Boat Show 2012 to showcase building expertise

Sanjeevi JAYASURIYA

The boat building industry in Sri Lanka will continue to grow and needs to find new markets to sustain the momentum.

Boat Show 2012 showcasing local boat building capabilities to be held for three days from May 18 will be an ideal opportunity for industrialists to capture new markets and build linkages. The show will display latest products and new designs in the industry while creating a platform for knowledge sharing and networking, Boat Building Technology Improvement Institute Managing Director Gamini B. Herath told Daily News Business.

The Commerce and Industries Ministry and the Export Development Board (EDB) will continue to extend their support this year too by way of organizing and pre-promotional activities, he said.

The EDB will carry out international promotional work mainly focusing on the regional markets where the declining growth in the European market is a major concern for the industry.

We will focus attention on regional markets such as India, Pakistan, the Maldives, Bangladesh and the Middle East. Though China is not a major buyer at present we expect it to be a growing market. It has plans to set up marinas by 2015 and with it we see opportunities to supply material as China is a large-scale boat manufacturer," he said.

China is looking at expanding its boat building industry and as a regional market this will provide lucrative businesses for local manufacturers.

The Boat Show will be a launching pad to promote businesses in the Asian region. A boating conference will be held on May 19 with few international experts to share knowledge and experiences on a global perspective.

The escalating fuel prices are a drawback for the industry and the recession in Europe will also slow down the growth. However, we are confident that the growth will come from active regional markets where more demand is generated for commercial transportation than leisure activities, he said.

"The country's leisure sector records growth where whale-watching and other leisure activities contributed by the surge in the tourism industry have a positive impact on the boat building industry. We could see a sizable improvement in the leisure and pleasure markets," Herath said.

The three-day Boat Show is expected to attract over 44 companies including exhibitors from the Maldives, India and Pakistan.

The boat building industry recorded US $ 124 million export revenue for last year, a growth of nearly 100 percent over 2010.