Sri Lanka has an impressive record in planting, production & export of rubber – President

Asian Tribune - 28/10/2014

Sri Lanka has an impressive record in the planting, production and export of rubber which is today the third largest sector to the country’s economy, said President Mahinda Rajapaksa.

Rubber is an important part of the country’s plantation sector and its contribution to agro-industry provides gainful employment to more than 300,000 persons making it a mainstay in the socio-economic aspects of the country, he added.

Sri Lankan Rubber and Rubber products have today earned worthy recognition for good quality and reliability in the international market, he stated.

Lanka’s top global FDI partner in yet another $ 1 b rollout

Daily FT - 28/10/2014

• Malaysia places Lankan SMEs as top priority
• Going up to $ 1 b: – Delegation Lead Abdullah
• Great news for our SMEs: Rishad
• We are moving to SA via Lanka: SME Factors’ Al Qudsy
• Lanka-Malaysia trade at $ 577 m

Sri Lanka’s largest global FDI partner Malaysia is mulling a new wave of incremental FDI totalling $ 1 b with an emphasis on SMEs.
It will become one of the largest-ever Private Public Partnership (PPP) ventures in Sri Lankan SMEs and the entry of biggest SME financier in Malaysia to Sri Lanka is the first step in their South Asian leap.
“We are thinking of another $ 1 billion portfolio in Sri Lanka in addition to the current investment portfolio here by EXIM Bank of Malaysia. SMEs are the priority sector in this new $ 1 b rollout while other sectors are also being mapped,” said Syed Zed Al Qudsy, President of SME Factors, Jalan, Malaysia on 15 October, addressing Minister of Industry and Commerce Rishad Bathiudeen at the EDB Building in Colombo.

Jaffna IT Week to take IT/BPM sector north

Daily FT - 25/10/2014
By David Stephens

SLASSCOM Vice Chairman and Jaffna IT Week Convener Mano Sekaram addressing the media last evening. Also present from left: SLASSCOM Executive Director Dharshan Cooray, Emeritus Chairman Madu Ratnayake, SLEDB Chairman/CEO Bandula Egodage, ICTA CEO Reshan Dewapura and University of Jaffna Senior Lecturer Dr. A. Ramanan

The National IT/BPM Chamber, Sri Lanka Association for Software and Services Companies (SLASSCOM), in an effort to promote inclusive growth and reconciliation, will stage the Jaffna IT Week from 3-6 December at a number of venues across the region.

The Jaffna IT Week will comprise the Future Careers Program on 3 and 4 December at the Vembadi Girls’ High School, an IT/BPM Export Forum staged at the Tilko City Hotel on 5 December and the Jaffna IT Conference, which will be held at the Kailasapathy Auditorium of the University of Jaffna on 6 December.

Sri Lanka represented at the largest SME Fair in the Asia Pacific region in Guangzhou

news.lk - 21/10/2014

Sri Lanka participated for the first time at the 11th edition of the China International SME Fair (CISMEF) in Guangzhou from 11 to 14 October 2014. The Sri Lanka Pavilion was jointly organized by the Consulate General of Sri Lanka in Guangzhou and the Sri Lanka Export Development Board and had strong representation from business leaders of the SME sector, showcasing premium products from thrust export sectors such as gems and jewellery, tea and spices, handicrafts, handlooms and ayurvedic products.
Mrs. Sujatha Weerakoon, Director General of the Sri Lanka Export Development Board, speaking at the opening of the Sri Lanka Pavilion pointed out that the Government’s numerous trade facilitation initiatives and President Xi Jinping’s recent State Visit to Sri Lanka have created new opportunities for even closer cooperation between Sri Lanka and China, particularly in trade and urged Sri Lanka companies present to maximize the opportunity to enter the attractive Chinese market.

First-ever on-water Boat Show a success

Daily FT - 18/10/2014

• 2013 boat exports surge by 46%
• Buyers and exhibitors from Korea, Maldives, Seychelles
• Improved standards: Minister Senaratne
• Value-added business: EDB’s Egodage

Economic Development Minister Basil Rajapaksa (second from left), Minister of Fisheries and Aquatic Resources Development Rajitha Senaratne (third from left) and EDB Chairman/CEO Bandula Egodage at Boatshow 2014 on 10 October at Dickowita Harbour, Wattala

Colombo’s latest international boat show, which featured an on-water boat display for the first time, concluded successfully after a three-day run on 12 October.

“We have been talking about five hubs. Today there are two major milestones taking place at this event – the promotion of the maritime hub as well as our tourism,” said EDB Chairman and CEO Bandula Egodage, addressing the inauguration event of Boatshow 2014 on 10 October at Dickowita Harbour, Wattala.

Sri Lankan ICT companies at GITEX 2014 in Dubai

Daily FT/ 16/10/2014

Six Sri Lankan ICT companies, Brandix I3 Ltd., hSenid Software International, Microimage Ltd., Negete Ltd., Pyxle Ltd. and AP Lanka Ltd. are exhibiting their software products and services at ‘GITEX Technology Week’ from 12 to 16 October at the Dubai World Trade Centre.

The Sri Lanka Export Development Board (EDB) organised the country pavilion in coordination with the Sri Lanka Consulate General in Dubai.

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.