Tuesday Nov 19, 2024
Tuesday Nov 19, 2024
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Closely following China and Turkey’s upgrading of their expo partnership with Sri Lanka is the world’s biggest oil giant moving to invite Sri Lanka for its topmost international industry event.
“Our friendship is historic. Now we want to strengthen this historic friendship towards better trade and industrial cooperation as well. We invite a high level Sri Lankan industrial delegation to this year’s international level INNOPROM expo event in Russia,” said Konstantin Kosachev, the visiting Head of the Federal Agency for the Commonwealth of Independence States-Russia (who is also a Special Advisor to Russian President on CIS Countries) last week.
Kosachev, who was decorated with the Order of Friendship (Russia) and was an assistant for International Affairs of the three Russian Prime Ministers, was addressing Rishad Bathiudeen, Minister of Industry and Commerce of in Colombo. Kosachev was meeting Bathiudeen to seek Lanka’s support in Russia’s bid for hosting the Expo 2020 which is to be decided by the Bureau of International Expositions in Paris.
“We invite a high level Sri Lankan industrial delegation to our international INNOPROM expo event this year. the INNOPROM annual event is Russia’s leading industrial and innovation event of international scale and this year too, it’s held in Ekaterinburg in July. This year’s theme is ‘Global Industry,’” said Kosachev.
“In Russia, Sri Lanka is already known for its tea but not much for other industries, especially manufacturing. This event could open new opportunities for Sri Lankan manufacturing in the Russian market,” he added.
The 2012 INNOPROM held in Russia’s fourth largest city Ekaterinburg (also called Yekaterinburg) saw 38 foreign delegations from 32 countries and also Russian Prime Minister Dmitry Medvedev in attendance.
Among the global corporate giants attending the event in Russia – the no. 1 oil producing economy in the world – were Siemens AG (the global electronic and electric engineering giant), TMK (Russia’s largest manufacturer of steel pipes), the Scania Group (global truck manufacturer), Siempelkamp Group (suppliers and installers of foundries, nuclear technologies and plant engineering) Formika (International Industrial Design Forum), and KÄRCHER GmbH (the global heavy machinery firm).
Leading industrialised nations such as USA, China, UK, and Germany were strongly represented. Globally reputed industrial design firms and design leaders (such as iPhone and other product designers from Apple Inc) addressed the parallel conference sessions. This will also be the first-ever national level participation by Sri Lanka at Russia’s leading global international industrial event.
According to the Department of Commerce of Sri Lanka, trade between Sri Lanka and Russia has been growing significantly since the disintegration of the former Soviet Union in 1991. The total trade between the two countries, which stood at US$ 212 million in 2007, reached US$ 353.2 million in 2012. The balance of trade has continuously been in favour of Sri Lanka.
Russia directly absorbed about 15% of Sri Lanka tea exported in 2012. The second biggest export to Russia is apparels. Among imports from Russia to Sri Lanka are mineral/chemical fertilisers, semi-finished products of iron, asbestos, synthetic rubber and newsprint, etc.
“We thank you for the invitation to INNOPROM. Being a historic friend to Sri Lanka, we strongly consider such Russian events,” said Bathiudeen. “The bilateral trade level at $ 353 m shows that there is strong potential to expand trade volumes and the basket. Exchange of trade delegations between both countries as well as taking part in promotional events such as INNOPROM can help us in this regard,” he added.
Also taking part during the session were officials of the Department of Commerce under Bathiudeen and officials of Colombo Russian Centre, including the Director of the Centre A.M. Nazarkin.
