Sri Lanka Expo 2012:

Country to hold mega export show for int’l markets

Sri Lanka will be holding a mega export exhibition for international buyers in 2012 in Colombo.

“The Export Development Board will be launching the most anticipated event by all our exporters that is the “Sri Lanka Expo 2012” to be held in March 2012” said Industry and Commerce Minister Rishad Bathiudeen last week in Colombo.

At an exporter’s networking session hosted by the Export Development Board at the Cinnamon Grand Hotel, Colombo, Minister Bathiudeen said “Sri Lanka Expo 2012 milestone exhibition will showcase Sri Lanka’s new export capabilities to international buyers.” He said: “An approach of sustained diversification will ensure new market opportunities to Sri Lanka.”

According to the Central Bank data, Sri Lanka’s export earnings showed the highest ever annual value of US $ 8.3 billion in 2010 (up 17.3 percent) while the export earnings in December 2010 alone recorded the highest ever monthly value of US $ 968 million. Export earnings in January 2010 increased sharply, up 72.4 percent to US $ 813.4 million from US $ 471.7 million a year ago.

Many private sector exporters cheered the 2012 move. G.E.L Silva, Managing Director of BoI firm GP De Silva and Sons Int’l, the BoI firm which netted US $ 18 million in forex revenues for Sri Lanka in 2010 said through its cinnamon basket, said, “This is a good initiative to take Sri Lanka’s message of competitiveness to the international markets. Of course, it depends on how effectively it would be organized and showcased.

On the sidelines, I get to save on my expenses for international fairs and exhibitions that I have to pocket out by myself.” Silva’s BoI firm is one of the largest private sector cinnamon exporters in Sri Lanka.