Sri Lankan companies have gained more than 28 business leads, about 15 business alliances, joint venture opportunities coupled with market exposure, and studying new trends in technology and innovation by participating in the exposure visit cum business matchmaking programs to Malaysia and Singapore for the electronics and electrical sector organised by Sri Lanka Export Development Board (EDB) in collaboration with High Commissions of Sri Lanka in Malaysia and Singapore from 16-21 July.
The participating companies are hoping to finalise nearly $ 1.6 million worth of contracts with Malaysian and Singaporean companies by end 2019. In addition, they are expecting to sign joint ventures and supply components and equipment to leading Malaysian and Singaporean companies in the electronics and electrical sector in the near future.
This program has generated tremendous opportunities for the electronics and electrical sector companies in Sri Lanka to understand the capabilities of Malaysian and Singaporean counterparts and opportunities available in the electronics and electrical industry in these countries.
A comprehensive market study carried out by the Export Services Division of the EDB also revealed that there is a huge potential in Malaysia and Singapore for Sri Lankan electronics and electrical sector exporters to increase their presence in these two countries further.
The Sri Lankan delegation consisted of six medium to large scale Sri Lankan electronics and electrical sector companies. They were TOS Lanka, Kelani Cables, KIK Lanka, Frostaire Industries, T&G Lanka, and Hitech Solutions.
In Singapore, business matchmaking meetings were held at Singapore Business Federation (SBF), Singapore Manufacturing Federation (SMF), and Enterprise Singapore with the participation of large number of Singaporean Electronics and Electrical Sector companies and buyers.
In Malaysia, business matchmaking meetings were held at Malaysia External Trade Development Corporation (MATRADE), Federation of Malaysian Manufacturers (FMM) and Electrical and Electronics Association of Malaysia (TEEAM) with the participation of large number of Malaysian Electronics and Electrical Sector companies and buyers.
During the field visits in Malaysia, the Sri Lankan delegation visited Khind-Mistral Industries and TAMCO Switchgear (Malaysia).
Similarly, during the field visits in Singapore, the Sri Lankan delegation visited Rolls Royce and Wilson Cables.
The Sri Lankan delegation also visited “Tenaga Kuala Lumpur” Exhibition 2018, one of the leading trade fairs for the electricity and electronics industry in Southeast Asia.