‘Even our SMEs suffered in global recession’-Rishad

news.lk - 26/05/2014

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.

Lankan delegation to explore new opportunities in post-revolution Tunisia at TIF 2014

The Island - 24/05/2014

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.

First Lanka-Belarus JEC, biz delegations in July amidst renewed trade

Asian Tribune - 23/05/2014

Rishad Bathiudeen (Minister of Industry & Commerce-centre) greets Ambassador Vitaly Prima (the New Delhi based Ambassador of Belarus to Sri Lanka-second from left) on 22 May in Colombo.

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.

Algeria interested to buy Sri Lankan tea, fruits and vegetable juices

Ceylon Today - 14/05/2014

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.

Japanese smiling on Lanka Ayurveda

Asian Tribune - 19/05/2014

Basil Rajapaksa (Economic Development Minister of Sri Lanka-second from right) and Rishad Bathiudeen (Minister of Industry and Commerce-fourth from left) attempt tasting fruit based confections from the Vietnamese exhibitor Alpha International Food JSC at the inaugural event of AROGYA 2014 and INTRAD 2014 at BMICH, Colombo on 16 May.

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.

SL to place its export products on top e-commerce portal

The Island - 11/05/2014

Sujatha Weerakoone (DG-EDB-far left) addresses the Rakuten platform intro event at EDB on 02 May as Japan's Kanagawa based Takashi Yoshino (Principal, Y and F Associates LLC-seated next, second from left) and Lankan exporters (seated next) look on.

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.

Apparel exports up by 20% to $ 1,257 m

Daily News - 12/05/2014

Bandula Egodage, Chairman & CEO of EDB having discussion with Rishad Bathiudeen Minister of Industry and Commerce about the latest export trends at the Ministry of Industry and Commerce. 

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.