US-SL trade talks conclude in Colombo

Daily FT - 16/10/2014

• GSP, labour, trade promotion among discussed items
• SL-US biz relationship at $ 3 b: Trade Rep Delaney
• US Ex-Im Bank renewing ties with Lanka: Rishad
• US biz team also in town, US-SL Biz Forum today
• YoY SL-US trade up by 21% to $2.8b

Minister of Industry and Commerce Rishad Bathiudeen (third from left) addresses the 11th Joint Council Meeting under the US-Sri Lanka Trade and Investment Framework Agreement joined by SL Embassy in Washington DC Minister Counsellor Bandula Somasiri (far right), Sri Lanka’s Ambassador to the US Prasad Kariyawasam (second from right), Ministry of Industry and Commerce Secretary Anura Siriwardena (fourth from right), DoC DG R.D.S. Kumararatne (fifth from right) and MoIC Additional Secretary Sheita Senaratne (sixth from right) and Minister (Commercial) at Lanka Embassy in US Bandula Somasiri (right)

Talks under the Sri Lanka and US Trade and Investment Framework Agreement (TIFA) concluded yesterday in Colombo, reiterating the commitment to foster greater bilateral economic engagement.
“The US-Sri Lanka Trade and Investment Framework Agreement (TIFA) is the premier dialogue for managing bilateral trade and investment relationship between both countries. This relationship amounts to $ 3 b” said Michael Delaney, the visiting Assistant United States Trade Representative for Central and South Asia yesterday in Colombo.

Delaney, who is leading a 10-member official delegation to Sri Lanka, was addressing the 11th Joint Council Meeting (JCM) under the US-Sri Lanka Trade and Investment Framework Agreement (TIFA) at the Taj Samudra, Colombo.

Sri Lanka Pavilion at Gardex / IFEX 2014 on Oct. 15-17 in Japan

news.lk - 15/10/2014

The Sri Lanka Export Development Board (EDB) with the assistance of the Sri Lanka Embassy in Tokyo, Japan, has organized a Sri Lanka Pavilion at the Gardex / IFEX 2014 International Garden Exhibition from October 15 to 17 in Japan.

Eight (08) leading Sri Lankan exporting companies from Coconut Based Substrate and a leading Foliage and Live Plants exporter exhibits at this event.

56% of export target achieved: Rishad

Daily FT - 08/10/2014

• Jan-Aug exports bring Lanka closer to ’14 target

With latest January-August export totals, Sri Lanka has clinched 56% of annual export target for 2014 while the spice sector has returned, as revealed on 3 October. Meanwhile, the spice industry is full of praise for the Government for the assistance lent to the sector’s development.

“By end of this August we have already achieved 56% of our annual national export target for year 2013. Thanks to you, the committed spice and other product exporters, we are able to move towards our overall $ 20 b target now,” said Minister of Industry and Commerce Rishad Bathiudeen on 3 October in Colombo.
Bathiudeen was addressing the 11th Annual General Meeting of The Spice Council (TSC) at the Taj Samudra Hotel.  Also present on the occasion were Minister of Minor Export Crop Promotion Reginald Cooray, DoC DG R.D.S. Kumararatne, EDB DG Sujatha Weerakoone, The Spice Council Chairman Nanda Kohona, founder Chairman of the Spice Council of Sri Lanka Sarada De Silva, top officials of EDB and many leading members of Sri Lanka’s spice industry.

Boat Show 2014 to take centre stage in October

Daily News - 06/10/2014
By Indunil Hewage

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 October 10-12, 2014 at the Dickowita Fisheries Harbour under the theme ‘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.

Matching global construction standards vital for country’s progress: Rishad

Daily FT - 04/10/2014

• Six construction exhibitions open at BMICH
• Sub-sector grows by 14.4%
• Construction sector 7.3% of GDP

Sri Lanka’s surging construction sector is not only an indicator of economic health, but also an integrator of an important economic layer, meaning that following international standards in the construction sector could help the country’s ‘Hub Status’ journey, Industry and Commerce Minister Rishad Bathiudeen said yesterday.

“The construction sector claims only 7.3% of our GDP. However, the sector is much more important than these numbers would indicate. There is a strong SME presence in this sub-sector,” the minister expressed.
Minister Bathiudeen was addressing the inauguration ceremony of the International Exhibition on Windows and Doors, Aluminium Extrusion, Roofing and Façade, Glass and the 2nd International Exhibition on Sri Lanka Wood at BMICH.

Russia opens seafood market for Lankans

Daily News - 03/10/2014

Sri Lankan seafood exporters have been invited by Russia to export to the country giving a major boost to the industry.

Russia's Ambassador to Sri Lanka Alexendra Karchava speaking at the Russia Sri Lanka Business Council AGM and a meeting with Sri Lankan seafood exporters said in current political and economic context, Russia is seeking to diversify its food items market and reorient it from European countries by reaching towards new suppliers in new regions, particularly, in Asia.

Top corporates in Lanka’s first industrial energy push

Daily FT - 29/09/2014

• 11 top Lankan manufacturers in pilot project
•  ‘Round one a success, mulling second!’: Rishad
• ‘Slowly getting-off from oil powered energy’: CEB’s Prof. Perera

Several top Lankan manufacturing firms have been enlisted in the first ever industrial energy initiative as announced on 25 September. As a result of the success, a second manufacturing energy initiative is now being mulled. And, Ceylon Electricity Board is slowly ‘getting off’ from expensive oil powered generation!

Minister of Industry and Commerce of Sri Lanka Rishad Bathiudeen (third from left) inaugurates 12th POWER Sri Lanka 2014 International Expo at Sri Lanka Exhibition and Conventions Centre, Colombo joined by (from left): CEMS Sri Lanka CEO Sarwar, Central Engineering Consultancy Bureau Chairman Nihal Rupasinghe, CEMS Global Asia Pacific Group CEO S.S. Sarwar, EDB Chairman & CEO Bandula Egodage and Ceylon Electricity Board Vice Chairman Professor Kapila Perera on 25 September