' Cinnamon To The World' event streaming live on "www.cinnamontotheworld.com/events.php" at 3.00 p.m. Sri Lankan Time
Sunday, January 26, 2014
Biz delegation from Hong Kong to visit SL in April
Lanka Business Today - 25/01/2014
In a new breakthrough after a year from the first ever successful Hong Kong-Sri Lanka biz MoU in 2013, some Hong Kong based manufacturers are now looking to move factories to Sri Lanka and a high powered biz delegation from HK is now scheduled to arrive in early April.
”The first ever business development MoU between Hong Kong Trade Development Council (HKTDC) and the Export Development Board (EDB) was a tremendous success and some Hong Kong based manufacturers are looking to move factories to Sri Lanka. A delegation led by none other than the Deputy Executive Director of HKTDC Ms Margaret Fong is scheduled to arrive in early April for the next level in this process. Some HK manufacturers have already expressed interest to set up production in Sri Lanka, especially in garment and food, as well as handicraft and sunshine industries. Tentatively, there will be 20 delegates from 15 companies in the forthcoming delegation. We are also helping some Sri Lankan exporters to find HK markets and importers,” said Sunny Chau, Regional Manager, HKTDC Southeast Asia and India, on January 21 in Colombo.
Chau, on a three-day visit to Colombo, was leading a three-member delegation for preparation-cum-awareness sessions for interested Sri Lankan business on the forthcoming early April B2B sessions between Hong Kong’s HKTDC delegation and Sri Lankan businesses.
April’s delegation leader, HKTDC’s Ms Margaret Fong, has wide experience in international trade. She served as the Deputy Director-General in the Washington DC Economic & Trade Office of the Hong Kong Government.
Total bilateral trade between China and Sri Lanka in 2012 stood at US$ 2,676 million of which US$ 2,568 million consisted of imports to Sri Lanka. FDIs (Private investment inflows, equity, profit and inter-corporates excluding mega project funding and loans for them) from China to Sri Lanka in 2012 totalled US$ 185 million. Hong Kong is ‘the most globalized economy’ in terms of trade, according to Earnst & Young. HK is also the gateway to the complex Chinese marketplace.
In a new breakthrough after a year from the first ever successful Hong Kong-Sri Lanka biz MoU in 2013, some Hong Kong based manufacturers are now looking to move factories to Sri Lanka and a high powered biz delegation from HK is now scheduled to arrive in early April.
”The first ever business development MoU between Hong Kong Trade Development Council (HKTDC) and the Export Development Board (EDB) was a tremendous success and some Hong Kong based manufacturers are looking to move factories to Sri Lanka. A delegation led by none other than the Deputy Executive Director of HKTDC Ms Margaret Fong is scheduled to arrive in early April for the next level in this process. Some HK manufacturers have already expressed interest to set up production in Sri Lanka, especially in garment and food, as well as handicraft and sunshine industries. Tentatively, there will be 20 delegates from 15 companies in the forthcoming delegation. We are also helping some Sri Lankan exporters to find HK markets and importers,” said Sunny Chau, Regional Manager, HKTDC Southeast Asia and India, on January 21 in Colombo.
Chau, on a three-day visit to Colombo, was leading a three-member delegation for preparation-cum-awareness sessions for interested Sri Lankan business on the forthcoming early April B2B sessions between Hong Kong’s HKTDC delegation and Sri Lankan businesses.
April’s delegation leader, HKTDC’s Ms Margaret Fong, has wide experience in international trade. She served as the Deputy Director-General in the Washington DC Economic & Trade Office of the Hong Kong Government.
Total bilateral trade between China and Sri Lanka in 2012 stood at US$ 2,676 million of which US$ 2,568 million consisted of imports to Sri Lanka. FDIs (Private investment inflows, equity, profit and inter-corporates excluding mega project funding and loans for them) from China to Sri Lanka in 2012 totalled US$ 185 million. Hong Kong is ‘the most globalized economy’ in terms of trade, according to Earnst & Young. HK is also the gateway to the complex Chinese marketplace.
More than 800,000 metric tons of fruits, veggies by Lanka
The Island - 24/01/2014
By Don Asoka Wijewardena
Sri Lanka produces more than 800,000 metric tons of fresh fruit and vegetables annually while around 90 per cent of her processed food is being exported to the European Union market.
In addition, Sri Lanka is utilizing improved techniques in crop cultivation, especially under poly tunnels. Optimum input application, pest and disease control, post-harvest management and quality packaging are other features of our food production sector, Export Development Board Directoress Jeevani Siriwardena said.She was addressing joint talks between Maldives and Sri Lankan business delegations earlier this week.
Siriwardena added that Sri Lanka had received quality certificates, such as, ISO 22000,ISO 9001: 2000,ISO 14001, Halal, Kosher, SKAL, BRC, FDA and Global GAP for export products in the form of footwear and leather, sea food, ceramics, coir products, ornamental fish, fruits and vegetables, boat/ship building, plastic products, horticulture, activated carbon, printing, toys and gifts, wooden products and electrical and electronics goods.
By Don Asoka Wijewardena
Sri Lanka produces more than 800,000 metric tons of fresh fruit and vegetables annually while around 90 per cent of her processed food is being exported to the European Union market.
In addition, Sri Lanka is utilizing improved techniques in crop cultivation, especially under poly tunnels. Optimum input application, pest and disease control, post-harvest management and quality packaging are other features of our food production sector, Export Development Board Directoress Jeevani Siriwardena said.She was addressing joint talks between Maldives and Sri Lankan business delegations earlier this week.
Siriwardena added that Sri Lanka had received quality certificates, such as, ISO 22000,ISO 9001: 2000,ISO 14001, Halal, Kosher, SKAL, BRC, FDA and Global GAP for export products in the form of footwear and leather, sea food, ceramics, coir products, ornamental fish, fruits and vegetables, boat/ship building, plastic products, horticulture, activated carbon, printing, toys and gifts, wooden products and electrical and electronics goods.
Thursday, January 23, 2014
Exports surge by 6.2% in 2013
The Island - 23/01/2014
Sri Lanka’s exports, which suffered a YoY decline of 7% in 2012, returned with a bang in 2013 posting a 6.2% surge. "I and EDB thank our exporters for their commitment for this strong performance" a Ministry of Industry and Commerce press release quoted Minister of Industry and Commerce Rishad Bathiudeen as saying.
The release adds: ‘Minister Bathiudeen was acknowledging the latest provisional annual export performance numbers briefed to him by his officials on January 22 in Colombo.
‘According to the latest provisional figures by the EDB, 2013 cumulative exports earnings stood at $ 10379.94 Mn, growing by 6.2% from 2012’s annual export revenues of $ 9773.63 Mn.
‘High performing export ‘drivers’ were agriculture products, apparels, ‘other export crops’, and even industrial products, thereby contributing to the turnaround.
‘Surging along were the tea and fisheries products sectors.
‘On a YoY basis from ’12 to ‘13, agriculture products grew by 10.3% to $ 2479.94 Mn, apparels by 13.31% to $4492.20 Mn, other export crops up by 42.9% to $ 521.43 Mn, and industrial products rose by 4.91% to $ 7618.20 Mn.
‘Tea surged YoY by 9.22% to $1526.75 Mn and fisheries products rose by 19.14% to $ 244.43 Mn.
‘While rubber, unclassified products, petroleum, gems and jewellery showed a slight decline, manufacturing and coconuts showed very minute percentages of decline while largely staying stable.
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Rishad Bathiudeen Minister of Industry and Commerce- (right) and Bandula Egodage Chairman-EDB, (left) upbeat on latest good news. |
The release adds: ‘Minister Bathiudeen was acknowledging the latest provisional annual export performance numbers briefed to him by his officials on January 22 in Colombo.
‘According to the latest provisional figures by the EDB, 2013 cumulative exports earnings stood at $ 10379.94 Mn, growing by 6.2% from 2012’s annual export revenues of $ 9773.63 Mn.
‘High performing export ‘drivers’ were agriculture products, apparels, ‘other export crops’, and even industrial products, thereby contributing to the turnaround.
‘Surging along were the tea and fisheries products sectors.
‘On a YoY basis from ’12 to ‘13, agriculture products grew by 10.3% to $ 2479.94 Mn, apparels by 13.31% to $4492.20 Mn, other export crops up by 42.9% to $ 521.43 Mn, and industrial products rose by 4.91% to $ 7618.20 Mn.
‘Tea surged YoY by 9.22% to $1526.75 Mn and fisheries products rose by 19.14% to $ 244.43 Mn.
‘While rubber, unclassified products, petroleum, gems and jewellery showed a slight decline, manufacturing and coconuts showed very minute percentages of decline while largely staying stable.
Lanka coir now used by Mercedes Benz -EDB
The Island - 23/01/2014
Sri Lankan coir has grabbed the attention of a leading global automotive firm. "I am happy to say that our coir is now used by Mercedes Benz. This is the first time we learn that our coir have gone to such high levels" said a pleased Sujatha Weerakoone, Director General of EDB on January 22.
EDB Director General Weerakoone was addressing "Exporting to Korea" event, organised and held at the EDB. The session was honoured by a 16 member strong South Korean undergrad delegation led by Prof. Bell C.J. Park of Myongji University, South Korea, who made a presentation. Also in attendance were more than 100 reps from various Sri Lankan exporters.
"Korea is the 15th largest economy in the world with a high per capita exceeding $ 27900. At the moment our total trade with South Korea is around $ 380 Mn" said EDB Director General Weerakoone, and added: "Sri Lanka’s share of imports to South Korea are very low but we have great opportunities-their well developed automotives need our high quality rubber and coir. I am happy to say that our coir is now used by Mercedes Benz. This is the first time we learn that our coir have gone to such high levels. Also there are potentials for our apparels and electric and electronic parts sector in the Korean market."
In 2021, Sri Lanka exported $2.2 Mn of coir pads and $ 8.1 Mn of coir ropes. Germany ranked as the third largest buyer of Lankan coir pads. In 2012, total trade with South Korea stood at $366 Mn. Apparel was the dominant export item from Sri Lanka, taking 30% of total exports earnings from South Korea in 2012. 11% of Sri Lanka’s exports to South Korea in 2012 were coir fiber, ranking third export product to South Korea behind apparel and industrial and surgical gloves.
Sri Lankan coir has grabbed the attention of a leading global automotive firm. "I am happy to say that our coir is now used by Mercedes Benz. This is the first time we learn that our coir have gone to such high levels" said a pleased Sujatha Weerakoone, Director General of EDB on January 22.
EDB Director General Weerakoone was addressing "Exporting to Korea" event, organised and held at the EDB. The session was honoured by a 16 member strong South Korean undergrad delegation led by Prof. Bell C.J. Park of Myongji University, South Korea, who made a presentation. Also in attendance were more than 100 reps from various Sri Lankan exporters.
"Korea is the 15th largest economy in the world with a high per capita exceeding $ 27900. At the moment our total trade with South Korea is around $ 380 Mn" said EDB Director General Weerakoone, and added: "Sri Lanka’s share of imports to South Korea are very low but we have great opportunities-their well developed automotives need our high quality rubber and coir. I am happy to say that our coir is now used by Mercedes Benz. This is the first time we learn that our coir have gone to such high levels. Also there are potentials for our apparels and electric and electronic parts sector in the Korean market."
In 2021, Sri Lanka exported $2.2 Mn of coir pads and $ 8.1 Mn of coir ropes. Germany ranked as the third largest buyer of Lankan coir pads. In 2012, total trade with South Korea stood at $366 Mn. Apparel was the dominant export item from Sri Lanka, taking 30% of total exports earnings from South Korea in 2012. 11% of Sri Lanka’s exports to South Korea in 2012 were coir fiber, ranking third export product to South Korea behind apparel and industrial and surgical gloves.
Korean University Students on Sri Lanka Tour
Asian Tribune - 23/01/2014
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Myongji University in Korea in collaboration with the Korea International Cooperation Agency (KOICA) and the Embassy of Sri Lanka in Korea, will be sending a student delegation to Sri Lanka from 20th – 27th January, 2014.
The delegation consists of Professor Bell J.C. Park, a faculty member of the International Trade Department of the Business Administration College at Myognji University, and 15 university students whose major interest is international trade business.
The objective of the visit is to promote greater understanding through enhancement of economic, educational, technical and cultural cooperation between students of Korea and Sri Lanka. On the first day of their stay in Sri Lanka, the delegation will visit Sri Lanka’s KOICA and KOTRA offices as courtesy calls for the country representatives. Additionally, the Korean students will get an opportunity to visit two of Sri Lanka’s universities, University of Colombo and University of Peradeniya, for the purpose of exchanging cultural experiences and discussing the possibility of signing a Memorandum of Understanding between the Sri Lankan universities and Myognji University.
The Export Development Board of Sri Lanka has arranged an interactive session with its member companies along with a progamme to educate the Korean students about exportable products of Sri Lanka. In addition to meeting the Export Development Board, the delegation will visit the Ceylon Chamber of Commerce and the National Chamber of Commerce as an opportunity to build a stronger relationship with the Sri Lankan chambers.
Prior to their departure to Sri Lanka, the delegation met the Sri Lankan Ambassador to South Korea, Mr. Tissa Wijeratne,at the Sri Lanka Embassy in Seoul.
Myongji University in Korea in collaboration with the Korea International Cooperation Agency (KOICA) and the Embassy of Sri Lanka in Korea, will be sending a student delegation to Sri Lanka from 20th – 27th January, 2014.
The delegation consists of Professor Bell J.C. Park, a faculty member of the International Trade Department of the Business Administration College at Myognji University, and 15 university students whose major interest is international trade business.
The objective of the visit is to promote greater understanding through enhancement of economic, educational, technical and cultural cooperation between students of Korea and Sri Lanka. On the first day of their stay in Sri Lanka, the delegation will visit Sri Lanka’s KOICA and KOTRA offices as courtesy calls for the country representatives. Additionally, the Korean students will get an opportunity to visit two of Sri Lanka’s universities, University of Colombo and University of Peradeniya, for the purpose of exchanging cultural experiences and discussing the possibility of signing a Memorandum of Understanding between the Sri Lankan universities and Myognji University.
The Export Development Board of Sri Lanka has arranged an interactive session with its member companies along with a progamme to educate the Korean students about exportable products of Sri Lanka. In addition to meeting the Export Development Board, the delegation will visit the Ceylon Chamber of Commerce and the National Chamber of Commerce as an opportunity to build a stronger relationship with the Sri Lankan chambers.
Prior to their departure to Sri Lanka, the delegation met the Sri Lankan Ambassador to South Korea, Mr. Tissa Wijeratne,at the Sri Lanka Embassy in Seoul.
Wednesday, January 22, 2014
Maldives-Sri Lanka, 'a unique friendship'
The Island - 23/01/2014
By Don Asoka Wijewardena
Head of the Maldivian delegation Quasim Ibrahim addressing business entrepreneurs at the Maldives-Sri Lanka interactive business session on Tuesday said that the Maldives and Sri Lanka had been enjoying a unique friendship born of traditional ties in ethnicity, language and culture. These bonds signified historical ties that date back hundreds of years. The relationship had been served well by geographic proximity, frequent travel and brisk trade.
The session was organized by the Sri-Lanka Maldives Bilateral Business Council in association with the Ceylon Chamber of Commerce and was held at the Hilton.
He pointed out that diplomatic relations between the two countries were established on July 26, 1965 - the date of independence of the Maldives. The Maldives and Sri Lanka were the founding members of the South Asian Association for Regional Cooperation (SAARC). Bi-lateral cooperation agreements existed in a variety of fields, including education, defense, air services, cultural cooperation, visa and consular matters, economic and technical cooperation, science and technology, seafaring and intelligence sharing.
Ibrahim emphasized that the vision of the Maldivian government would be to become a high income, resilient and inclusive economy by laying the foundation to diversify the economy to new sectors and industries. The government had formulated a policy to establish free trade and economic zones and to diversify the financial services sector through the development of a modern legal regime for financial services; attracting international banks and other financial institutions; building reputation of Maldives financial services and attracting investment funds/ venture capital.
Sri Lanka Export Development Board Directress Jeevani Siriwardena said that the key economic targets of Sri Lanka would be a sustained progress towards US $ 100 billion economy and US $ 4,000 per capita income by 2016.
The Gross Domestic Product (GDP) contributions included 59 per cent from services, 11 per cent from agriculture and 30 per cent from Industry.
She pointed out that the Sri Lanka's export growth had reached an upward trend in fairly recent times as it had increased from US $ 6,000 million in 2005 to US $ 9,000 million in 2012. It had also contributed to 20 per cent of the GDP.
Siriwardena added that Sri Lanka's export markets in 2013 had captured 24 per cent in the United States following Netherlands 2 per cent, France 2 per cent, Singapore 2 per cent, Iran 2 per cent, UAE 2 per cent, Japan 2 per cent, Russian Federation 3 per cent, Germany 4 per cent, Belgium 5 per cent Italy 5 per cent, India 5 per cent and the United Kingdom 10 per cent.
She said that bilateral trade between Sri Lanka and Maldives had been growing rapidly in the midst of competitive markets in the region. Sri Lanka's main exports to the Maldives included processed food, insulated wires and cables, fresh fruits and vegetables, confectioneries and bakery products.
By Don Asoka Wijewardena
Head of the Maldivian delegation Quasim Ibrahim addressing business entrepreneurs at the Maldives-Sri Lanka interactive business session on Tuesday said that the Maldives and Sri Lanka had been enjoying a unique friendship born of traditional ties in ethnicity, language and culture. These bonds signified historical ties that date back hundreds of years. The relationship had been served well by geographic proximity, frequent travel and brisk trade.
The session was organized by the Sri-Lanka Maldives Bilateral Business Council in association with the Ceylon Chamber of Commerce and was held at the Hilton.
He pointed out that diplomatic relations between the two countries were established on July 26, 1965 - the date of independence of the Maldives. The Maldives and Sri Lanka were the founding members of the South Asian Association for Regional Cooperation (SAARC). Bi-lateral cooperation agreements existed in a variety of fields, including education, defense, air services, cultural cooperation, visa and consular matters, economic and technical cooperation, science and technology, seafaring and intelligence sharing.
Ibrahim emphasized that the vision of the Maldivian government would be to become a high income, resilient and inclusive economy by laying the foundation to diversify the economy to new sectors and industries. The government had formulated a policy to establish free trade and economic zones and to diversify the financial services sector through the development of a modern legal regime for financial services; attracting international banks and other financial institutions; building reputation of Maldives financial services and attracting investment funds/ venture capital.
Sri Lanka Export Development Board Directress Jeevani Siriwardena said that the key economic targets of Sri Lanka would be a sustained progress towards US $ 100 billion economy and US $ 4,000 per capita income by 2016.
The Gross Domestic Product (GDP) contributions included 59 per cent from services, 11 per cent from agriculture and 30 per cent from Industry.
She pointed out that the Sri Lanka's export growth had reached an upward trend in fairly recent times as it had increased from US $ 6,000 million in 2005 to US $ 9,000 million in 2012. It had also contributed to 20 per cent of the GDP.
Siriwardena added that Sri Lanka's export markets in 2013 had captured 24 per cent in the United States following Netherlands 2 per cent, France 2 per cent, Singapore 2 per cent, Iran 2 per cent, UAE 2 per cent, Japan 2 per cent, Russian Federation 3 per cent, Germany 4 per cent, Belgium 5 per cent Italy 5 per cent, India 5 per cent and the United Kingdom 10 per cent.
She said that bilateral trade between Sri Lanka and Maldives had been growing rapidly in the midst of competitive markets in the region. Sri Lanka's main exports to the Maldives included processed food, insulated wires and cables, fresh fruits and vegetables, confectioneries and bakery products.
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