- Initiative puts opportunities for Sri Lanka from global supply chain shifts under spotlight
The American Chamber of Commerce in Sri Lanka is pleased to announce in collaboration with USAID, the launch of ‘TRADESHIFTS 2020 – OPPORTUNITIES FOR SRI LANKA FROM GLOBAL SUPPLY CHAIN SHIFTS.’
This initiative of the AmCham Sri Lanka, supported by USAID will engage with the larger business community, other industry chambers, consulting groups and the Government of Sri Lanka in creating and implementing a strategy to attract US-led businesses that are seeking to re-locate or diversify across Asia given the current trends and shifts in the Global Supply Chain.
US businesses, buyers and investors have been seeking alternate manufacturing and supply locations for the last two years and the COVID-19 resultant disruption to the global supply chain has really accelerated this decision – where companies such a Google, Microsoft, Sony, Apple amongst others have moved to India, Indonesia, Vietnam and other Asian regions; providing these countries billions of dollars in potential new export revenues.
TRADESHIFTS is a series of events, discussions, policy and advocacy engagements focused on providing Sri Lankan businesses the opportunity to attract a portion of the shifting trade estimated at over a $ 150 billion over the next 4 to 5 years.
As phase 1 of this project; a USAID-funded project through its Partner Team, has conducted an analysis and produced a report on a macro view of the global supply chain shifts and its opportunity to Sri Lanka. The report, authored by experts from Deloitte Consulting, provides an informed view on the likely future shifts in supply chain strategies across the short and medium-term, while identifying the drivers of such shifts and highlights the implications for a country like Sri Lanka.
The report will be presented by the authoring experts at the launch of TRADESHIFTS, on 14 October via a hybrid international event.