Foreign buyers sought for Expo 2012

Ravi LADDUWAHETTY

Industry and Commerce Minister Rishad Bathiudeen, addressing the Expo 2012 launch called on the diplomatic community to solicit the participation of foreign buyers.

He said, it would make a significant contribution towards transforming Sri Lanka.

The Expo 2012 would be held on March 28, 29 and 30, 2012 at the BMICH under the theme: "Partnering with the hub of Asia." An official website- www.srilankaexpo.com was also launched on Tuesday night.

"I request all of you gathered here today to assist the Sri Lanka Export Development Board in organising this event in particular the Heads of Foreign Missions in Sri Lanka, to solicit the participation of buyers from your countries. I strongly believe that this event will make a significant contribution, in the transformation of Sri Lanka, as an important economic centre. I cordially invite you all to be partners in this process," the Minister said.

"As you all are aware, our exports are growing steadily. The total value of exports has increased from US dollars 7.1 billion in 2009 to US dollars 8.3 billion in 2010. The target set is US dollars 15 billion for 2015 and US dollars 20 billion in 2020. I am confident that the holding of the Sri Lanka Expo 2012, will contribute towards achieving the set export targets," he said.

Meanwhile, Export Development Board Chairman Janaka Ratnayake said that Expo 2012 would be carried out with participation of all public and private sector inclusive of Chambers, Product Associations, Business Councils, Foreign Missions, Members of Export Associations, BOI and Banks.

"We invite you to join with EDB in this national endeavour and to be a partner in our country's march to be 'Wonder of Asia," he said.

The theme will be in line with the Government's plan to transform Sri Lanka into a strategically important economic centre by developing five strategic hubs in Knowledge / Commercial, Naval / Maritime / Aviation and Energy, taking advantage of its strategic location and resources. Explaining the economic highlights, he said in 2010 Sri Lanka economy grew by 8 percent, the first quarter of 2011 recorded 8 percent growth projecting 8.5 percent in 2011, exports grew by 21 percent in 2010 and the 35 percent during first half of 2011 would certainly surpass the US$ 10 billion for 2011.

He said that at present, nearly 60 percent of our exports are absorbed by EU (38 percent) and USA (22 percent).

Diversification of export markets therefore, improves the resilience of the economy to external shocks. The recent trends in global growth patterns underscore the availability of untapped markets particularly within emerging Asia; BRIC African countries, he said.