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The Chinese audience at Sri Lanka Trade, Investment and Tourism Promotional Program held on 11 September
Despite being a small player, Sri Lanka has become a reliable and quality supplier of value-added goods to global markets while emerging as a reliable exporter of premium rubber and Sri Lanka’s exports to China have increased by 70%.
“Sri Lanka has done well to expand its trade from historical commodities to value-added products. Despite being a small player in global trade, Sri Lanka has positioned itself as a reliable and quality supplier of value added goods,” said Minister of Industry and Commerce Rishad Bathiudeen on 11 September in Nanning, China, addressing the Sri Lanka Trade, Investment and Tourism Promotional Program held on the sidelines of CAEXPO13 at Nanning International Convention & Exhibition Center.
Sri Lanka was among the 15 Chinese and ASEAN high profile countries joining the CAEXPO 13. Nanning’s well-attended Sri Lanka Investment Promotion was organised by the Department of Commerce of Sri Lanka.
Bathiudeen added: “The Industry and Commerce Ministry has been crucial in driving the Sri Lanka industrial sector to improve upwards in the value-added chain. For example, in such a competitive export sector as apparel, Sri Lanka has established itself as a reliable, ethical, innovative and green supplier among larger global players. It is home to globally recognised firms and has become the preferred source for leading global brands, such as Victoria’s Secret, GAP, Next, Tommy Hilfiger, Ralph Lauren, Calvin Klein, Nike and Abercrombie & Fitch.
“While Sri Lanka’s top five markets remain the US, UK, and EU, for the period 2010 to 2015, China has been the number one market in terms of growth, with exports to China up by over 70%. Sri Lanka has also developed its reliability as an exporter of premium rubber and rubber-based products. China, of course, I believe, is fully aware of the quality of Sri Lanka’s rubber, having entered into what was probably one of the earliest trade agreements in modern times, the Rubber Rice Pact of 1952, under which Sri Lanka exported rubber to China in exchange for rice. Since then, Sri Lanka has travelled far in terms of developing this industry, particularly focusing on value-added, premium products.
“We are now the largest exporter of high quality industrial solid tyres in the world, and manufactures for some of the world’s leading brands, including Goodyear, Continental Tyre, Wonder Grip, and MAPA, and are expanding into other products including pneumatic tyres, rubber gloves, surgical gloves, and natural rubber. Sri Lanka is also well established in several sectors in terms of quality and reliability in Sri Lankan gems, particularly the famous blue sapphire. Also Ceylon Cinnamon or true cinnamon which is indigenous to Sri Lanka, fish, and horticultural products. Sri Lanka continues to diversify into many different sectors, such as ceramic products, electrical products, furniture, herbal products, plastic products, footwear, and handloom products.”
