Strengthening ties at EDB

Daily Mirror - 02/09/2013

The Sri Lanka Export Development Board (EDB) celebrated its 34th anniversary recently. As a part of its anniversary celebrations, the formation of an Ex-EDB Employees society titled ‘Ex-EDB Employees Sansadaya’ was proposed, to strengthen the ties between the present and past employees of the EDB. The inaugural meeting and the get-together of the ‘Sansadaya’ was held on 23 August at the Cey-Nor Seafood Restaurant, Colombo, with the participation of present and past employees of EDB

Israeli Trade delegation upbeat on investment prospects in Sri Lanka

Asian Tribune - 31/08/2013

A high end Israeli Trade delegation consisting of approx. 25 delegates from diverse sectors such as agriculture, dairy, the high tech industry, defence, insurance and water management sectors is currently visiting Sri Lanka in order to explore potential scope for collaboration between the two countries. The trade delegation which arrived on 26th August is led by Ambassador Sarath Wijesinghe, Sri Lanka’s Ambassador to Israel.

The objective of organizing the visit by the Sri Lanka Embassy in Israel with the assistance of the Export Development Board, the Chambers of Commerce and the Israel –Asia Chamber of Commerce in Israel was to highlight Sri Lanka’s comparative advantages as well as the variety of investment incentives available in the priority sectors of the Sri Lankan economy. This visit is also timely since there has been considerable growth in bilateral economic relations between Sri Lanka and Israel with trade doubling to US $ 158.35 million last year.

H.E. the Ambassador Sarath Wijesinghe addressing the distinguished gathering at the inauguration of the event at the Grand Oriental Hotel stated that Sri Lanka is a stepping stone to the sub-Continent for Israeli investors and invited the Israeli entrepreneurs to make use of the emerging status of Sri Lanka as a hub in the region. Mr. Ajith Nivard Cabraal, Governor of the Central Bank who was the Keynote Speaker at the inauguration commented on the strength of Sri Lanka’s macro fundamentals and stated that the time is right to invest in Sri Lanka. Later in the day many leading Sri Lankan businessmen availed themselves of the business networking facilities with the Israeli trade delegates which were offered to them after the inaugural event concluded.

The delegation is expected to call on Minister of Irrigation & Water Resources Management Hon. Nimal Siripala de Silva, Minister of Agriculture Hon. Mahinda Yapa Abeywardena, Minister of Economic Development Hon. Basil Rajapaksa and Mr. Gotabhaya Rajapaksa, Secretary of the Ministry of Defence & Urban Development will visit the Board of Investment and other Government Institutions later on in their visit.

Negotiations on bilateral cooperation of Belarus and Sri Lanka held at business forum

The delegation of Sri Lanka is interested in export of certain Belarusian goods such as sugar, tires and oil products. The heads of the states agreed on setting up joint ventures.
Joel Selvanayagam, the chair of the group of companies (Sri Lanka): "We have enormous potential and technologies. By uniting them we can advance our economies".

The visiting card of Sri Lanka is tea and it is going to set up logistics centers on the territory of the Customs Union. Numerous agreements were signed during the business forum including the Memorandum on cooperation between the National Center of Marketing and the Council of Export Development of Sri Lanka.

Bilateral cooperation of Belarus and Sri Lanka discussed during governmental meeting

The President of Sri Lanka Mahinda Rajapaksa and the Prime Minister of Belarus Mikhail Myasnikovich confirmed the mutual interest in such aspects as mechanical engineering, high technology, education, construction and tourism.

And right after the meeting in the Government House, the officials joined the business circles of the two countries. Multiple agreements, among which is the cooperation agreement between the National Center for Marketing and Price Conjuncture of the Ministry of Foreign Affairs of Belarus and the Export Development Board of Sri Lanka, were signed within the framework of the business forum.

Facets 2013, Sri Lanka’s Premier International Gem & Jewelry Show begins on August 29, 2013

International Gem and Jewelry News

In accordance with the popular slogan “Come September Come Facets” the 23rd version of Sri Lanka’s premier International Gem & Jewelry Show, Facets 2013, eagerly awaited by all stakeholders in the international gem and jewelry trade and industry, is due to be held from August 29th to September 1st, 2013, at the usual venue, the Sirimavo Bandaranaike Memorial Exhibition and Convention Centre, part of the complex of buildings associated with the Bandaranaike Memorial International Conference Hall (BMICH), situated along Bullers Road, Colombo. The show is organized by the Sri Lanka Gem & Jewelry Association (SLGJA) and co-sponsored by the National Gem & Jewelry Authority (NGJA) of Sri Lanka and the Sri Lanka Export Development Board (SLEDB).

The show will be held in the two large octagonal-shaped convention halls of the exhibition center, the main hall being reserved for the display of precious and semi-precious gems and the second hall allocated to jewelry, lapidary and other machinery used in the gem and jewelry industry. Around 200 exhibitors both local and foreign are due to be accomodated in both halls. The ceremonial opening of the show will be held at 9.00 a.m. on August 29, 2013 and the show will be open to visitors from 9.30 a.m. to 6.00 p.m. on August 29, and on the remaining three days August 30 to September 1, from 10.00 am to 6.00 p.m 

Facets 2013 promises to be bigger and better than ever before, with hundreds of local and foreign exhibitors getting ready to showcase their gem and jewelry products and a large number foreign trade delegations due to visit the exhibition. A strong showing by the emerging markets of China, Russia and India is expected apart from the traditional markets of the United States and Europe. Besides this, arrangements have been made for the participation of more than 50 small and medium scale enterprises (SME). According to Juzar Adamaly, Chairman Facets 2013, the SME sector plays a vital role within the entire gem and jewelry industry and is a major component of the industry that hopes to achieve the ambitious target of US$ 1 billion export revenue by the year 2016. 

Events organized in parallel to the exhibition include seminars and discussions conducted by international and local experts in the gem and jewelry industry; daily jewelry fashion shows, combining trendsetting fashion with fine jewelry, adding glamour and excitement to the show and a jewelry design competition, being organized for the third successive year, with the design theme “the story of the wind” and the overall winner being offered an all-expense paid trip to attend the 53rd Bangkok Gem & Jewelry Show in Thailand. Among the facilities that will be provided for exhibitors at the show, are shuttle services from most of the leading hotels; on-site custom formalities; gem testing facilities provided by the National Gem & Jewelry Authority; clearing and forwarding facilities for exports; travel desks for arranging tours for visitors if requested; restaurant facilities at the exhbition site and an on-site Facets Secretariat co-ordinating all activities throughout the duration of the show.

Sri Lanka's Jaffna peninsula seeks more trade and investment

Lanka Business Online - 18/08/2013
By Anushika Kamburugamuwa

Sri Lanka’s northern Jaffna peninsula, which has emerged from a 30-year civil war, has untapped potential for greater investment and trade officials said.

"We welcome all the new businesses and investments," K Pooranachandran, president of the Jaffna chamber of commerce and industry said.
"We are here to help them. The place is very conducive for businesses and new developments."

The Jaffna peninsula, which has a population of about 600,000 population, is now looking up businesses in the area linking with other areas in the island.

"Trade links have developed strongly," Pooranachandran said. "There is a very good link with Colombo and Jaffna.

"If you come to Jaffna you can buy anything you want. Anything is available in Jaffna."

He said Jaffna has seen strong economic growth helped by major infrastructure projects in the area. Tourism has also developed fast.

However officials say the war affected area can also export out of the country.

"The area remains a virtually untapped market for exports," Sujatha Weerakoon, director general of Sri Lanka's Export Development Board said.

"Jaffna is good for agro related business, so lot of value addition can be done in food processing in order to cater to the increase demand for agro goods in the island and world."

She was speaking at the launch of Jaffna international trade fair (JITF) 2014 to be held for the fifth consecutive year.

The fair is to be held at the Duraiappah Stadium in Jaffna on from January 17 to 19, next year.

The exhibition will features the construction industry, hospitality industry, food, beverages and packaging, automobiles, ICT industry, financial services, apparel, agricultural, consumer goods.

Organizers say they expect over 250 local and international businesses to participate in fair. Last year over 50,000 people had visited the fair.

There will be several business forums, an investment forum and an education exhibition. Visiting business leaders are expected to form links with local enterprises. They also expect the participation from the diaspora.

"The area has a high cash flow where at least one member of the family or relations is living in overseas," Aasim Mukthar , general manager of Lanka Exhibition and Conference Services which is running the event said.
"The mobile penetration is also high due to lack of fixed connection in the area. So Jaffna is an ideal place to explore new businesses."

FACETS expects record SMEs

FACETS 2013 to attract larger crowds this year

Over 50 Small and Medium Eenterprises (SMESs) will take part in FACETS Sri Lanka 2013, the international gem and jewelry exhibition, according to the organizing committee. Organized by the Sri Lanka Gem and Jewelery Association (SLGJA), this year’s event held for its 23rd year, will be held from August 29 to September 1 at the Sirimavo Bandaranaike Memorial Exhibition Center.

FACETS 2013 not only provides ample opportunity for local businesses to showcase their capabilities to participating delegation from around the world, but also creates strong networking, knowledge sharing and skill enhancing opportunities for the SME sector enterprises. Local manufacturers will be able to acquire knowledge on technology, process, best practices and the importance of maintaining industry quality standards right throughout the event.

Juzar Adamaly, Chairman FACETS 2013 said, “The SME sector plays a vital role within the entire gem and jewelry industry. It is also a major component to the entire industry with targets to achieve US$ one billion export revenue by 2016. The government has also introduced a loan scheme to the SME sector further understanding the importance of nurturing quality businesses and products”.

The organizers have planned to display precious and semiprecious gems as well as an exclusive hall dedicated to jewelry, lapidary and machinery items. Knowledge sharing sessions include a series of seminars conducted by international and local panelists this year. Organizers will be providing shuttle services from most of the hotels and travel desks to arrange tours for visiting delegation, customs on site, National Gem and Jewellery Authority Gem testing and assaying facilities and services like clearing and forwarding facilities for exports and individual security to booths through our official security surveillance providers Securo Dynamics.

In the 2003 Budget, the Government of Sri Lanka declared Sri Lanka Gem and Jewellery Association (SLGJA) as the Apex industry body and charged it with a leadership role to formulate industry-level strategies to increase productivity and competitiveness. Since then, the Association works closely with the government’s National Gem and Jewellery Authority and the Sri Lanka Export Development Board to advocate national policy and give input for the industry’s regulatory framework. Currently, SLGJA has over 350 members who together account for over 75 percent of the country’s gem and jewelry exports.