WEDF is a rare opportunity for Sri Lanka: Rishad

The hosting of the 16th World Export Development Forum (WEDF) in October in Colombo will be a rare opportunity for Sri Lanka, Industry and Commerce Minister Rishad Bathiudeen declared last week.

“WEDF is a rare opportunity for the Sri Lankan export sector to highlight its brand portfolio to the visiting international trade experts right here in Colombo. In fact, it is not only an opportunity to highlight our export portfolio, but also a highly viable FDI call opportunity for us,” the Minister said at the WEDF launch ceremony in Colombo..

The 16th in the WEDF series –the first WEDF to be held in Colombo- was clinched for Colombo under Minister Bathiudeen’s directions during WEDF 2014 held in Kigali, Rwanda. 

Colombo’s WEDF ’16 is themed “Trade for Success: Compete, Connect, Change” and reflects the importance attached by both the GOSL and ITC to the role of the private sector in growth, trade and job creation. WEDF 2016 will also feature focused B2Bs among participating corporates and businesses from Sri Lanka and abroad. Teams from ITC Geneva and Australia’s AusTrade are now in Colombo to start a support program aimed at Lankan women entrepreneurs.

Minister Bathiudeen joins with Minister of International Trade and Strategic Development Malik Samarawickrema and his top officials, State Minister of International Trade Sujeewa Senasinghe, Executive Director of Geneva’s International Trade Centre Arancha Gonzalez, Lankan business leaders, and members of the diplomatic community, among others.

 “The successful trade effort of a country is a result of many factors. More importantly it is a fundamental pillar of nation branding. There are many opinions on nation branding and its relevance to export success. I believe that WEDF is a rare opportunity for the Sri Lankan export sector to highlight its brand portfolio to the visiting international trade experts right here in Colombo. “

He said WEDF can highlight that despite shifting comparative advantages there are special advantages that Sri Lanka still has that supports its engagement with international supply chains-for example our strategic geographic location. 

“We know that Sri Lanka was a key port of call in the historic silk route. Colombo port has been a “must stop” destination connecting the shippers of west and east. But today we are not just a hub sitting at the southern end of the Indian sub-continent.  We have achieved South Asia’s main shipping hub status as well” said Minister Bathiudeen.

 “According to World Shipping Council rankings Colombo port is Ranked 33 among top 50 container ports and as per Alpha Liner Research, Colombo is ranked as 27th container port in the world. The World’s top twenty shipping lines play a huge role in global trade taking 87 % of global shipping to be handled by these top twenty global shipping lines.  I am pleased to say that all the top twenty shipping lines call on Colombo port on a regular basis.  In fact Colombo has become South Asia’s topmost ‘container transshipment’ hub.  

The reason for Colombo’s shipping prominence is not only due to being located at the Southern Indian sub-continent but also being located along one of the busiest shipping routes in global trade. Colombo is yet another hub port that is on the 10000-mile long historic Rotterdam-Singapore shipping route. For example, as a result of this connectivity, our world class apparel sector succeeded in maintaining highly competitive logistic costs and is able to overcome the continuously changing comparative advantages. What is equally important is that this location’s advantage also gives us to boost our service exports. The strong and continued air connectivity to Colombo from Europe and US, fast Visa processing to Colombo, and twenty four hour seven day telecom and IT connectivity using SEA-ME-WE cable to the world, are some geographic related factors that results in our growing reputation as an IT/BPO outsourcing destination with the presence of international outsourcing firms such as HSBC, RR Donnelly, and WNS. 

“ I am confident that both the local and international media present here will extend their valuable support to take WEDF 2016 message everywhere. I commend ITC Geneva and Minister of International Trade and Strategic Development Malik Samarawickrama for their joint efforts to develop Lankan trade using the WEDF global platform,” Minister Baithudeen said.