With $ 12.5 b target, Lanka ready for Expo 2012

By Cheranka Mendis

Sri Lanka’s export sector, looking at a revenue expectation of $ 12.5 billion this year, is hosting the country’s largest mega trade, investment and tourism promotion initiative Expo 2012 from 28-31 March at the BMICH.

Held under the theme of ‘Partnering with the Hub of Asia,’ the expo is being held after a lapse of 15 years with the last one being held in 1997.

With the export sector being tagged as the ‘growth factor of the country’ by EDB Chairman Janaka Ratnayake, the expo will present quality products and services of the industry to overseas buyers, visitors and investors as well as the local public.

Ratnayake noted that as at now 700 visitors had registered to attend the event, which would host a symposium, business-to-business meetings, networking sessions, industrial visits, a fashion show and a number of corporate events alongside the exhibition.

With the participation expectation being noted as 1,000, there has been registration of over 40 persons from USA, 50 from UAE, 45 from UK, 35 from Singapore, 40 from Japan, 150 from China, 40 from Malaysia, 30 from Korea, 25 from Pakistan and 125 from India, among other countries.



A 15-20 member delegation from South Asia Experts Group on Investment and Investment Policy Think Tank will also attend the event. In addition, ministerial delegations from strategic markets such as Maldives, Korea, China, UAE, India, Pakistan, Bangladesh and UAE are also said to be attending the event.

Invitations have been extended to a large number of foreign journalists as well, he said.

The exhibition will house stalls from 370 exporters of which 70 will be from the SME sector. The exhibition will not only focus on the seven key product segments identified by EDB for growth – apparel, tea, rubber, ICT/BPO, food and beverages, spices and allied products and gem and jewellery – but will span across a wide segment of 24 export sectors, Ratnayake said.



“The export sector is doing extremely well at the moment. After the 2009 setback, we have recovered well and achieved a remarkable performance of a 225 increase in 2011 over 2010,” he said.

Rat noted that the revenue from merchandising excluding services amounted to US$ 10.4 billion and when the service sector revenue is included, the number is likely to rise close to US$ 11 billion. “We have achieved our target for 2012 in 2011. This way we are confident that US$ 15 billion by 2015 is an achievable target.”

The Trade and Investment Symposium which will be held on 29 March and will present a number of industry experts and international keynote speakers covering salient topics such as advantages and facilitated process behind Sri Lanka’s conducive trade and investment climate, etc.

Among the personnel lined up for the symposium are ITC Geneva Deputy Executive Director Jean-Marie Paugam, Clazedonia SpA, Italy Chairman Dr. Sandro Venonesi covering investment, London Stock Exchange GM Mark Harries covering ICT, HSBC Global Head of Business Services Ian Ogilvie covering BPO, Strategic Initiatives Camoplast Solideal Canada VP Marc Guay for rubber, Gem Research Swisslab Gemmologist Dr. Adolf Pertti for gems, International Erosion Control Association Geosyntec Consultant Michael Harding, Friend of Sea Italy Founder and CEO Dr. Paolo Bray for fisheries, IPC Executive Director S. Kanan and Government of Dubai Department of Tourism and Commerce Marketing Executive Director K.D. Udaya Indraratne.

Coinciding with Expo 2012, the 10th meeting of the Joint Council under the US-Sri Lanka Trade and Investment Framework Agreement (TIFA) will be held on 27 March while three MOUs will also be signed.

The MOUs will be signed between the National Chamber of Commerce of Sri Lanka and Malaka Chamber of Commerce Malaysia, between EDB and Korea Import Association to promote trade and between Sri Lanka Foreign Employment Agency and K.I. Pengurusan Holiday SDN BHD in Malaysia.

Moreover, the US Embassy has organised a presentation on the US GSP programme and FDA Food Modernisation Act, while the Commonwealth Secretariat will hold a workshop on international investment agreement negotiations and an international trade related workshop on EU trade policy and its impact.