‘Lanka IT sector to hit $1B mark next year’-EDB

news.lk - 05/12/2014

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.

EDB to host international delegation at SLDF 2014

Daily FT - 05/12/2014

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).

Visegrád Four to synergise Lanka's FTAs to penetrate South Asia

Daily News - 04/12/2014

The V4 industrial 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.

Over US$ 1b gems to China by 2016

Daily News - 05/12/2014

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.

20 IT SMEs in EDB’s first Jaffna Export Forum today

Daily FT - 05/12/2014

• ‘30 more would be entrepreneurs too’: SLAASCOM’s Sekaram
• ‘$ 5B IT exports by 2020’: EDB’s Egodage
• ‘Cloud tech helping regional IT’: SLAASCOM’s Sekaram2103 IT exports at $ 719 m

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.

New dimension in Lankan fashion and apparel to debut at SLDF 2014

Daily FT - 02/12/2014

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.

Vietnam calls for FTA

Daily FT - 02/12/2014

• ‘Appointing Lanka’s first trade official to Vietnam’ – Rishad
• ‘Bilateral trade should not be just rice and tea’ – Kieu Thu
• YoY bilateral trade surges by 88%
• ‘Time to explore joint apparel synergies too’ – Kieu Thu

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.