Saturday Nov 30, 2024
Saturday Nov 30, 2024
Saturday, 30 November 2024 00:10 - - {{hitsCtrl.values.hits}}
A delegation of 49 Sri Lankan small and medium-sized enterprises (SMEs) made a strong impact during the 19th China International Small and Medium Enterprises Fair (CISMEF), held from 15 to 18 November at the China Import and Export Fair Complex in Pazhou, Guangzhou. The event was organised by the Sri Lanka Export Development Board (EDB) in collaboration with the Industrial Development Board (IDB) and with the active facilitation of the Consulate General of Sri Lanka in Guangzhou.
The delegation represented key product sectors, including food and beverages, gem and jewellery, coconut-based products, lifestyle goods, spices, and garments etc.
The CISMEF 2024 proved to be a robust platform for SMEs, enabling them to connect with international buyers and potential business partners within mainland China and beyond. This marked the 9th consecutive year of Sri Lanka’s participation, demonstrating a consistent commitment to fostering SME growth through international trade exposure.
Participants gained invaluable insights into:
Technology upgrades: Observing the latest advancements in production techniques and sourcing equipment to enhance productivity.
Product development: Learning innovative approaches to packaging, quality standards, and market-driven product improvements
Export readiness: Understanding the complexities of entering export markets and leveraging opportunities cost-effectively.
The participating SMEs achieved immediate success, securing a spot sales value of $ 100,000 and confirmed export orders for cinnamon, coir products, and jewellery. Additionally, several promising business negotiations are in progress, showcasing the potential for long-term trade partnerships.
Delegates expressed gratitude to the EDB and IDB for organising the event, praising the opportunity to gain international exposure and market insights. One entrepreneur stated: “This event was a turning point for our business. The knowledge we gained on product standards and market entry strategies will help us improve and expand our exports.”
However, entrepreneurs highlighted challenges, particularly regarding the General Administration of Customs of China (GACC) registration. Many noted that obtaining this certification is critical for executing confirmed orders and expanding market access in China. The EDB pledged to continue their support and facilitation in addressing these challenges and strengthening SME capabilities in coordination with the Sri Lanka Embassy in China and the Consulate General Office in Guangzhou, China.
As the delegation looks forward to applying the lessons learned, their success at the CISMEF 2024 reinforces Sri Lanka’s potential to compete in global markets and contribute to the country’s foreign exchange earnings.
