India seeking mutual benefit through strengthening of Indo-SL FTA

The Island - 26/01/2015
By Zacki Jabbar in Jaffna

India says it is looking to strengthen the Indo-Lanka Free Trade Agreement in a manner that would be mutually beneficial to both countries.

The Consul General of India in Jaffna, A.Natarajan who was the Chief Guest at the opening ceremony of the  sixth edition of the Jaffna International Trade Fair (JITF) held at the Jaffna Library on Friday said that with an ever increasing number of  Indian companies doing business with Sri Lanka, it would be an opportune time to strengthen the Indo-Lanka FTA, which if tapped to its true potential would serve both nations well.

With  around fifty percent of the  exhibitors who participated in JITF 2015 being Indian affiliated, he assured the presence of   more industrialists and entrepreneurs from his country at next  years edition of the event. "I will  encourage more of our    businessman to  individually or in partnership with their Sri Lankan counterparts invest in the Jaffna Peninsula."

Top European trade delegation in Sri Lanka to initiate US$ 8 million project

A top European trade delegation has arrived in Sri Lanka to formulate a trade-related capacity building project, which will enhance the overall performance of the export sector of Sri Lanka.

The proposed US$ 8 million project, which is scheduled to implement from 2016, will be funded by the European Union, the Minister of Commerce and Industries Rishad Bathiudeen said.

"This latest initiative matches very well with our new government's vision and a great start! Therefore on behalf of the President Maithripala Sirisena, I extend our thanks to the EC (European Commission) for interacting very quickly with us in this event as well as all our trade initiatives and issues," the Minister said addressing the delegation.

Apparel industry will maintain growth momentum

Sunday Observer - 25/01/2015 
By Sanjeevi Jayasuriya

Sri Lanka’s apparel industry has shown continuous growth over the years, Joint Apparel Association Forum, General Secretary Tuly Cooray told Sunday Observer Business.

An export centric agenda and a favourable policy framework will pave the way for the apparel industry to maintain the growth momentum while retaining the number one slot in export revenue generation, he said.

The industry will be in a position to achieve the targeted export value for last year. Exports for the first eleven months of the year recorded a value of US $ 4,302.4 million. The target set for 2014 was US $ 4.8 billion.

Munchee largest exporter of biscuits in Sri Lanka

Daily FT - 23/01/2014

Munchee, the flagship brand of Ceylon Biscuits Ltd (CBL) the nation’s premier food and confectionery manufacturer, reaffirmed its leadership as the largest exporter of biscuits in Sri Lanka. Munchee accounted for more than 70% of the country’s export according to Mclloyd Business Intelligence.

The Conglomerate’s global footprint covers seven continents and over 55 markets.
Munchee routinely participates at all the major trade fairs and exhibitions such as Anuga, Sial, Gulfood and many others. Noteworthy amongst them is their recent participation at Foodex in Japan, the largest annual food and beverage tradeshow in Asia, and at the Hotel Asia exhibition in the Maldives.

Leading gem firms showcase at Japan's IJT Fair

Daily News - 23/01/2015

Leading gem and Jewellery exporters from Sri Lanka will participate at Japan's largest international jewellery, which begins in Bigcity in Tokyo today. This event is known as IJT International Jewellery Fair 2014.

The wide variety of products in the jewellery industry will be showcased under one roof, which is in the world trend-setting city, Tokyo.

IJT is the largest jewellery trade show in Japan and is a gateway to expand business in Japan and the Asian region is expected to participate with local gem business persons, which will be held from today to January 25 at the Tokyo Big Sight, Gem and Jewllery Authority sources said.

JITF 2015 to enhance northern economy

Daily Mirror - 22/01/2015

The Jaffna International Trade Fair (JITF), the most comprehensive and ‘looked forward to’ exhibition in the North, will be held for the sixth consecutive year in the heart of Jaffna from January 23-25, 2015. The exhibition, which was the first of the kind to be held in the northern region of the country in 2002, has throughout the years been renowned as the best and most potent platform for the meeting of investors, businesses and the masses in the region.JITF 2015 will also comprise over 270 stalls from various sectors including construction, hospitality, food beverage and packing, automobile, ICT, financial services, apparel, agricultural, consumer goods and many others along with an education pavilion named ‘Kalvi’ with some of Colombo’s and Jaffna’s most sought-after education service providers exhibiting.

Apparel exports top US$ 4.3 b upto Nov 2014

Daily News - 19/01/2015

The value of Sri Lanka’s total apparel exports for the first 11 months last year reached US$ 4302.4 million, registering 11% per cent growth. In 2013, Apparel exports had generated US$ 3876 million during the period January to November.

Joint Apparel Association Forum (JAAF) Secretary General M.P.T. Cooray, speaking to Daily News Business said the industry had set a target of reaching US$ 4.8 billion by the end of 2014. “If we can have an export figure of US$ 400 million in December, we can presume we are well within the target for 2014. The industry is also expecting to achieve US$ 8.5 billion apparel exports by 2020 , nevertheless ,the industry needs to record 12% per cent growth rate Year on Year to achieve this target.”