Exports in Sri Lanka: 2013

Sri Lanka’s Garment Exports to EU, US Jumps 30% in Sept’13

The exports of garments from the island nation of Sri Lanka to its major export destinations of the EU and the US recorded a remarkable growth of 30.7 percent year-on-year and 32.2 percent year-on-year, respectively, in September 2013, according to a press release issued by the Central Bank of Sri Lanka.
The sharp growth in Sri Lankan apparel exports to the EU and the US reflect the recovery in those economies, the statement said.

Sri Lanka’s textiles and garment sector as a whole posted a significant growth of 27.7 percent year-on-year during the month to register US$ 386.9 million, according to the Central Bank data.
From January to September 2013, Sri Lanka’s total textiles and apparel exports stood at US$ 3.126 billion, showing a rise of 5.2 percent over exports of US$ 2.972 billion made during the corresponding period of last year.

Export earnings increase to record levels in October

Daily News - 04/12/2013

The external sector strengthened further with the trade deficit contracting sharply in October 2013,the Central Bank said yesterday. Earnings from exports increased to record levels, reflecting the ongoing recovery in the global economy, while expenditure on imports declined. The contraction of the trade deficit, higher inflows to the services account and an increase in private transfers contributed to reducing the current account deficit.

The favourable developments in the external sector together with higher inflows to the financial account, resulted in the Balance of Payments (BOP) recording an estimated surplus during the first ten months of 2013, compared to the deficit recorded during the corresponding period of 2012, the Central Bank said yesterday.

Lanka exports jump in October

Asian Tribune - 24/11/2013

Top officials join Rishad Bathiudeen (Minister of Industry and Commerce) to review exports at the Ministry of Industry and Commerce.

Sri Lanka is hopeful as exports continue to surge with latest volumes showing a promising uptrend. “The export trend in September is continuing. The 3% exports increase in October is higher than expected” said a pleased Rishad Bathiudeen, Minister of Industry and Commerce on 22 November.

Minister Bathiudeen was acknowledging the latest export numbers for October 2013 indicated to him by his top officials on 22 November at the Ministry of Industry and Commerce.

$ 01 B int’l biz partnerships from Reflection

Asian Tribune - 22/11/2013

Sujatha Weerakoon (DG-EDB-second from left) and Bandula Egodage (Chairman-EDB) join Rishad Bathiudeen (Minister of Industry and Commerce-far left) and Basil Rajapaksa (Minister of Economic Development-second from right) on 16 November at Reflection of Sri Lanka, Battaramulla.

The biggest Lankan trade, tourism and investment exposition in history successfully concluded on Sunday 17 November at Battaramulla, with $ 01 Bn in international business partnerships. “The event appears to be a sell-out. There were more than 242000 visitors that included an unprecedented number of international buyers representing 66 countries -which led to 1428 serious buyer visits, 101 promising B2B meetings” said Rishad Bathiudeen, Minister of Industry and Commerce on 20 November in Colombo.

Minister Bathiudeen was speaking with his top officials including Anura Siriwardena, (Secretary, Ministry of Industry and Commerce), on 20 November acknowledging the final review of the progress of Reflection of Sri Lanka -the integrated tourism, trade, investment and SME exposition -inaugurated on 13 November in Battaramulla. Reflection of Sri Lanka was inaugurated by (HE) the President Mahinda Rajapaksa on 13 November evening in the presence of a large number of Lankan and international dignitaries as well as media.

Taiwan Textile Fair begins on November 26

Daily News - 20/11/2013

The top textile companies from Taiwan will be showcasing their cutting edge, unique and high performance textile products at Taiwan Textile Fairs in South Asia 2013 at the Taj Samudra, Colombo, Sri Lanka on November 26 and 27, 2013.

Taiwan is one of the largest textile exporters in the world and the Taiwan textile industry is internationally renowned for its manufacturing excellence. Their superior quality yarn, innovative fabrics and textile products are now coming to Sri Lanka and will present their range of state-of-the-art textile products to Sri Lankan apparel manufacturers at the Taiwan Textile Fairs in South Asia 2013.

Spice, allied products turnover to reach US$ 500 mn by 2015

Daily News - 19/11/2013
By Indunil Hewage

The demand for value added cinnamon products such as cinnamon leaf oil, bark oil, crushed cinnamon and ground cinnamon for confectionery and other food related industries has increased in the world. Sri Lanka is planning to double cinnamon export earnings by increasing value addition of cinnamon.

Sri Lanka is the largest supplier of cinnamon exports to the world spice market, producing about 85% of international output. However, Sri Lanka ranks well below in value added cinnamon exports to the world market. Other competitor countries make huge profits by adding value to cinnamon exported from Sri Lanka, while Sri Lanka is losing profit due to exporting more raw cinnamon.

Ministry of Economic Development of the Democratic : Reflection of Sri Lanka International exhibition from November 13 to 17

4-traders.com
By Dharman Wickremaratne

The exposition on Trade, Tourism and Investment titled 'Reflection of Sri Lanka' is set to take place in parallel with the Commonwealth Heads of Government Meeting (CHOGM), in November 13 to 17, 2013 at the Battaramulla Ape Gama premises(Jana Kala Kendraya). This event would be the biggest of its kind, happening in Sri Lanka, with the registered participation of 520 exporters under one roof, accommodating 968 stalls.

Reflection of Sri Lanka International Exhibition on Trade, Tourism and Investment organized by the Ministry of Economic Development and Ministry of Industry and Commerce together with Export Development Board(EDB), Sri Lanka Tourism Promotion Bureau and the Board of Investment(BOI).

Anuga Exhibition from 5th to 9th October 2013 in Cologne, Germany

Asian Tribune - 10/11/2013

Anuga Exhibition from 5th to 9th October 2013 in Cologne, Germany

The Anuga Exhibition is the most important platform for the food business held in Cologne. This year, 6777 exhibition stands catered to the public, and more than 150 000 trade visitors from 187 countries were present to check out the actual trends in the food business.

The Minister of Industries and Commerce of Sri Lanka, Rishad Bathiudean, accompanied by Ambassador of Sri Lanka in Germany, Mr. Sarath Kongahage, and the Consul General of Sri Lanka in Frankfurt, Mr. Pradip Jayawardana, opened the Sri Lanka representation with 41 Sri Lankan companies exhibiting high quality Sri Lankan products such as tea and other export products.

Lanka’s export revenue to reach US$ 11 billion mark

Daily News - 08/11/2013
By Indunil Hewage

Sri Lanka’s total export revenue is expected to reach US$ 11 billion mark by the end of this year, Export Development Board Chairman and CEO Bandula Egodage said

-“This is not an easy task, but we hope to reach the $ 11 billion export revenue mark by end of this year. As of September our total export value for 2013 is recorded at US$ 7314 million, which is a 1.07% increase in comparison to the same period in 2012. Our exports are now gradually strengthening despite the international market challenges. We have also set an export target of US$ 15 billion by 2015 and $ 20 billion by 2020. Apparel and tea exports currently account for over 40% and 20% of total exports from Sri Lanka respectively.

SL-B’desh mull formulating PTA

Daily Mirror - 05/11/2013

Sri Lanka and Bangladesh will begin formulating a preferential trade agreement (PTA) between the two countries subsequent to the completion of the Commonwealth Heads of Government Meeting (CHOGM), with a view to developing into a free-trade agreement (FTA) in future, according to Bangladesh High Commissioner to Sri Lanka Mohammad S. Rahman.

“The current quantum of bilateral trade between Sri Lanka and Bangladesh is still relatively low at approximately US $ 9 million.

However, there is a lot of potential to improve this figure. We hope to establish a PTA once the CHOGM is completed, which can eventually be developed into a fullyfledged FTA in future,” he stated.

Reflection of Sri Lanka Promotional Video

Ornamental live fish exports –National Priority Needed

Asian Tribune - 03/11/2013
By T.K.Premadasa

The notable feature of our exports during the last few years was the decline in exports, an ominous signal to the economy. The reason behind this decrease was the local and foreign market factors such as high cost of production, lack of strategic strength, non-preference by Western countries and economic crises in the occidental world.

Major products manufactured in Sri Lanka which took take the precedent role in its contribution to the export trade also shown decline trend. Under this situation, the export of fresh and marine water ornamental fish have significantly maintained export strength except 2012 and now showing nearly 20 % increase of its export in 2013 up to August compare to the previous year.

Sri Lanka identifies key investment projects for Commonwealth Business Forum participants

The Colombo Page - 03/11/2013

Sri Lanka has identified several key areas for investment opportunities to offer to the attendants of the Commonwealth Business Forum (CBF) that will coincide with the Commonwealth Heads of Governments Meeting (CHOGM) scheduled to be held in Sri Lanka from 15th to 17th November, 2013.

The Commonwealth Business Forum will be held from 12th to 14th November at the Hotel Cinnamon Grand in Colombo.

The Forum, organized by the Commonwealth Business Council (CBC) in collaboration with the Sri Lankan government, is seen as a great opportunity for Sri Lanka to enlighten the world about the investment potentials in the island.

Sri Lanka-China FTA not a blindsided rush- Minister Bathiudeen

nation.lk - 03/11/2013

Rishad Bathiudeen and CNCI delegation at the Ministry of Industry and Commerce on October 31. Gamini Gunasekara (new Chairman, CNCI) is seated second from left next to Minister Bathiudeen

Forthcoming FTA with China is not a blindsided move but is a process involving studies and even relevant stakeholder consultations. “We are still at initial study phase and we will not finalize product lists without consulting Lankan stakeholders such as various chambers and industries,” assured Minister of Industry and Commerce of Sri Lanka Rishad Bathiudeen to the oldest Industry Chamber in the country on October 31 in Colombo.

Minister Bathiudeen was addressing a delegation led by new Chairman, CNCI Gamini Gunasekara on October 31 at the Ministry of Industry and Commerce. Also taking part were Secretary, Ministry of Industry and Commerce Anura Siriwardena and additional secretaries, officials of Department of Commerce and CNCI officials.

Tea export earnings reach Rs 142 b upto September

Daily News - 29/10/2013

Sri Lanka’s overall tea export earnings during the period January – September of the year has increased by Rs. 10.6 billion year on year (YoY) to record Rs. 141.9 billion, according to a Forbes and Walker report.

However, overall export volumes in the first nine months of the year has decreased by 1.4 million kg year on year to 234.5 million kg.

The total tea export earnings in August also increased to Rs. 123.1 billion while tea export earnings in September was Rs. 18.5 billion. The volumes decreased by 3.1 million kg to 28.7 million kg.

Lanka moves up in global competitiveness

The Island - 28/10/2013

Rishad Bathiudeen (Minister of Industry and Commerce-left) in discussion with (HE) Cristian Barros (New Delhi based Ambassador of Chile accredited to Sri Lanka-right) during 25 October's presentation at Mt Lavinia Hotel.

Signalling a positive turn for its export diversification moves, Sri Lanka has notched itself up in the latest Global Competitiveness Index. And no less than 22 FTAs have helped Sri Lanka's topmost Southern hemispheric trading partner to lift itself off from a 'backyard GDP' and speed up to one of the best economies in South America today.

"I am pleased to say that Sri Lanka has improved to Rank 65 from its previous 68 in the Global Competitiveness Report 2013-2014. We stand just below Russian Federation in this ranking. The same index says that, Sri Lanka leads among SAARC countries on competitiveness levels" said Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) on 25 October in Mt. Lavinia.

Reflection of Sri Lanka

news.lk - 22/10/2013

A joint Trade, Tourism and Investment exhibition parallel to the Commonwealth Heads of Government Meeting (CHOGM) has been organized to be held from 13th to 17th November at the Janakala Kendraya in Battaramulla in Colombo under the title “Reflection of Sri Lanka”.

This exhibition has been jointly organized by the Ministries of Economic Development, Industry and Commerce and Investment Promotion. More than 300 Sri Lankan exporters including 75 machinery exporters and 100 technology providers and 200 SMEs will showcase their products at this mega exhibition.

Exports turn around, Lanka enters CHOGM biz runway

Asian Tribune - 23/10/2013

Rishad Bathiudeen (Minister of Industry and Commerce-left), Lakshman Yapa Abeywardena (Minister of Investment Promotion-centre) and Susantha Punchinilame (Deputy Minister of Economic Development) watch a presentation on ‘Reflection of Sri Lanka’ during 22 October’s special presser held at the Ministry of Mass Media and Information, Colombo 5.

An eager Sri Lanka launched the business side of its forthcoming CHOGM -and announced its new export turnaround to a packed presser on 22 October. “I am happy to say that our exports from January to September this year shows an increase of 1.07%, in comparison to the same period in 2012. This shows that, having faced the international market challenges our exports are now gradually strengthening” said Rishad Bathiudeen, Minister of Industry and Commerce on 22 October.

Minister Bathiudeen was addressing the official media announcement and special presser on “Reflection of Sri Lanka” held at the Ministry of Mass Media and Information in Colombo 5 on 22 October. Along with Minister Bathiudeen, also present were Susantha Punchinilame (Deputy Minister of Economic Development), Lakshman Yapa Abeywardena (Minister of Investment Promotion), Anura Siriwardena (Secretary, Ministry of Industry and Commerce), Charitha Herath (Secretary, Ministry of Mass Media and Information), officials of Sri Lanka Tourism, BoI, Tea Board, EDB, Gem and Jewellery Authority, and Ministry of Economic Development.

Sri Lanka exports up 10.7-pct in August, imports down

Lanka Business Online - 21/10/2013

Sri Lanka's exports rose 10.7 percent to 917.8 million US dollars in August 2013 from a year earlier, and import dropped 7.7 percent to 1.6 billion US dollars, the Central Bank said.

Export earnings from tea grew 49.3 percent to 142.8 million US dollars and apparel exports barely grew 2.1 percent to 366.5 million US dollars. Rubber products export value dropped 8.0 percent to 77.7 million US dollars.

Imports fell 7.7 percent to 1.6 billion US dollars in August. Consumer goods rose 18.6 percent to 266.6 million US dollars and intermediate goods fell 5.7 percent to 1,017 million US dollars though fuel imports rose 7 percent to 531.3 million US dollars.

‘FTA the biggest leap since ‘52 Rubber Rice pact’- Jianhua, China’s powerful int’l trade Minister

Asian Tribune - 19/10/2013

Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) and Yu Jianhua, the powerful Deputy International Trade Representative of the Ministry of Commerce of China view Minister Jianhua’s gift to Minister Bathiudeen (silk painting of the Forbidden City) on 17 October in Colombo.

The forthcoming China-Sri Lanka FTA is the biggest development in Sino-Lanka cooperation history since the 1952 Rubber-Rice Pact. And China is keen to see the groundwork on this FTA completed by December this year.

“My mission is to start the China-Sri Lanka FTA process. The forthcoming FTA is the biggest development in China-Sri Lanka bilateral cooperation since the historic 1952 Rubber Rice Pact between the two countries. We expect that the preparatory process of the forthcoming FTA to be completed by December this year. Then we can go to the next stage in 2014, ” said a confident Yu Jianhua, the powerful Deputy International Trade Representative of the Ministry of Commerce of China on 17 October in Colombo.

EDB promotes design driven exports to key global buyers and retailers at SLDF 2013

Daily Mirror - 14/10/2013

The Sri Lanka Design Festival (SLDF) 2013, backed by local industries and the Sri Lankan Government, kicked off yesterday. The main objective of the festival, which is to promote design driven exports, is supported by Sri Lanka’s apex institute for driving exports, the Sri Lanka Export Development Board (EDB).
Together with EDB, SLDF 2013 is held under the theme of South Asia’s Creative Hub, encompassing Sri Lanka moving towards the regional hub status in design. Under this, SLDF will join hands with the EDB to highlight and draw international attention to the major export industries like fashion/apparel manufacturing as well as emerging sectors like contemporary craft.

Lankan biz throng to EDB ‘Reflections’ expo at CHOGM

The Island - 10/10/2013

Lankan businesses of both SME and large scales are enthusiastically enlisting for the CHOGM event of EDB. "42 exhibitor firms from ornamental and handicraft sector, 40 from gem and jewelleries, and 19 from apparel sector are among them," said Ms Sujata Weerakoone, Director General of EDB on 08 October in Colombo.

Director General Weerakoone was addressing the special briefing session held at EDB auditorium on 08 October for exhibitors of forthcoming EDBs CHOGM exposition titled "Reflections of Sri Lanka-Exploring the Wonder of Asia". More than 250 reps from 184 Lankan businesses of SME and large scales from across the country were in attendance at EDB’s briefing session.

Tea Exports Hit Rs. 123 Bn

The Sunday Leader - 06/10/2013

Tea export earnings in the first eight months of the year increased by Rs. 10.6 billion year on year (YoY) to Rs. 123.1 billion, Forbes & Walker (F&W) in a report said.

Export volumes in the review period increased by 1.7 million kilos YoY to 205.7 million kg.
Kenya, one of Sri Lanka’s competitors, in the first seven months of the year increased its export volumes by 52 million kg. YoY to 293 million kg., F&W said.

In the same period Kenya’s tea export earnings increased by Rs. 18 billion* to Rs. 109.7 billion.
Meanwhile Sri Lanka’s tea export earnings in August increased by Rs. 6.2 billion to Rs. 18.8 billion YoY.
Likewise tea export volumes increased appreciably by 9.5 million kg. YoY to 31.4 million kg.

Hub is Sri Lanka’s USP!’ – Powerful Swiss Investment Arm

Asian Tribune - 05/10/2013

Wolfgang Schanzenbach (Regional Director Asia Pacific of Switzerland Global Enterprise (SGE) meets Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka-centre) on 03 October in Colombo.

Sri Lanka’s international Unique Selling Proposition (USP) is none other than its hub positioning. “At this moment, many countries in Latin America, Africa and Asia including Sri Lanka have great investment opportunities.

Sri Lanka will have to compete with these countries to leverage foreign investment streams from Switzerland” revealed a very confident Wolfgang Schanzenbach, Regional Director Asia Pacific of Switzerland Global Enterprise (SGE) on 03 October in Colombo.

Japanese apparel market craving for more Lankan made supplies

Daily Mirror - 01/10/2013

Apparel exports must be expanded to cater to the growing demand for Sri Lankan made products in the Japanese market, according to Japan’s House of Councillors Member Yamatani Eriko.

“Sri Lankan apparels are of high quality but unfortunately, the supply of Sri Lankan apparels to the demand of the Japanese market is not sufficient at the moment. Therefore, we request steps be taken to expand exports of Sri Lankan apparels to Japan.

Bilateral trade between Sri Lanka and Japan has a very long history and trade is one of the most important aspects of our bilateral relations. Ceylon tea and other Sri Lankan products such as apparels and ceramics are already popular in Japan,” Eriko stated.

Govt: Lanka companies bullish at EDB’s first ever China-Lanka direct B2B

The Island - 29/09/2013

"Eager Sri Lankan biz has experienced a sudden boost and witnessed new doors of opportunities on 26 September with a surge of inquiries from the powerful Chinese businesses now scouring Sri Lanka," the Ministry of Industry and Commerce said in a statement.

On 26 September, one hundred (100) Lankan firms of small, medium and large scales met reps from 23 powerful Chinese firms that arrived in Sri Lanka on 25 September as part of the Chinese Trade Promotion delegation to Colombo.

China seeks minerals, logistics services from Sri Lanka

Lanka Business Online - 28/09/2013

Chinese firms are planning to buy activated carbon and rubber from Sri Lanka following the visit of a trade delegation and others are in talks over minerals and logistics services, the island's trade ministry said.

"We have identified one Lankan partner firm for trading in activated carbon," An Qi Fu, international business manager of CITIC International, a Chinese state firm, was quoted as saying in a statement.
"We will start buying through the Lankan partner firm as soon as possible once the agreements finalised."

The Chinese trade delegation led by Jia Guoyong, the vice director general of the Chinese Trade Development Bureau (TDB), had 23 companies in glass manufacture, mining, minerals, agriculture, polymer, petroleum bi-products, chemicals, and real estate.

Saudi buyers, sellers invited to trade exhibition in Sri Lanka

Arab News - 27/09/2013

The Sri Lankan Embassy has invited buyers and sellers to participate in an exhibition to be held concurrently with the Commonwealth Heads of Government Meeting (CHOGM) 2013, scheduled to be held in Colombo from Nov. 13.

Anil Sirimanne, commercial counselor at the Sri Lankan Embassy, told Arab News that the event, which will discuss Sri Lanka’s trade, tourism and investment, will also coincide with the Commonwealth Business Forum (CBF), which will also be held in Colombo during the same period.

The Commonwealth is a voluntary association of 54 independent countries and the CHOGM is held every two years to enable leaders of Commonwealth countries to come together to discuss global and Commonwealth-related issues and to decide on collective policies and initiatives.

Ten Prominent Business groups to represent Sri Lanka at Pakistan EXPO 2013

Asian Tribune - 26/09/2013

High Commissioner of Pakistan Qasim Qureshi with the participants of expo 2013

The High Commissioner of Pakistan in Sri Lanka Maj Gen (R) Qasim Qureshi hosted the Sri Lankan businessmen participating in Pakistan EXPO 2013 along with the officials of Export Development Board Sri Lanka, today at the High Commission of Pakistan prior to their departure for Karachi.

Ten companies from Sri Lankan representing various sectors such as tea, herbal cosmetics, commercial paints, bicycles, fruits & vegetables, textiles and pharmaceuticals sectors will attend the largest EXPO of Pakistan, from 26-29 September, 2013.

Sri Lanka to hold exposition on Trade, Tourism & Investment in parallel to CHOGM

Colombo Page - 24/09/2013

In order to maximize the opportunity presented by the upcoming Commonwealth Heads of Government Meeting (CHOGM) in November, Sri Lanka is holding an exposition on Trade, Tourism & Investment in parallel to the event.

"Reflection of Sri Lanka" will be held at the Folk Art Center (Janakala Kendraya) in Battaramulla, a suburb of capital Colombo, from 13th to 17th November 2013.

The expo is organized by the Ministry of Economic Development, Ministry of Industry and Commerce, Sri Lanka Tourism, and Board of Investment (BOI) in collaboration with Sri Lanka Export Development Board (EDB) and in association with other government agencies.

Mr. Bandula Egodage, the Chairman & Chief Executive of Sri Lanka Export Development Board

I thank the Exporters' Association of Sri Lanka for inviting me to the AGM and giving me the opportunity to address this distinguished gathering of members.

The Exporters Association which represents about 80% of exporters in the country is the foremost body for exporters in Sri Lanka. We highly appreciate the contribution of Association towards the export development effort of the country.

The Government's vision as envisaged in the 'Mahinda Chintana' is to transform Sri Lanka into a strategically important economic centre of the world. This would then lead to socio economic development of the country. The export sector which contributes 17% to the GDP of the country, clearly plays an important role in achieving this objective.

SL’s fruit and vegetable exports tops US$ 32.5 m

Daily News - 20/09/2013
By - Fizel Jabir

Processors and exporters in combination have achieved as at today a 20 % increase in export revenue compared to last year, said Bandula Egodage, Chairman Export Development Board addressing the Lanka Fruit and vegetable Producers, Processors and Exporters Association's 32nd AGM on Wednesday.

He said the industry has earned US$ 32.5 million export earnings in 2012 which was very significant because members of the association were engaged in agriculture. He said the members of the association were playing a vital role in terms of rural development in Sri Lanka and was engaged in a huge CSR campaign which was more vital than figures. He said value addition was vital to overcome rising input costs.

Partnering Lanka shines bright at Turkey’s Izmir, snaps-up immediate orders

Asian Tribune - 18/09/2013

Sri Lanka, honoured as the first ever Asian Partner country at the Izmir Int’l Fair series in Turkey, has successfully clinched several trade and business deals at this global event, while also pushing its historic trade ties with the easternmost NATO power to new levels.

“We consider Turkey as one of the most important Trade Partners with high potentials for trade growth, and the present bilateral trade at $ 190 Mn is a credible starting point towards bigger trade, which in turn, has shown an increasing trend over last five years” said Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) addressing the huge audience at the inaugural session of 2013 Izmir International Fair (the 82nd international multi-product exhibition series) on 29 August in Izmir, Turkey.

Status of Sri Lankan NR-based industry

Daily Mirror - 18/09/2013
by Dr. N.Yogarathnam

The Sri Lankan rubber products manufacturing industry is composed of about 4,530 manufacturing organizations of small, medium and large-scale entities.
Nearly 70-80 percent of the local rubber production is used by these domestic industries. Sabaragamuwa and Western provinces record 87 percent of the total number of rubber industries in the country.

All large and small-scale industries and 80 percent of medium-scale rubber industries can provide employment for trained personnel in rubber technology. Within a relatively short period, this industry has become a reputable major world supplier of quality rubber products.

The total rubber production (raw rubber and value-added) generated over 1.1 billion US dollars in terms of revenue and value-added rubber accounted for 80 percent of total rubber exports.

Sri Lanka, China to close free-trade deal

Gulf News - 17/09/2013

Sri Lanka and China will finalise a free-trade agreement ahead of a Commonwealth summit in Colombo in November, a government minister said on Tuesday.

The two sides have been hammering out details of the duty-free goods under the deal, Investment Promotion Minister Lakshman Yapa Abeywardena told reporters in Colombo.

China has been investing heavily in Sri Lanka, with loans and expertise instrumental in building ports, highways, railways and power plants in the Indian Ocean nation.

Sri Lanka plans to export salt from Hambantota Port

Colombo Page - 17/09/2013

Sri Lanka, expecting a bigger salt harvest this year from the country's salterns, plans to export the excess salt.

The Chairman of Lanka Salts Ltd., Pradeep Wijesiriwardana has said that there will be excess salt when the salterns at Elephant Pass produce salts and the excess can then be exported.

Wijesiriwardana has said that the plans are already underway to export the excess production from the Hambantota port.

Increase in tea export earnings

Daily News - 13/09/2013
by Indunil Hewage

Sri Lanka's total quantity of tea exported including re-exports with imported tea for July reached to 29.88 million /kg, indicating a gain of 3.34 million/kg compared to the corresponding period in 2012.

The cumulative tea export earnings rose to Rs 17.76 billion, showing a slight gain of Rs 2.77 billion as against the same period last year with the increase in FOB (Free on Board) price per kg from Rs 564.92 to Rs.594.50, according to a tea market report.

Cumulative exports including re-exports with imported Tea for the period January to July 2013 recorded 174.25 million /kg, a decline of 7.82 million /kg in comparison to same period last year.

As the first ever textile agreement between India and Sri Lanka became a reality, both neighbours mulled joining to enter a coveted global textile foothold-China, the world’s largest textile market. “China’s textiles are gradually moving from production to consumption. Using our strengths together-Sri Lanka’s first class garment manufacturing infrastructure and India’s quality fabric outputs-let us jointly compete for China’s textile market” said a determined Ms Zohra Chaterji (Secretary of Indian Ministry of Textiles) on 09 September in Colombo.

Ms Chaterji was addressing Anura Siriwardena (Secretary, Ministry of Industry and Commerce of Sri Lanka) on 09 September at Cinnamon Grand during her delegation’s official meeting with Sri Lanka’s delegation after the signing the first ever MoU between India and Sri Lanka on the same day at Galadari Hotel, Colombo earlier. During the successful Cinnamon Grand meeting, officials from both sides discussed in depth, of the modalities of the morning MoU and how to move forward and implement it in the coming months and agreed on the immediate next steps.

Sri Lanka, the first ever country in Asia has been offered the “Partner Country” status at the 82nd Izmir International Fair, the oldest Trade Exhibition in Turkey. Sri Lanka’s participation promoted Sri Lanka as a reliable destination for trade investment & tourism and showcased the best that the island paradise has to offer, under the theme “Sri Lanka -Wonder of Asia”. This theme is in line with the Mahinda Chinthanaya, vision of the President of Sri Lanka who has given the leadership to initiate a grand scheme of progress and development in the country.

Radical new boat ‘will significantly boost Sri Lanka’s tuna exports’

Sunday Times - 08/09/2013

By Nick Hart

Pic shows a ‘test-bed’ vessel on which the tuna boat is based under construction at the Viksund yard

Negombo – A radical new, locally built high-speed catamaran fishing boat is poised to significantly boost the number of top-price tuna available for export from Sri Lanka to markets in Japan, China and the Middle East.

It will also help ensure tuna sustainability in Sri Lankan waters by reducing by up 70 per cent the number of fish needed to be caught in order to ensure maximum profitability.

Sri Lanka’s Ministry of Fisheries and Aquatic Resources Development has expressed keen interest in the new vessel, which will help put the country at the forefront of next-generation fishing-boat development.

Dutch biz in town

Asian Tribune - 06/09/2013

Buddhi Athauda (Ambassador of Sri Lanka to the Netherlands-far right) and Dr Yousuf Maraikkar (Executive Director-EDB) engage the visiting members of the Dutch biz delegation at Hotel Mt Lavinia on 04 September.

Dutch biz are bullish on Sri Lanka’s emergent prospects. “Sri Lanka’s historic links with the Netherlands have entered a new era. This strong business and investment delegation is the latest sign” said an upbeat Buddhi Athauda (Ambassador of Sri Lanka to the Netherlands) on 04 September in Mt. Lavinia.

Ambassador Athauda was addressing the inaugural event of the visiting Netherlands business and trade delegation to Sri Lanka on 04 September held at Mt Lavinia Hotel, Mt Lavinia. The delegation, which is on a week-long tour in Sri Lanka, and which arrived on same day (04 September) in Colombo, consisted of reps from such leading Dutch firms as JIMPP Media, Abos, Defteq International BV, Beursgenoten, Fleurons & Prins, Velema Holdings, and Zonel Energy Systems.

EDB facilitated presentations from various Lankan private sector firms-including Ceylon Tea, and Tourism- were made to the visiting delegation on 04 September at the Mt. Lavinia Hotel, followed by a successful B2B session between Dutch and Lankan biz that continued throughout the afternoon. Jimpp Media BV, a business programme producer is also part of the delegation. Ron Abdoelhafiezkhan, a well-known Dutch talk show host and a TV producer as well as JIMPP’s leading producer Ms Juliette Iperen with her TV crew are also in the delegation. The JIMPP TV crew is scheduled to start shooting for two half hour segments on Sri Lanka’s new developments, to be televised in Netherlands.

Strengthening ties at EDB

Daily Mirror - 02/09/2013

The Sri Lanka Export Development Board (EDB) celebrated its 34th anniversary recently. As a part of its anniversary celebrations, the formation of an Ex-EDB Employees society titled ‘Ex-EDB Employees Sansadaya’ was proposed, to strengthen the ties between the present and past employees of the EDB. The inaugural meeting and the get-together of the ‘Sansadaya’ was held on 23 August at the Cey-Nor Seafood Restaurant, Colombo, with the participation of present and past employees of EDB

Israeli Trade delegation upbeat on investment prospects in Sri Lanka

Asian Tribune - 31/08/2013

A high end Israeli Trade delegation consisting of approx. 25 delegates from diverse sectors such as agriculture, dairy, the high tech industry, defence, insurance and water management sectors is currently visiting Sri Lanka in order to explore potential scope for collaboration between the two countries. The trade delegation which arrived on 26th August is led by Ambassador Sarath Wijesinghe, Sri Lanka’s Ambassador to Israel.

The objective of organizing the visit by the Sri Lanka Embassy in Israel with the assistance of the Export Development Board, the Chambers of Commerce and the Israel –Asia Chamber of Commerce in Israel was to highlight Sri Lanka’s comparative advantages as well as the variety of investment incentives available in the priority sectors of the Sri Lankan economy. This visit is also timely since there has been considerable growth in bilateral economic relations between Sri Lanka and Israel with trade doubling to US $ 158.35 million last year.

Negotiations on bilateral cooperation of Belarus and Sri Lanka held at business forum

The delegation of Sri Lanka is interested in export of certain Belarusian goods such as sugar, tires and oil products. The heads of the states agreed on setting up joint ventures.
Joel Selvanayagam, the chair of the group of companies (Sri Lanka): "We have enormous potential and technologies. By uniting them we can advance our economies".

Bilateral cooperation of Belarus and Sri Lanka discussed during governmental meeting

The President of Sri Lanka Mahinda Rajapaksa and the Prime Minister of Belarus Mikhail Myasnikovich confirmed the mutual interest in such aspects as mechanical engineering, high technology, education, construction and tourism.

And right after the meeting in the Government House, the officials joined the business circles of the two countries. Multiple agreements, among which is the cooperation agreement between the National Center for Marketing and Price Conjuncture of the Ministry of Foreign Affairs of Belarus and the Export Development Board of Sri Lanka, were signed within the framework of the business forum.

Facets 2013, Sri Lanka’s Premier International Gem & Jewelry Show begins on August 29, 2013

International Gem and Jewelry News

In accordance with the popular slogan “Come September Come Facets” the 23rd version of Sri Lanka’s premier International Gem & Jewelry Show, Facets 2013, eagerly awaited by all stakeholders in the international gem and jewelry trade and industry, is due to be held from August 29th to September 1st, 2013, at the usual venue, the Sirimavo Bandaranaike Memorial Exhibition and Convention Centre, part of the complex of buildings associated with the Bandaranaike Memorial International Conference Hall (BMICH), situated along Bullers Road, Colombo. The show is organized by the Sri Lanka Gem & Jewelry Association (SLGJA) and co-sponsored by the National Gem & Jewelry Authority (NGJA) of Sri Lanka and the Sri Lanka Export Development Board (SLEDB).

The show will be held in the two large octagonal-shaped convention halls of the exhibition center, the main hall being reserved for the display of precious and semi-precious gems and the second hall allocated to jewelry, lapidary and other machinery used in the gem and jewelry industry. Around 200 exhibitors both local and foreign are due to be accomodated in both halls. The ceremonial opening of the show will be held at 9.00 a.m. on August 29, 2013 and the show will be open to visitors from 9.30 a.m. to 6.00 p.m. on August 29, and on the remaining three days August 30 to September 1, from 10.00 am to 6.00 p.m

Sri Lanka's Jaffna peninsula seeks more trade and investment

Lanka Business Online - 18/08/2013
By Anushika Kamburugamuwa

Sri Lanka’s northern Jaffna peninsula, which has emerged from a 30-year civil war, has untapped potential for greater investment and trade officials said.

"We welcome all the new businesses and investments," K Pooranachandran, president of the Jaffna chamber of commerce and industry said.
"We are here to help them. The place is very conducive for businesses and new developments."

The Jaffna peninsula, which has a population of about 600,000 population, is now looking up businesses in the area linking with other areas in the island.

"Trade links have developed strongly," Pooranachandran said. "There is a very good link with Colombo and Jaffna.

FACETS 2013 to attract larger crowds this year

Over 50 Small and Medium Eenterprises (SMESs) will take part in FACETS Sri Lanka 2013, the international gem and jewelry exhibition, according to the organizing committee. Organized by the Sri Lanka Gem and Jewelery Association (SLGJA), this year’s event held for its 23rd year, will be held from August 29 to September 1 at the Sirimavo Bandaranaike Memorial Exhibition Center.

FACETS 2013 not only provides ample opportunity for local businesses to showcase their capabilities to participating delegation from around the world, but also creates strong networking, knowledge sharing and skill enhancing opportunities for the SME sector enterprises. Local manufacturers will be able to acquire knowledge on technology, process, best practices and the importance of maintaining industry quality standards right throughout the event.

Fruit and vegetable exports record 21% growth

Sunday Observer - 18/08/2013
By Lalin Fernandopulle

Fresh fruit and vegetable exports recorded a 21.8% growth in the first six months of this year, said International Foodstuff Group of Companies, Chairman and a member of the Advisory Committee of the Export Development Board, Sarath de Silva.

He said that the fresh fruit and vegetable sector recorded this growth despite a slump in exports of other commodities. Export revenue has been declining since last year with a revenue drop of 6.8 percent in April this year according to the Central Bank. Export decline has been attributed to the low global demand for commodities.

New regulations likely to boost Sri Lankan apparel exports

Fibre2fashion.com - 08/08/2013

Sri Lanka’s apparel sector is likely to benefit from the new regulations issued by the Finance Ministry of the country.

The regulations cited as the Finance Act - Commercial Hub Regulation (CHR) No. 1 of 2013, will be applicable on all new established enterprises in the country.

Under the regulation, any new enterprise which is established or incorporated in Sri Lanka, where at least 65 percent of its total investment has been from foreign sources, shall be exempted from the application of Provisions of the Customs Ordinance (Chapter 235), the Exchange Control Act (Chapter 423), the Imports and Exports (Control) Act, No. 1 of 1969, and acts referred to in schedule of the Principle Act as amended by the Finance Act, No.12 of 2013.

Third global Potash power switches Lanka’s agro-automotive ignition!

Asian Tribune - 08/08/2013

Rishad Baathiudeen (Minister of Industry and Commerce-second from right) greets the visiting Vitaly Prima (New Delhi based Ambassador of Belarus to Sri Lanka-left) during bilateral trade discussions on 06 August at the Ministry of Industry and Commerce, Colombo.

Belarus, world’s third largest potash power and an industry driven economy with a GDP equal to Sri Lanka, is bullish on Sri Lanka’s trade, B2B and more importantly, in its industries. And Belarus is gearing towards partnering in the kick-start of Sri Lanka’s crucial agro-automotive industry.

“46% of our GDP is industries! We have carefully studied about Sri Lanka’s economic and industrial zones and please tell us more about your 26 industrial zones that aroused our interest!” declared an eager (HE) Vitaly Prima (the New Delhi based Ambassador of Belarus to Sri Lanka) on 06 August in Colombo.

Prima, who is currently leading a 14 member trade and business delegation to Sri Lanka, was addressing Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) at Minister Bathiudeen’s Industry and Commerce Ministry on 06 August during his delegation’s meeting with Minister Bathiudeen.

Committee to boost trade, investment with France

Lanka Business Today - 06-08/2013

The Sri Lanka – France Business Council (SLFBC) which functions under the aegis of the Ceylon Chamber of Commerce held its 9th Annual General Meeting at the Ceylon Chamber of Commerce recently. The Council was inaugurated on February 4, 2004 with a primary objective of promoting trade, investment, tourism and services between Sri Lanka and France and to promote mutual understanding and strengthen the relationships between Sri Lanka and France.

Christine Robichon, Ambassador of France and Patron of SLFBC graced the occasion as the chief guest. Congratulating the newly appointed Committee she underlined that activities such as visit to France early this year demonstrated the usefulness of exchanging business delegations both ways. It was also mentioned that the partnership between the Embassy and Business Council went deeper with the successfully organised Symposium on Urban Development recently and the Embassy will continue to closely work with the Council in the future.

June exports record commendable growth

Sunday Observer - 04/08/2013

By Sanjeevi Jayasuriya

The country’s exports earnings for June recorded commendable growth. However, it is necessary to have the right balance between commodity and cost.

According to provisional Customs data, Sri Lanka is heading in the right direction despite challenges. Exports to our key markets the USA and EU, especially to USA have shown a satisfactory increase in June 2013, Sri Lanka Export Development Board (EDB) Chairman and Chief Executive, Bandula Egodage told Sunday Observer Business. The problems in our key markets indicate that we should focus on diversifying our markets to other regions. The Asian region comprising China and India has registered substantial economic growth, he said.