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.

‘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.

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.

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.

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.

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.

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.