Sri Lanka's Apex Organisation for Export Promotion
The North Western Provincial office of the Sri Lanka Export Development Board, successfully conducted the awareness seminar/workshop on fruits & vegetables for the export market on 24th March 2014 in Anuradhapura with the participation of 115 fruits & vegetable farmers in North Central Province. The programme was organized by NWP-EDB with the assistance of Department of Agriculture, National Plant Quarantine Service and Lanka Fruits & Vegetable Producers, Processors & Exporters Association.
The main objective of conducting this seminar was to increase the capacity of Fruits & Vegetable farmers in the North Central Province by way of enhancing Technical/Market awareness and facilitating linkages between farmers and exporters in order to develop consolidated supply base of quality fruits & vegetables for exports from Regions.
The Sri Lanka Export Development Board (SLEDB) in collaboration with the Embassy of Sri Lanka in Beijing organised the Sri Lanka Pavilion at the 2nd China-South Asia Expo in Kunming, China from 6 to 10 June with the participation of 135 Sri Lankan companies, displaying and promoting Sri Lankan product sectors such as gems and jewellery, tea, batik, handicraft, coir products, Ayurvedic products and giftware.
Minister of Industry and Commerce Rishad Bathiudeen ceremonially opened the Sri Lanka Pavilion at the expo and delivered the keynote address at the 9th China-South Asia Business Forum held on the sidelines of the 2nd China-South Asia Expo.
Sri Lanka is leveraging ICT exports to achieve its $20 B goal of 2020. And a new support initiative by the Netherlands is set to elevate Lankan software exporters to latest tech developments. “The government is highly focused on ICT sector as a forex earner and export driver. We cannot ignore ICT if we are to achieve any progress” said Bandula Egodage (Chairman/CEO of EDB) on 19 June in Colombo.
Chairman Egodage was addressing the two day-hands on interactive session “Website Enhancement and Online Marketing ITO/BPO” organised by the EDB for Sri Lankan software manufacturing and export firms. The first ever such hands-on initiative moved by EDB was facilitated by Netherlands’ CBI (Centre for the Promotion of Imports from developing countries)-an agency of the Ministry of Foreign Affairs of the Netherlands. Joost vander Kooij and Onno Roukens, the two CBI professional consultants who specially arrived from the Netherlands to train the companies in the session helped the more than 25 Lankan participants of the session on a one-to-one basis. Among the ICT giants taking part were John Keells Computer Services, hSenid Business Solutions, 99X Technologies, Cyber Concepts, SewEasy, E-Nowave, InfoMate, Calcey Technologies, Pyxle, Allion Technologies, Dinota Information Technologies, Sanje, i-Context Content Convergence, Four Corners, Akio Information Technologies, Data Management Systems, Lanka Communication Services, E Marketing Eye, and Perfect Business Solution Services.
Sri Lanka’s external sector strengthened further in April 2014, with continued foreign currency inflows in the form of earnings from exports, tourism, workers’ remittances, as well as inflows to the financial account, the Central Bank said on Friday.
The trade deficit continued to narrow during the first four months of 2014 as a result of healthy growth in exports. The contraction of the trade deficit and higher inflows to services and income accounts contributed to reducing the current account deficit. These developments, together with inflows to the financial account have resulted in a higher surplus in the BOP by end April 2014, compared to the corresponding period of 2013,the Bank said.
Fish and fishery product sector plays an important role in Sri Lanka’s Social and economic life. The Sector contributes about 2.7% to country’s GDP.End of the civil unrest detained three decades in the country, fisheries sector has a significant scope to increase the level of contribution through exploiting high seas for tuna fishing & value addition.
Sri Lanka’s main fishery export products include tuna, fresh chilled and frozen form, shrimps & prawns, crabs and lobsters.Other than the above shark fins, fish maws, beche-de-mer, cuttle fish & squid, sprats are also exports mostly to the Asian markets. United Kingdom is the main market for Sri Lankan tuna followed by France, Italy, Netherlands, Germany etc.
The Sri Lankan apparel trade today is well renowned around the world to be the most cutting-edge and innovative when it comes to apparel manufacturing.
With a very long history of manufacturing in the island and throughout the challenges which this industry has faced to this day, the garment manufacturing stands much stronger than it has been ever before where the exports from this industry within a year increased by 11 percent (which was the biggest increase annually in 2013 compared with initial years) and by end November 2013 the exports earnings from this industry in Sri Lanka stood at US $2.876 billion, which is a substantial amount of foreign exchange bought into the country by a single industry.
The Sri Lanka Export Development Board (EDB) will be organizing a special pavilion at FACETS SRI LANKA – International Gem & Jewellery Show 2014 to be held at the Sirimavo Bandaranaike Memorial Exhibition Center from 04th to 07th September 2014.
Objective The objective of organizing this special pavilion is to give an opportunity for the SME Gem & Jewellery manufacturers to showcase their products and make use of the event as a platform for them to enter into the international market.
Sri Lanka’s coconut related exports increased by 86 percent during the first quarter of this year compared to 2011, Coconut Development and Janatha Estate Development Ministry sources said yesterday.
The Coconut Development and Janatha Estate Development Ministry was established in 2011 as a new Cabinet ministry. According to ministry statistics, during the first quarter of this year, Sri Lanka earned over Rs. 5,090 million from coconut related products, an 88 percent increase from the same period in 2011.
In the first quarter of 2011 it was Rs. 2,115 million. It increased annually and the total coconut related products export revenue in 2013 stood at Rs. 44,952 million. Sri Lanka exports 35 coconut related products to 135 countries.
Pakistan, Sri Lanka’s second largest trade partner in the region, has indicated interest in expanding its free trade agreement (FTA) trade with the island, creating growth in bilateral trade, which already exceeds the US $ 460 million mark, according to Sri Lanka’s trade ministry.
In a statement the ministry said that Pakistan’s High Commissioner Qasim Qureshi had indicated that his country looks forward to expand FTA trade by reducing sensitive items, thereby creating more opportunities for Lankan exporters.
Sri Lanka has a favourable ‘per container cost to export’ rate of only $ 595. After reporting $1.07 Bn record exports in March, the country is now mulling a new high tech initiative to help exporters to lower this rate for added competitive advantage-while eager Lankan exporters are already testing to avail themselves to a portion of $60Bn global savings from Free and Open Source Software (FOSS).
SMEs claim 70% of Sri Lankan enterprises and 23% of national employment. Our banking sector still looks the other way when it comes to our SMEs as they are worried about recovering credit from SMEs. This is despite our Central Bank’s efforts to keep lending rates at low levels. I urge our banking sector to link with Sri Lanka’s SMEs much closer and become a direct stakeholder in our national development. Do not avoid this risk. It is in such risks that great rewards and profits are found said Minister Bathiudeen and added: “In this background, I highly commend, the recent announcement by International Finance Corporation (IFC) office in Colombo to assist our SMEs with their valuable funding of $ 125 million.
Minister Bathiudeen was addressing the inauguration event of SMIDEX held recently by the Industrial Development Board under Ministry of Traditional Industries & Small Enterprises at BMICH, Colombo. According to the IDB, SMIDEX has been introduced by the IDB to mark its 45th year anniversary. SMIDEX is yet another national event showcasing the SMEs with special attention to technology, machinery, raw materials, business development and other services.
Hon. Rishad Bathiudeen, Minister of Industry and Commerce will attend the Tunisia Investment Forum (TIF) 2014 along with a Sri Lankan business delegation on June 12 and 13 at El Mouradi Gammarth Hotel, Tunis. The forum takes place just six months after Tunisia’s adoption of a new constitution.
Under the theme, ‘New Tunisia: New Democracy, New Opportunities,’ TIF 2014 will showcase the impact of democratic progress on the country’s economic and social environment. The forum is expected to present a more transparent and conducive investment destination to the international business community, highlighting investment prospects and growth generating projects, a news release issued in connection with the forum said.
As Sri Lanka’s trade with the virgin Eurasian market Belarus clocked $ 14 Mn, the gateway to the 170 Mn strong custom union wants to renew trade and business immediately -as early as in July.
“With your assistance, we want to prepare fruitful projects with Sri Lanka. We propose a Joint Economic Commission with Sri Lanka as early as July 2014 to be held in Colombo, if possible. We also can formulate the first Belarus Business delegation to Colombo during this event as per your interest” said a keen Vitaly Prima (the New Delhi based Ambassador of Belarus to Sri Lanka) on 22 May in Colombo.
Sri Lanka’s Ayurveda healthcare is garnering the attention of high end tourist market. “Lately, the Japanese travel sector has shown stronger interest in Sri Lanka’s Ayurveda tourism. Last week a Japanese Member of Parliament touring Sri Lanka also has expressed of Japan’s interest in Sri Lanka’s Ayurvedic care for Japanese medical tourists” revealed an upbeat Rishad Bathiudeen (Minister of Industry and Commerce) on 16 May.
Algeria is inviting Sri Lankan businesses to export tea, fruit and vegetable juices and many other products to that country, the Ceylon Chamber of Commerce announced.
This invitation was made by Echarif Mohammed-Hacene, Ambassador for Algeria in Sri Lanka and India, when he visited the Ceylon Chamber of Commerce, accompanied by Consul General for Algeria in Sri Lanka, Mukthar Marikkar.
He held a meeting with CEO/Secretary General of the Ceylon Chamber of Commerce Harin Malwatte, while Lilakshi De Mel, Senior Assistant Secretary General of the Chamber, was also present. During the meeting, the ambassador said, Sri Lanka can exports items such as, tea, fruits and vegetable juices, textiles, garments specially semi-finished traditional garments for women and spices.
Ambassador Echarif says, the Algerian consumers prefer to drink blended tea with mint and sugar and also would like to purchase tea in consumer bags.
Sri Lanka's first quarter exports registered a positive growth of 16%, while monthly exports for March jumped by as much as 27%.
"This is encouraging for our efforts towards $ 20 bn export goal by 2020 as envisioned by President Mahinda Rajapaksa," said Rishad Bathiudeen, Minister of Industry and Commerce on May 9 in Colombo.
Accordingly, this year's first quarter provisional exports totalled $ 2.80 bn while the comparative 2013 first quarter total exports stood at $ 2.36 bn, showing a 15.7% Q-on-Q growth.
As Lanka's exports to Japan topped $ 223 Mn mark, Sri Lanka is mulling a strategic, fast-track entry to one of the most coveted online markets in the world-Japan. "Japan is the second biggest retail market in the world. Japanese are also heavy internet users with a large e-commerce base. Using a top Japanese online giant like Rakuten could give Lankan exporters a wide-coverage and a low cost entry to this promising market" said Sujatha Weerakoone (DG-EDB) on 02 May at EDB premises.
DG Weerakoone was addressing the EDB organized event "Japan's Rakuten Platform for Sri Lankan Products" held for Lankan exporters on 02 May at EDB. The session consisted of a special in-depth presentation by Japan's Kanagawa based Takashi Yoshino (Principal, Y and F Associates LLC) who, in a his presentation, shoed in-depth of the pros and cons, and how to create an online strategy for Lankan exporters to Japan. Eager representatives from more than 40 Lankan export firms were present at the session.
Sri Lanka Export Development Board in collaboration with the Sri Lanka Embassy in Belgium organized the Sri Lanka’s participation at 22nd Annual European Seafood Exposition held in Belgium from May 6-8. Over 1,690 exhibiting companies attracted more than 25,800 buyers and suppliers for the event.
This year’s exposition marks the 22nd edition of Seafood Expo Global, and the 16th edition of Seafood Processing Global. The exposition is considered a unique opportunity for the global seafood industry to come together and make valuable business connections.
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.
