Sri Lanka's Apex Organisation for Export Promotion
Sri Lanka’s ornamental fish sector is basking in the glow of international spotlight having bagged many top awards for its diversity-and O-Fish sector is one of highest return on investment sectors, as revealed on 03 June in Colombo.
Sri Lanka's gem and jewellery export revenue will surge this year following the enormous exposure the country received at the International Coloured Gemstone Association (ICA) Congress held recently in Sri Lanka, Chairman, Facets Sri Lanka, Juzar Adamaly said on the sidelines of the 16th Congress at the Cinnamon Grand recently.
He said a large number of buyers and dealers across the world at the Congress were highly impressed with the country and the range of exquisite products it offers to the global market. It is premature to put a figure but certainly export revenue will spike within a month or two.
In the back drop of the 1.3 million dollar deal wrapped by Sri Lanka Tourism in the launch month of Expo 2015, Sri Lanka Export Development Board took the high ground in month two to announce a global endorsement to Sri Lanka backed by two power bases in global trade which gives perspective to Expo 2015 for Sri Lanka's 75 billion dollar economy growing at a seven percent GDP growth said commissioner General Expo- Sri Lanka Rohantha Athukorala.
I am very much impressed by the democratic process of Sri Lanka displayed after January 8. It's a unique event and a very good start and passing of the 19th Amendment, shows the spirit of reform is very much alive in Sri Lanka. We, the Swiss, would like to support this Lankan reform spirit," said Swiss Ambassador to Sri Lanka Heinz Walker-Nederkoorn on May 13, in Colombo.
Swiss Ambassador Nederkoorn was addressing the first ever Swiss - Sri Lanka Round table Business Discussion held at the EDB on May 13.
Earnings from exports increased by 5.8 per cent, year-on-year, to US dollars 891 million in February 2015, led by industrial products, particularly textiles and garments.
Earnings from industrial exports, which represent about 77 per cent of total exports, improved mainly due to increase in exports of textiles and garments followed by petroleum products, and gems, diamonds and jewellery.
The ninth Indian Trade Fair was opened on Thursday (07) at the Sri Lanka Exhibition and Convention Centre, under the patronage of the Acting High Commissioner for India in Sri Lanka Arindam Bagchi and Deputy Minister of Industry and Commerce Champika Premadasa.
Sri Lanka’s metal manufacturing and exports have clinched a sudden breakthrough, thanks to a global foundry giant whose historic roots extend back to 1930s Birmingham. The adoption of international best practices can increase revenues of overall Lankan foundry sector by a substantial 30%.
“Despite many constraints, our light engineering sector has been bringing increased export revenues to Sri Lanka. A study has been done and it pointed to tech and skill gaps prevalent in the industry – and fixing them are crucial,” said EDB Director General Sujatha Weerakoone on 24 April at the Industrial Park, Ekala.
For the first time in the recent history of Sri Lanka top four Chairman of the public sector driving brand Sri Lanka in the global arena met in unison to power the country at World Expo 2015- which is termed globally as the most visited and watched event next to the Olympics.
Sri Lanka government will participate in the universal exposition "World Expo 2015". "Expo Milano 2015" World Trade Fair that will be held from 1st May to 31 October 2015, at World Avenue and Biodiversity Park in Milan, Italy with the objective of promoting Trade and Tourism.
The participation consist of Sri Lanka Export Development Board, Sri Lanka Tea Board, National Gem & Jewellery Authority, National Crafts Council, Department of Commerce together with Sri Lanka Tourism under the auspicious of Ministry of Industry and Commerce.
Desiccated coconut (D/C), a basic by-product of coconut with limited technological input has been a foreign exchange earner for the country for a long period of time.
There had been the usual ups and downs or changes in demand patterns for D/C over the years but the international market situation is certainly looking up currently for D/C exports. In addition prices obtainable for the product too are promising which augers well for foreign exchange earnings from this product.
In a major renewal of its economic cooperation with Sri Lanka, World’s ICT innovation leader has announced that it is ready to form a joint Business Council with Sri Lanka for the first time, as revealed on dEC.04-and Lankan ICT start-ups have received a breakthrough invitation to showcase themselves at one of world’s top-tier start-up events in 2015.
“It is time that we establish a Finland-Sri Lanka Business Council for B2B activities. Such a mechanism will kick-start the process. We are also looking forward to see SME level Sri Lankan ICT BPM and business start-ups at the 2015 ‘Slush’ event in Helsinki” said an upbeat Matti Anttonen, Finnish Deputy Minister of External Economic Relations & Finnish Under-Secretary of State on dEC.04 in Colombo.
Sri Lanka’s January-October YoY exports have surged by almost 9% while an export product that recently faced volatile EU markets showed a promising turnaround, as revealed yesterday.
“For the month of October 2014 alone our provisional exports were at $ 900 m and this is only merchandise exports without taking into account of service exports such as ICT,” said EDB Chairman/CEO Bandula Egodage, commenting on the provisional top-line export data presented to him by EDB Directors at a progress review session held at the EDB yesterday.
Sri Lanka’s surging IT and BPO exports would hit the critical dollar one billion mark as early as next year, surpassing previous expectations! And London Stock Exchange and HSBC have praised the Lankan IT sector ‘with joy’, as revealed on 05 December in Jaffna. And the pioneering Northern IT Exports forum by EDB & ICTA was packed with enthusiastic regional IT industry.
“We earned $719 Mn from ICT exports, and our projection for 2014 is $820 Mn. At this rate, we expect to hit dollar one billion mark very soon-as early as 2015. We have seen 123% growth in IT sector over the last five years. London Stock Exchange and HSBC also praised the Lankan IT sector with joy” said Saman Maldeni (Director, Export Services of SLEDB) on 05 December in Jaffna.
Lanka Design Festival (SLDF) 2014, which is backed by local industries and the Government, is scheduled to kick off over the next few days.
The main objective of the festival is to promote design driven exports as a major economic sector for the country. For this reason, SLDF is supported by Sri Lanka’s apex institute for driving exports, the Sri Lanka Export Development Board (EDB).
Sri Lanka could bridge the trade imbalance with China to a greater extent and also increase the US$ one billion overall export target in 2016, if the local gem/precious stone exports were encouraged and developed. At present there is a huge trade gap in favor of China, Director Marketing and Export -National Gem and Jewellery Authority, Rohan Perera said.
"We are now looking at increasing gem export to China being the biggest buyer in the recent past. Since, China being a prosperous country in the world the demand for super luxury items like gems has increased considerably," Perera told the Daily News Business.
Sri Lanka’s apex export facilitator EDB’s first IT event in Jaffna has been boosted by an influx of Jaffna based operators and would be ICT entrepreneurs on 4 December and the event also packs in-depth industry presentations from no less than seven top Lankan IT firms.
“Almost 20 SME IT operators in Jaffna region have registered for 5 December’s IT/BPM Export Forum in Jaffna. Another 30 prospective IT entrepreneurs from Jaffna who are looking to set-up, too have joined making it a total of 50 players,” said SLASSCOM Vice Chairman Mano Sekaram on 4 December in Colombo.
dustrial economy billed as the Tetra Tiger due to its high growth, has revealed for the first time that it wants to synergise Lanka's historic FTAs to penetrate South Asia, and it is also readying for new bilateral efforts of high capacity across the board-in Lanka's wheat production, energy and even defence.
"Our aim is to make Sri Lanka our business and investment platform to South Asia. There are many Slovakian manufacturers ready to invest here, produce and export to South Asian markets using your FTAs with India and Pakistan," said Peter Burian, State Secretary of the Ministry of Foreign and European Affairs of the Slovak Republic recently.
Sri Lanka Design Festival’s 2014 fashion edition is taking shape with a preview into Sri Lanka’s brand-led future in fashion. Taking a giant step forward from the country’s longstanding reputation as a sustainable and technologically advanced manufacturing destination, Sri Lanka is about to forge its reputation as a fashion industry with its own brands. Sri Lanka Design Festival is the platform for this major step for Sri Lanka, and its sixth successful fashion edition is scheduled to unfold this week.
Stepping up its trade cooperation with Sri Lanka, Vietnam said that it was working towards establishing a groundbreaking FTA with Sri Lanka.
In view of this, Sri Lanka has promptly appointed its first-ever trade officer to Vietnam, the world’s fifth largest apparel exporter which is ready to partner with Sri Lanka’s own apparel industry.
“There is huge unrealised trade potential between both countries that we need to explore. Trade need not be mostly the exchange of rice and tea between both countries. Therefore, while in Colombo, I will take up the task of promoting an FTA with Sri Lanka,” said Vietnam’s new ambassador to Sri Lanka, Phan Kieu Thu on 27 November in Colombo.
