Private sector delegation led by Minister Rishad explores biz opportunities in Antwerp

Minister of Industry and Commerce, Rishad Bathiudeen, accompanied by the Sri Lanka private sector business delegation on a two day official visit to Belgium, last week also visited several business enterprises in Antwerp – the commercial hub of Belgium. The visit of the private sector delegation was coordinated by the Sri Lanka Export Development Board.

Minister of Industry and Commerce Rishad Bathiudeen (third from left at left side) leading the Sri Lankan delegation, meets the Antwerp Chamber of Commerce team (at right).

Welcoming the Sri Lanka delegation Antwerp Chamber of Commerce CEO Luc Luwel briefed them on the attractive business environment in Antwerp and the potential it offers for furthering economic ties between Belgium and Sri Lanka.

A detailed presentation about Antwerp and its importance as a trade hub which serves 60% of Europe was made by Chamber Manager of International Affairs Jill Suetens.

Minister Bathuideen addressing the Chamber representatives highlighted Sri Lanka’s historical relations with the city of Antwerp, particularly in the context of the diamond trade and seaport operations.

He said there is considerable scope for expansion in both these areas, as well as on others, judging by the growing interest that the Belgian Companies have shown to do business with Sri Lanka.

Sri Lanka Export Development Board (SLEDB) Director General Sujatha Weerakoon, briefed the Chamber representatives on EXPO 2012, the premier exhibition to be held in Colombo from 28-30 March 2012, highlighting the trade and investment opportunities in the country and facilities extended to overseas participants attending this event.

Weerakoon, and senior management representatives of Aloy Expo (Pvt) Ltd, Selta (Pvt) Ltd. Sierra Power (Pvt) Ltd, EW Information Systems Ltd (E-wis), Laugfs Holdings Ltd, Haylex Ltd., Thambapanni  Cocos (Pvt) Ltd., Lanka Metals Company Ltd. and Andrew’s Travels accompanied the Minister in these meetings.

The delegation visited the World Diamond Centre in Antwerp and had a productive exchange of views with Vice President Philippe Barsamaian and the senior officials of the Diamond Centre, where they discussed the future potential in the diamond trade with Sri Lanka.

Antwerp accounts for 80% of the rough diamond trade and 50% of the cut and polished diamonds in the World.

More than 1800 firms are located in Antwerp’s diamond district representing almost all the world’s leading diamond manufacturers and wholesalers.  Concentrating on the importance of the diamond trade with Belgium, the Minister emphasised the potential for further expansion given the considerable expertise in Sri Lanka for cutting and polishing diamonds.

The delegation also visited a leading Belgium logistics operator NOVA NATIE at the Antwerp port. The group generates a consolidated annual turnover of approximately 120 million Euros. The company briefed the delegation on the possibility of Sri Lankan exporters availing of their expertise in channeling exports across Europe.

The delegation also made an inspection tour of the Trade Mart, the trade centre of importers and distributors in Belgium, where local and foreign companies renting space, have access to 44,000 retail outlets in the country. It was viewed as a concept that could be applied in Sri Lanka as well.

The delegation was accompanied in these visits by Sri Lanka Ambassador to Belgium, Luxembourg and to the EU, Ravinatha Aryasinha, Minister (Commerce and Economic) of Sri Lanka Embassy in Brussels R. D. S. Kumararatne, and Consul of Sri Lanka in Belgium, Monique De Decker.