SLEDB and HKTDC organise seminar for Sri Lanka’s businesses and entrepreneurs

The Hong Kong Trade Development Council (HKTDC) and Sri Lanka Export Development Board (EDB) jointly organised a business seminar on ‘Explore Business Opportunities through Hong Kong’ on Friday, 29 September at the Galle Face Hotel.

The objectives of this seminar were to create awareness amongst the business fraternity in Sri Lanka about various trade opportunities offered through the HKTDC platform, outline ways through which Sri Lankan companies could expand or reach out to international markets, focus on the gifts and premium houseware products to give Sri Lankan companies an insight into new opportunities via the HKTDC trade platform, impart value additions such as providing marketing opportunities, business matching services, market intelligence as well as SME development programs that help Sri Lankan businesses take the next step towards international business opportunities.  

Further, the seminar gave an overview of the Belt and Road initiative which will provide connectivity via infrastructure, industrial cooperation, financial integration, etc. and hence strongly connect these Belt and Road countries from East to West.  

Peter Wong - HKTDC Regional Director of South East Asia and South Asia and Rajesh Bhagat - HKTDC Consultant, South Asia highlighted the international trade opportunities and practical assistance that HKTDC can offer Sri Lankan businesspeople. 

Established in 1966, HKTDC is a statutory body dedicated to promoting Hong Kong’s trade. Its mission is to explore opportunities for Hong Kong companies, especially small and medium-sized enterprises (SMEs), and connect them with business partners around the world. 

As Hong Kong is Asia’s most popular city for international businesses, there are many advantages of doing business with Hong Kong. It is one of the world’s most competitive locations with dynamic people and cosmopolitan lifestyles. Further, Hong Kong is a preferred entry point to China for businesses with a simple and competitive tax system, world-class infrastructure and leading international financial centres.   

In 2016 Sri Lanka earned export income of $ 152 million from Hong Kong and the main export products came from the sectors of apparel (21%), gems (19%), processed foods (17%), tea in bulk, electrical and electronic products, woven fabrics, electrical transformers, lobsters, etc. The import of Hong Kong products such as woven fabrics (50%), telecommunication equipment, audio video equipment and parts, apparel, textile articles buttons, studs, fasteners and similar products totalled a value of $ 466 million. 

Further, Sri Lanka has identified potential products to Hong Kong such as residues and wastes of the food industry, animal fodder, copper and articles, edible fruits, nuts, peel of citrus fruits, melons, meat, fish and seafood, food preparations, glass and glassware, sugars and sugar confectionery, etc.  

The EDB has signed a Memorandum of Understanding (MOU) with HKTDC in 2015 and there were several market development activities implemented under this MOU. The purpose of this MOU was to establish a framework of cooperation to promote economic growth, encourage business development, enhance trade promotion activities and strengthen the economic partnership between Sri Lanka and Hong Kong. The existing MOU will be renewed this year in Hong Kong for a further two years. 

The EDB is making arrangements to upload 100 profiles of Sri Lankan companies on the HKTDC website using this MOU.

As a follow-up to these programs, the EDB wishes to arrange Sri Lanka’s participation in ‘Hong Kong Gift & Premium Fair – 2018’ with select Sri Lankan companies.