Rubber industry targets US $ 5 bn mark by 2023
Plastic and Rubber Institute of Sri Lanka (PRISL) together with
Enterprising Fairs (India) Pvt. Ltd, plan on having a rubber related
exhibition on September 12, 13, 14, 2013 in Colombo. After the success
of PLASTEXPO in August this year Enterprising Fairs had come forward to
hold RUBEXPO providing a platform for local rubber related companies to
participate and experience the new technologies and talent available in
local and foreign market.
Secretary to the Ministry of Industry and Commerce, Anura
Chief Executive Officer, Enterprising Fairs India (Pvt)
Ltd, B. Swaminathan, Secretary PRISL, Saliya Udapitiya. Picture
Chief Executive Officer of Enterprising Fairs (India) Pvt. Ltd,
Swaminathan told Daily News Business that being the main organizers of
the event, they plan on providing a platform for the local and
international rubber markets to meet and interact. “Sri Lanka’s Rubber
industry has been marked as one of the main form of exports in Sri
Lanka, thus the exhibition will help many small and medium rubber
enterprises to meet up with people in the rubber industries of foreign
countries,” he said
Most of the people in the rubber sector cannot get first hand
experience through international expertise and the exhibition would be a
good opportunity. “We hope to have over 100 exhibitors both local and
international, they will exhibit under categories of rubber products,
materials and machines, it will also contain educational programmes that
will be of great importance to its visitors.
Swarminathan said that he is confident that RUBEXPO will be a success
as it is a land of opportunities, thus with the infusion of the latest
technology the country will be able to reach its target of increasing
production to 200,000 MTs by 2020 and thus be able to achieve the US $ 5
billion mark in 2023. “We see that Sri Lanka has a great potential to
increase export value,” he said.
Secretary of the Ministry of Industry and Commerce, Anura Siriwardena,
said Sri Lanka, presently is the sixth largest exporter of rubber to
which 20 % is raw rubber. It is also the eight largest natural rubber
producing country producing over 150,000 MTs rubber annually.
“Rubber registered 10.8 % growth rate while the GDP grew at 7.5 %.
Export of rubber products were growing steadily over the years to US $ 1
The future holds bright for the rubber industry, according to
Siriwardena as the ministry plans on expanding rubber cultivation in non
traditional plantation areas, while introducing modern technology for
processing as well as giving access to export markets for auto
industries in neighboring countries through joint ventures.