Govt. to hold Sri Lanka Expo in 2012 to boost exports

In a bid to boost exports the Government has decided to hold an international trade fair titled Sri Lanka Expo in 2012 in Colombo.

The Government’s decision was announced on Thursday night by Industry and Commerce Minister Rishad Bathiudeen at a ceremony to felicitate exporters who participated at the recently concluded Export Bazaar in Colombo.

 “The Export Development Board will be launching the most anticipated event by all our exporters – that is the ‘Sri Lanka Expo 2012’ – to be held in March 2012,” announced Bathiudeen.

Toasting an exporter’s networking session hosted by the Export Development Board at the Cinnamon Grand Hotel, Colombo, Minister Bathiudeen said: “Sri Lanka Expo 2012 milestone exhibition will showcase Sri Lanka’s new export capabilities to international buyers.”

He stressed: “An approach of sustained diversification will ensure new market opportunities to Sri Lanka.”

According to the Central Bank data, Sri Lanka’s export earnings showed the highest ever annual value of US$ 8.3 billion in 2010 (up 17.3%) while the export earnings in December 2010 alone recorded a highest-ever monthly value of US$ 968 million.

Export earnings in January 2010 increased sharply, up 72.4 per cent to US$ 813.4 million from US$ 471.7 million a year ago.

“As a country we have collective responsibility to mobilise our national resources to design an optimal basket of exports that will carry Sri Lanka towards the envisioned export target of $ 20 billion by 2020 – and even beyond.

In this endeavour our success will depend on finding new markets while at the same time effectively diversifying our export products.



In fact, such an approach of sustained diversification will ensure new market opportunities to Sri Lanka,” Minister Bathiudeen said.

“I wish to extend my special appreciation to the export community of Sri Lanka for their untiring efforts to maintain our export volumes during the difficult decades that passed. Sri Lanka therefore is now positioned well to face the new dynamics and challenges in the emergent globalised environment.

“With concerted efforts to improve our competitiveness, I believe we will be able to achieve our international trade ambitions. In this context, the strategic plan launched by the Export Development Board with the help of the relevant stakeholders will play a crucial role to propel Sri Lanka towards the envisioned goal.

“I therefore believe that hosting the mega Expo 2012 event is a step in the right direction especially to realise the vision of the President to make Sri Lanka the Wonder of Asia. The 2012 event will be a very innovative occasion that will attract considerable number of new and potential buyers from around the world.  It will undoubtedly expand your export trading opportunities and increase the export revenues as well.”

Many private sector exporters cheered the 2012 move. G.E.L Silva, Managing Director of BOI firm G.P. De Silva & Sons International, which netted US$ 18 million in forex revenues for Sri Lanka in 2010 through its cinnamon basket, said: “This is a good initiative to take Sri Lanka’s message of competitiveness to the international markets. Of course, it depends on how effectively it would be organised and showcased. On the sidelines, I get to save on my expenses for international fairs and exhibitions that I have to pocket out by myself.”

Silva’s firm is one of the largest private sector cinnamon exporters in Sri Lanka.