental fishes, according to the Ministry.
Just a day after unveiling cinnamon logo licenses, Sri Lanka’s exporters heaped praise on the Government and the Export Development Board for the latest national initiative towards their sector on 8 April. “We are proud to have won this Pure Ceylon Cinnamon logo. To the global markets, this symbol shows where true cinnamon originates from. The EDB has really come out with it!” said an upbeat Priyadarshani Halpe, General Manager, G.P. de Silva & Sons International Ltd.
Halpe, one among many exporters who expressed similar sentiments, was speaking about the ‘Inaugural issuance of Pure Ceylon Cinnamon brand licenses to Lankan exporters’ event held at EDB Auditorium, Colombo on 7 April.
As Sri Lanka’s first batch of exporters successfully captured their licences to officially flavour the world with Sri Lanka’s second global brand yesterday, the country recommitted to $ 1 billion in spice and cinnamon exports by 2020.
“Today, nine Sri Lankan cinnamon export firms are empowered by this initiative. Together, these nine firms claim more than 25% of our annual cinnamon export values. We are aiming at $ 1 billion in spice and cinnamon exports by 2020,” said Minister of Industry and Commerce Rishad Bathiudeen yesterday, addressing the ‘Inaugural issuance of Pure Ceylon Cinnamon brand licenses to Lankan exporters event’ at the EDB Auditorium.
In yet another important industry support initiative in the tradition of Export Development Board for Lankan exporters, for the first time, nine Sri Lankan cinnamon export firms qualifying to export cinnamon using ‘Pure Ceylon Cinnamon brand license’ were awarded license certificates by Bathiudeen at the event. The qualifying exporters in the first batch were A Baur & Co Ltd., Casa Canela Ltd., Dtriangle Ltd, Food & Nature Ltd., G.P. De Silva & Sons International Ltd., Intercom Ltd., International Commodity Traders Ltd., Mohksha Ltd. and Rathna Producers Cinnamon Exports Ltd.
German Ambassador Dr. Jurgen Morhard said that bilateral trade with Germany could be expanded. Although trade with Sri Lanka could be pursued to reach higher levels, it is imperative that exports should be of high quality.
Germany, he said was constantly looking for quality with their trade partners and goods and services that form bi-lateral trade segments would have to achieve such production levels.
He was addressing last week’s conference convened by the National Chamber of Commerce of Sri Lanka (NCCSL) to promote bi-lateral trade with Germany.
Chairman and Chief Executive, Export Development Board, Bandula Egodage said Germany was one of Sri Lanka’s main trade partners, but he conceded that the bilateral segment of such trade was currently that Germany was assisting Sri Lanka in training and improving technological support.
‘Kithulaka Waruna’ an exhibition and trade fair got off the ground yesterday at Sudharshi Hall Colombo 7. The exhibition showcases a range of Kithul products from the 18 districts where Kithul is cultivated. The fair is organised by the Ministry of Traditional Industries and Small Enterprise Development, IDB, ITI, NERD, SMS, Forest Department, Export Agriculture Board and PDB. The exhibition will go on till 6 April
As the consumer end of digital convergence in the country continued to develop, Sri Lanka has officially begun assessing the promise of the "next big thing" in digital frontier-and Sri Lanka's first Advanced Electronics Design Centre is now on the cards. "This is the first ever initiative for Sri Lanka's ICT sector on the emerging "Internet of Things". There is no doubt that this advanced and novel concept will be useful for everyone" said Sujatha Weerakoone Director General-EDBrecently. Weerakoone was addressing the first ever IoT session held in Sri Lanka, organized by the Sri Lanka Export Development Board (EDB) .
A Sri Lankan delegation comprising officials from the Government, academia and private sector gained valuable insights in food processing, standards, food safety, product diversification and export potentials during the recently-concluded study visit to Thailand.
The delegation discussed extensively on the lesions that could be learned and possible way forward for the Sri Lankan food processing industry, the role of different stakeholders of the SME in food and beverage sector of Thailand and studied the current status and success factors of Thailand’s fruit and vegetables industry and export market.
The issuing of license for eligible exporters to use the Pure Ceylon cinnamon logo on cinnamon packs will be held at Sri Lanka Export Development Board (SLEDB) auditorium on 07th Monday.
The SLEDB recently requested pure Ceylon cinnamon manufacturing companies in Sri Lanka that wish to use pure Ceylon Cinnamon Lion Logo on cinnamon packs to forward completed applications in respect of each product design to the Sri Lanka Export Development Board.
Applications were called from companies eager to use Pure Ceylon Cinnamon Lion Logo on the cinnamon packs. The companies who are eager to use the pure Ceylon cinnamon lion logo on cinnamon packs will have to obtain prior approval from the Export Development Board.
