Sri Lanka’s Consumer Electronics & Appliances Imports Showed Robust Growth during 2010 - 2011, but Slowed down in 2012

27th February 2013, www.news360.lk

Sri Lanka’s consumer electronics and domestic appliances imports have seen robust growth during the year 2010 and 2011, but has slowed down in the year 2012, with number of products recording a decline in imports both in value and quantity.

A study conducted by the Ceylon Chamber of Commerce says, the 2010 and 2011 growth was propelled by the overvalued exchange rate coupled with low interest rates and reduction in taxes applied for the importation of those goods.

The study says, the 2012 moderate growth was due to the sharp fall in the rupee, ceiling on credit and increased cost of borrowing.

The value of imports coming under the HS Chapter 84, which covers a large variety of machinery and parts, classified as investment goods in addition to consumer electronics and domestic appliances have recorded a 66% growth in 2011 and 19% in 2012.

“The growth in imports in this category reflects increasing demand for investment goods as well as demand for durable consumer electronics”, added the Chamber in a statement issued.

The Chamber says the expenditure on importation of electronic machinery and equipment coming under HS Chapter 85 has increased by 57% in 2011 and by 18% in 2012.

As a percentage of total imports, Chapter 84 has accounted for 8.2% and Chapter 85 has accounted for 6% in 2012.

The study finds that the decline in consumer electronic items imported in 2012 has been modest compared to the high rate of growth experienced during 2010 and 2011.

However, the Chamber says, the volume imported of most items in 2012 remains well above the annual average volume of imports during 2005-2009.

“For example the number of household type refrigerators imported increased by 267% in 2011 to reach 167,844 units. In 2012 although quantity imported declined by 26%, the volume of imports of 119,923 units is well above the average of less than 50,000 units per year imported during 2005-2009”, added the Chamber in its findings.

While most products analyzed in the report have recorded a decline in imports in 2012, few products have recorded an increase.

These are air conditioning machines, televisions and mobile phones.

During the year 2011, and 2012, items such as fans, rice cookers and mobile phones have exceeded 1 million units imported per year.

The items where imports exceeded 500,000 units per year in 2011 and 2012 are televisions, electric kettles, electric irons and fruit or vegetable juice extractors.

Items that have recorded imports in excess of 100,000 units a year during 2011 and 2012 are fans, household type refrigerators, portable computers, other types of computers, toasters and radio broadcast receivers.

Personal care electronic items such as shavers, hair clippers, hair removing appliances, hair dryers have recorded a modest growth over the years and the number of units imported of each item still remains below 50,000 units a year.

Related Info :
• Ceylon Chamber of Commerce Relaunches Enterprise, One of the Oldest Corporate Newsletters in Sri Lanka

• Ceylon Chamber of Commerce, CCC Completes 172 Years. The First Chamber Established in Sri Lanka

• Ceylon Chamber of Commerce Launches Directory of Members 2011-2012, Contact Information of All Main Sectors

Ceylon Chamber of Commerce, CCC Completes 172 Years. The First Chamber Established in Sri Lanka

24th March 2011, www.island.lk

It has been through British rule, independence, a thirty-year conflict and now peace, Sri Lanka’s oldest business chamber, the Ceylon Chamber of Commerce, celebrates its 172nd anniversary today.

The Ceylon Chamber of Commerce (CCC) the legendry institution in the Asia Pacific region, reaches another milestone on March 25, 2011 by completing 172 years of exemplary service to the business community in Sri Lanka.

When CCC was founded on March 25, 1839 under the British Rule, the Coffee industry took precedence over the current prime commodity ‘Tea’ which has now excelled as the leading export commodity in Sri Lanka. The agriculture based services provided by the CCC to its members, gradually elevated to value added services.

Over a period of years, CCC which plays a catalytic role in the development of the business sector, changed its focus on identifying key issues to assist in the development of strategic plans to meet new challenges and opportunities. With the close rapport maintained with the Government sector, the CCC continued to strengthen its role as a channel between the Government and the Private sector.

You may pose a question on how the CCC services differ from the other chamber services. Commencing from the aspect of its identity, CCC is the only Chamber in south Asia with BSENISO 9001:2000 quality Management System Certification and works towards its vision of being the Benchmark Chamber of Commerce in the Asia Pacific Region.

Another factor which adds to its credit is, it has been instrumental in the establishment of several key institutions such as the Employers Federation of Ceylon in 1927, The Mercantile Service Provident Society in 1939, The Sri Lanka Institute of Directors in 2000 and Indo Lanka Chamber of Commerce and Industry in 2006, to name a few.

The 21 Bi-lateral Councils covering Australia/New Zealand, Africa, Britain, Benelux, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Korea, Malaysia, Maldives, Nordic, Pakistan, The Middle East, Poland, Russia and Singapore which were formed by the Chamber and functions under the aegis of the CCC, focus mainly on promotion of trade, investment, joint ventures, tourism and services between Sri Lanka and the relevant country.

CCC, being the first Chamber to be established in Sri Lanka, is the prime mover of the Chamber movement in Sri Lanka. It was also the first Chamber to be represented in the Senate and House of Representatives in the days of Ceylon, first to be accepted as an affiliate member of Confederation of Asia Pacific Chambers of Commerce & Industry (CACCI) in 1983.

A few other services which were the first of its kind to be introduced by the CCC are the issuance of Certificates of Origin in 1925, introduction of e-Cos, Conduct of Commodity auctions (Tea, Rubber, Spices & Allied Products) from 1894, Gem Auctions in1980, services provided by Measurers/Surveyors/Assessors, Arbitration/Conciliation & Mediation services, the first Sri Lankan export exhibition was organized by the CCC in 1973, Initiated the First Export Awards scheme in association with the then Export Promotion Secretariat, Formation of Bilateral Business Councils in 1979, Launching of CSR awards in 2004, (Global Standard One) GS1 – which is the worldmost accepted standard for supply chain management - bringing Bar-coding Standards to Sri Lanka and the CCC is the sole authorized body in Sri Lanka to operate the GS1 Standards system.

Moreover, CCC has the unique feature of a Confederation of Chambers of Commerce and Industry, Trade Associations, Regional Chambers, Employer organizations and Bilateral Business Councils in Sri Lanka. The CCC claims this status having formed alliances with 20 Regional Chambers, 38 Trade/Product and service Associations and 21 Bilateral Business Councils.

The CCC Trade Fair Unit which was established in 2002 as the trade promotion wing of the Chamber, through Business Promotion Missions assists members to penetrate, diversify and establish links with overseas markets, whilst promoting expansion of trade and investment. Since its inception, the unit has led missions to 34 potential and untapped markets which have led to the participating delegates obtaining confirmed orders.

The SAARC Trade Information Project is jointly implemented by the SAARC Information Centre (SIC) and Germany Agency for International Cooperation (GIZ) in collaboration with twenty six leading national partners from both the private and public sectors in all eight SAARC nations. The Ceylon Chamber of Commerce is a national partner of the SAARC Trade Promotion Network and is the leading Network Partner of the Working Group SAARC Trade Information Portal (SAARC TIP). This portal is an easy accessible trade database for traders including SMEs by connecting existing databases within the SAARC countries to a common SAARC entry point for trade information.

The National Agribusiness Council is the latest affiliate of the Ceylon Chamber of Commerce and is housed at the Chamber premises – bringing yet another key aspect of the economy under our network.

The Ceylon Chamber also supports regional chambers to contribute more to the national economy - a key initiative taken in this regard is the regional Chambers meeting hosted at the Chamber, where regional issues are brought out and directed to the appropriate channels.

CCC having instituted CCC Solutions (Pvt) Ltd., which began on a firm foundation as a specialized arm to concentrate solely on projects, has been able to contribute immensely to enrich the overall profile of the Chamber. There are three main projects under the purview of this unit, two funded by the European Union and the other by the Norwegian Agency for Development Corporation (NORAD) programme.

The primary objectives of these programmes are to promote Sustainable Consumption and Production (SCP) in the Food and Beverage Sectors, assist the Hotel Sector in greening and the final one being Business Matchmaking with Norwegian companies. The CORE project (Connecting of Regional Economies) is a USAID project with CCC as the strategic partner to lead the workforce development strategy which was one of the five components structured under this very laudable initiative.

Youth Business Sri Lanka (YBSL) programme is the district expansion of the Hambantota Youth Business Trust (HYBT) which commenced in 1991. Implemented in 40 countries and modeled after the Youth Business International of UK, youth business programmes supports youth to be successful entrepreneurs.

Today the CCC comprises over 500 members with an outreach of over 3500 organisations covering the entire spectrum of the business community. CCC members enjoy a range of benefits. In addition to the above, the Chamber provides the following services:-

Secretarial services to sector associations

Registration of Commercial documents

Seminars/Workshops

Organising Trade Fairs/Exhibitions & events through its Event Management Unit

Trade information

Customised research reports

Business opportunities/Trade promotion bulletins

Economic information

Library facilities

Resolution of commercial disputes

CCC is spearheaded by Dr. Anura Ekanayake, Chairman, Susantha Ratnayake, Vice Chairman and Suresh Shah, Deputy Vice Chairman, Mr Jayampathi Bandaranayake, immediate Past Chairman and the Secretariat is led by Mr. Harin Malwatte, Secretary General/CEO and Alikie Perera, Deputy Secretary General, and is supported by a highly competent and qualified staff.

‘We invite our members and the business community to visit us and familiarize themselves with the range of services provided by us. To get an insight into what we provide, log on to our website www.chamber.lk," Mr. Malwatte stated.

The membership is open to all businesses registered in Sri Lanka. The present membership covers every field of business activity in Sri Lanka and every size of business from sole proprietorship, SMEs, conglomerates to the multinationals.

The Chamber of Commerce is unique in its history, its traditions, its credibility, its membership, its talent base, its potential and, most importantly, in the role it plays in the economy and contemporary Sri Lankan society.

Related Info :

• Ceylon Chamber of Commerce Seminar on Fruits & Vegetables Helps Small & Medium Agro Processing Enterprises

• British-Sri Lanka Chamber of Commerce Established in London

Ceylon Chamber of Commerce Seminar on Fruits & Vegetables Helps Small & Medium Agro Processing Enterprises

03rd February 2011, www.dailynews.lk

The Ceylon Chamber of Commerce (CCC) organized a very informative seminar focusing mainly on the fruits and vegetables sectors recently. Approximately 40 participants mainly from the agricultural sector and related service organizations attended the seminar.

This seminar was a follow-up of the Roundtable Forum on Small and Medium Agro-Processing Enterprises (SMAE) Development held in Malaysia last month at which IFCO Chairman Sarath De Silva, H J S Condiments Ltd Director A Pathirage and CIC Agribusiness Agri Education, Training and Consultancy for National Agriculture Development General Manager Senarath de Zoysa participated.

These three representatives shared the experience they gained at the forum with their fellow members. Sarath Silva who made the presentation spoke on the business models for procurement from small farmers, product innovation, differentiation, branding and labelling, quality management and compliance with standards, supply chain efficiency and logistics, enabling policies and public goods, financial services and the private sector support institutions such as commodity associations, Chambers of Agriculture and Commerce, Industry Federations etc.

Silva, Pathirage and De Zoysa agreed to assist those interested in aspects of modern training practices and any other advice relevant to the fruits, vegetables and agriculture sectors.

Image: From left - CSC Agribusiness (Pvt) Ltd Agri Education General Manager Senarath De Zoysa, the Ceylon Chamber of Commerce, Secretary General and CEO Harin Malwatte, IFCO Chairman Sarath De Silva and HJS Condiments Ltd, Director Ananda Pathirage.

Related Info :
• Natural Rubber Fetches over Rs 600 a Kg at Sri Lanka's Colombo Rubber Auction
• US GSP Trade Facility for Sri Lanka Likely to be Renewed

Government Evaluates Colombo Commercial Company Property Deal for Approval

11th January 2011, www.sundaytimes.lk, By Bandula Sirimanna

The Government is now in the process of closing the deal on the controversial Colombo Commercial Company property facing the Beira Lake after evaluating the bids of several investors, informed sources said.

A Cabinet Appointed Negotiating Committee is examining the proposed deal with a blue chip company which has agreed to make an upfront payment, sources added.

This blue chip conglomerate is to purchase the 11 acre prime property at a price of Rs. 8 billion. The demolishing of CCC buildings at the site has been completed by a private contractor on the directions of the Urban Development Authority.

The CCC property was earmarked to build city hotels, trade complexes and malls.

The development of the CCC property is being carried out under the government's ambitious plan to transform Colombo into a world-class city, globally recognized as a thriving, dynamic and attractive regional hub that is the centre piece of '21st Century Sri Lanka'.

The responsibility of implementing this plan has been entrusted to the Defence Ministry under the direction of its secretary Gotabaya Rajapaksa.

Sri Lanka in Brief - A Handy Guide by Ceylon Chamber of Commerce

24th July 2010, www.dailynews.lk

The Ceylon Chamber of Commerce has just released the 27th edition of its booklet, "Sri Lanka in brief" containing valuable bits of information about the country to the business community.

Developed by the Chamber's Foreign Trade and Information Division, the booklet has become a popular publication and serves as an excellent source of reference material for both local and international businessmen. The booklet can also be used by businessmen travelling abroad as a tool to promote the country.

The latest version contains concise information on geography, population, economy, key imports and exports, major trade partners, investment, infrastructure, the stock exchange, trade agreements, business registration, list of banks, tourism and tourist destinations, shipping and aviation details, ports, diplomatic representations (both local and overseas), double taxation and relief, registration of motor vehicles and telecommunication services.