Spice, allied products turnover to reach US$ 500 mn by 2015

Daily News - 19/11/2013
By Indunil Hewage 

The demand for value added cinnamon products such as cinnamon leaf oil, bark oil, crushed cinnamon and ground cinnamon for confectionery and other food related industries has increased in the world. Sri Lanka is planning to double cinnamon export earnings by increasing value addition of cinnamon.

Sri Lanka is the largest supplier of cinnamon exports to the world spice market, producing about 85% of international output. However, Sri Lanka ranks well below in value added cinnamon exports to the world market. Other competitor countries make huge profits by adding value to cinnamon exported from Sri Lanka, while Sri Lanka is losing profit due to exporting more raw cinnamon.

“The annual spice export contribution to the total GDP is only around 0.5 % and plans are underway to enhance export income from spice exports to 10 % of the Gross Domestic Product (GDP) by 2022 with foreign donor funding.

In a bid to enhance spice exports, it is important to introduce new crop types, improve productivity and quality, enhance value addition and by- product development, research and development, explore new market opportunities, products valuation and processing activities and others.” Ministry of Minor Export Crop Promotion senior official told Daily News Business.

EDB Chairman and CEO Bandula Egodage told Daily News Business that spices especially cinnamon exports are performing well and Sri Lanka is the topmost exporter of cinnamon, producing about 85% of international output. “We are currently working on obtaining the certification for Geographical Indication Process (GIP) for cinnamon.

This will help us to consolidate our position in the global market”, he said. 

Ministry of Economic Development of the Democratic : Reflection of Sri Lanka International exhibition from November 13 to 17

4-traders.com
By Dharman Wickremaratne

The exposition on Trade, Tourism and Investment titled 'Reflection of Sri Lanka' is set to take place in parallel with the Commonwealth Heads of Government Meeting (CHOGM), in November 13 to 17, 2013 at the Battaramulla Ape Gama premises(Jana Kala Kendraya). This event would be the biggest of its kind, happening in Sri Lanka, with the registered participation of 520 exporters under one roof, accommodating 968 stalls.

Reflection of Sri Lanka International Exhibition on Trade, Tourism and Investment organized by the Ministry of Economic Development and Ministry of Industry and Commerce together with Export Development Board(EDB), Sri Lanka Tourism Promotion Bureau and the Board of Investment(BOI).



300 exporters have been chosen by the EDB to showcase their products in 355 stalls while 200 export-oriented SMEs have been allocated 100 stall in the vicinity under a separate SME sector corridor. Earlier markings noted 25 machinery exporters to be given 36 stalls and 82 tourism-related parties to have 100 stalls, while over 200 more were allocated  for international technology providers. Foreign representatives of importers from 70 countries are set to grace the event, paving way of a golden opportunity for potential exporting parties to attract potential investors.

With the anticipation of 700 registered foreign participants of the Commonwealth Business Forum, this is set to reach a total of 1300 with local attendance to the exposition. At a glance, it is estimated that up to 2500 foreign nationals will attend, making this one of the largest crowds ever to attend this landmark event, in Sri Lanka.

The trade stalls will concentrate on seven key sectors - tea, apparel, gem and jewellery, spices, food, rubber, products and ICT/BPO. Buyers are expected from India, China, Canada, UK, UAE, Iran, Philippines, Egypt, Pakistan, Singapore and Seychelles, with buyer delegations with national representation expected from China, India, South Africa and Iran.

The event, which will be held on a nine acre land, has instigated an informative and visible array of Sri Lanka's main crops adjacent to its relevant featuring stall in the form of a mini tea plantation, coconut, cinnamon and other spices, ayurvedic herbs, rubber etc.
The site will be preserved continuously after the conclusion of the exposition.

The Board of Investment (BOI) have also instigated a one-stop shop or 'Investment Centre' for the sole purpose of catering towards interested investors who can acquire relevant project information with regard to potential business projects in Sri Lanka, whilst assisting those interested parties in all aspects of immediate and convenient registration. The BOI is set to promote more than 55 Government related and large-scale projects to participants of the forum.

Anuga Exhibition from 5th to 9th October 2013 in Cologne, Germany

Asian Tribune - 10/11/2013

Anuga Exhibition from 5th to 9th October 2013 in Cologne, Germany

The Anuga Exhibition is the most important platform for the food business held in Cologne. This year, 6777 exhibition stands catered to the public, and more than 150 000 trade visitors from 187 countries were present to check out the actual trends in the food business.

The Minister of Industries and Commerce of Sri Lanka, Rishad Bathiudean, accompanied by Ambassador of Sri Lanka in Germany, Mr. Sarath Kongahage, and the Consul General of Sri Lanka in Frankfurt, Mr. Pradip Jayawardana, opened the Sri Lanka representation with 41 Sri Lankan companies exhibiting high quality Sri Lankan products such as tea and other export products.

Anuga Exhibition from 5th to 9th October 2013 in Cologne, Germany

15 of the Sri Lankan companies exhibiting at the Anuga were represented in the National Pavilion organized by the Sri Lanka Export Development Board. 8 companies represented the Sri Lankan tea in the Tea Board pavilion. 18 companies visited the Anuga by their own efforts, most of them operating in the tea export business. Many companies reported a good level of ordering activity. One company spokesperson also said that the participants generally expect the post-fair business to be fairly good.

There were many inquiries about Sri Lankan products in the course of the exhibition. The exhibiting companies reported many intensive discussions with high-level decision-makers. The new trends identified at the exhibition are modifications of the daily life style and eating habits. Companies have to focus more on freshness, taste, nutrition and sustainability of their products. Another trend is a focus on high quality and organic food products.

Lanka’s export revenue to reach US$ 11 billion mark

Daily News - 08/11/2013
By Indunil Hewage

Sri Lanka’s total export revenue is expected to reach US$ 11 billion mark by the end of this year, Export Development Board Chairman and CEO Bandula Egodage said

-“This is not an easy task, but we hope to reach the $ 11 billion export revenue mark by end of this year. As of September our total export value for 2013 is recorded at US$ 7314 million, which is a 1.07% increase in comparison to the same period in 2012. Our exports are now gradually strengthening despite the international market challenges. We have also set an export target of US$ 15 billion by 2015 and $ 20 billion by 2020. Apparel and tea exports currently account for over 40% and 20% of total exports from Sri Lanka respectively.

Apart from tea and apparel, spices, fishery products diamonds, gem and jewellery and other industrial products are performing well,” Egodage told Daily News Business Commenting on the cinnamon exports, Egodage noted, “spices especially cinnamon exports are performing well and Sri Lanka is the topmost exporter of cinnamon, producing about 85% of international output. We are currently working on obtaining the certification for Geographical Indication Process (GIP) for cinnamon. This will help us to consolidate our position in the global market.”

Egodage also added, “I’m confident that the upcoming budget will offer incentives to Sri Lankan exporters enabling them to be competitive in the global market. I’m a firm believer that the government will extend support to Sri Lankan exporters who bring valuable foreign exchange to the country.” 

SL-B’desh mull formulating PTA

Daily Mirror - 05/11/2013

Sri Lanka and Bangladesh will begin formulating a preferential trade agreement (PTA) between the two countries subsequent to the completion of the Commonwealth Heads of Government Meeting (CHOGM), with a view to developing into a free-trade agreement (FTA) in future, according to Bangladesh High Commissioner to Sri Lanka Mohammad S. Rahman.

“The current quantum of bilateral trade between Sri Lanka and Bangladesh is still relatively low at approximately US $ 9 million.

However, there is a lot of potential to improve this figure. We hope to establish a PTA once the CHOGM is completed, which can eventually be developed into a fullyfledged FTA in future,” he stated.

Rahman stated that a Working Group on Trade had already been formed between Sri Lanka and Bangladesh, adding that a PTA would be part of the Bangladeshi government’s continued efforts to increase intra-regional trade with its neighbours.

Emphasizing that the formation of a list of items to be given preferential treatment has still not commenced, he nevertheless stated that tea and rubber are potential Sri Lankan exports that could receive such concessions, while pharmaceutical exports from Bangladesh are also being considered.

He stated that the proposed PTA and eventual FTA between the two countries would be formulated along the lines of the South Asian Free Trade Agreement (SAFTA) and initially consists of alterations to the ‘sensitive list’ or negative list of items.

“Ultimately it will have to be the exporters and consumers in our markets who decide the actual terms of the agreement,” he added.

Additionally, Rahman stated that steps would also be taken to improve co-operation between Sri Lankan and Bangladeshi ports, potentially including a Memorandum of Understanding between the new Magampura Mahinda Rajapaksa Port and Bangladesh’s Chittagong Port.

“There are a lot of synergies that can be achieved that can be achieved in the shipping sector, particularly since about 80 percent of Bangladesh exports are first shipped to Singapore, of which a large majority is then shipped back West.

If Sri Lanka can improve its port efficiency, then there is a lot of potential to develop maritime links between our nations for mutual benefit,” Rahman observed.

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