Sri Lanka Targets $12bn Exports in 2012 up from $10.4bn in 2011. Upcoming Trade Fair & Weaker Rupee to Help

16th March 2012, www.lankabusinessonline.com

Sri Lanka is targeting 12 billion US dollars in exports in 2012 up from 10.4 billion in 2011 which will be helped by an upcoming trade fair and a weaker rupee, export development board chief Janaka Ratnayaka said.

Ratnayaka said if current trends continue exports may reach a 2015 target of 15 billion rupees earlier than expected.

But Sri Lanka's exports increased over 20 for two years running with a stable rupee at around 110 to the US dollar. A currency depreciation, increases profits of an export firm by cutting real wages of workers.

A depreciating currency impoverishes all wage earners and also destroys capital available for future investment by shrinking the real value of financial savings, including bank deposits and pension funds.

Sri Lanka started to have balance of payments trouble and its currency started to depreciate shortly after 1951 when a money printing 'soft-pegged' central bank was created, abolishing a 'hard peg' or currency board, which had kept the rupee fixed for more than 65 years.

Ratnayake said an upcoming 'Expo 2012' trade fair to kick off on March 28, will help Sri Lanka boost exports.

"Already more than 1,000 foreign delegates have signed up," Ratnayaka told reporters.

"Day by day more people are signing up and hotels in Colombo are fully booked and running out of rooms."

A 300 strong delegation would be coming from China.

Related Info :

• Sri Lanka Expo 2012 Fair Signs up 370 Exhibitors. To be Held from March 28 - 31 at BMICH, Colombo

• Sri Lanka's 2011 Export Earnings Rise by 22.4pct while Imports Up by 50pct Affecting Trade Deficit to Increase by 99.6pct
 
• Exporters Directory CD Launched by Sri Lanka Export Development Board

Burhani Expo SITE 2011 Mega Trade Fair by Borah Community Highlights Sri Lanka as the Best Performing Eeconomy in Southeast Asia

05th May 2011, www.dailynews.lk, By Shezna Shums

The Borah community together with other trade and consumer companies will combine its efforts on the 13, 14 and 15 May to showcase a complete range of consumer and industrial products and services under one roof. The event will be held for the first time at the Sri Lanka Exhibition and Convention Centre (SLECC).

With peace prevailing in Sri Lanka, the Sri Lankan economy has been rated by world leaders as the best performing economy in Southeast Asia. This three day Mega International Trade and Consumer Exhibition is being organised to take advantage of the fast expanding market and also to celebrate the 100th Milad Mubarak of His Holiness Dr. Syedna Mohammed Burhanuddin Saheb (TUS), the spiritual leader of the International Dawoodi Borah Community.

The show will create opportunities for individuals and companies to introduce new products, technology and services. One of the main objectives of Burhani Expo SITE 2011 is to provide local businesses with an opportunity to showcase their products to reach a pertinent local and international audience. The event will have around 130 stalls covering areas such as readymade garments, jewellery, hardware, processed foods and packaging, specialised authentic Borah cuisine of snacks and sweets and many more, giving opportunities for investors, traders and consumers to see firsthand, the availability of opportunities in this community.

Burhani Expo SITE 2011 will also showcase many participating overseas companies, especially from the SAARC region. Concurrent events such as seminars and workshops will be held during the three days of the show.

This exhibition has been designed in such a manner that the general public, who are the end consumers, gather substantial knowledge and information about new products and services offered by the Borah Community.

The Anjuman E. Saifi Sri Lanka the main organisers of the event are working in collaboration with Lanka Exhibition and Conference Services to make this event a reality. One of the objectives of the event is to promote international and local trade among Borahs from countries such as India, Pakistan, Dubai, South Africa, USA, UK and Europe.

Hotel, Hospitality & Food Sri Lanka, a Mega Trade Fair in October Organised by Montgomery Worldwide UK & Pico Sri Lanka

13th February 2011, www.sundayobserver.lk, By P Krishnaswamy

Pico Sri Lanka and Montgomery Worldwide UK, specialists in organising international trade exhibitions, are hosting a three-day mega international trade exhibition from October 27-29 at the Sri Lanka Exhibition and Convention Centre themed Hotel, Hospitality and Food Sri Lanka.

The trade exhibition is being hosted by the Small and Medium Enterprises in Tourism Sri Lanka (ASMET), Federation of Chambers of Commerce and Industry Sri Lanka (FCCISL) and the Sri Lanka Convention Bureau (SLCB) in strategic partnership with the European Chamber of Commerce Sri Lanka (ECCSL).

Project Director of Montgomery Worldwide UK John Vimpany, one of the world's longest an established multi-national exhibition organiser, said at the media briefing that they have been following rapid developments in Sri Lanka in recent years and everywhere there is evidence of solid growth and strong potential.

Sri Lanka has been gaining serious world attention as it aspires to a service economy and its tourism sector is currently diversifying and is engaged in modernisation.

The hotel industry in South Asia is ready to grasp new opportunities, and with this country becoming more acceccible once again to foreign tourists and the potential of the North and East becoming reality, the opportunities are greatest of all for Sri Lanka, he said.

In the context of the fact that this year has been marked as the Tourism Year of Sri Lanka with anticipated rapid growth in the arrival of tourists, increased revenue from the industry and also huge investments in the sector, they believe that this is the best year to host the exhibition to boost industry growth, as innovative specialist trade shows are catalys that will further stimulate these trends, he said. They are certain that the event will enhance Colombo as a regional business destination and boost business tourism, he said.

The show targets those in Hotel Management, Food Service Management, Catering, Restaurants-Cafes-Bar and Club Management, hospitality sector trainers and HR specialists throughout the world for them get maximum benefit out of the show, he said.

Shanti Outschoorn, Executive Director of Pico Sri Lanka said that they have joined hands with Montgomery in partnership because many business opportunities have arisen specially in the Hotel, Hospitality and Tourism Industry. The exhibition is focused on the growth of the hotel industry in Sri Lanka. With the Government's intention of increasing tourist arrivals to 2.5 million by 2016 from the current level of 0.6 million, the trade exhibition will play a vital role in enhancing the facilities offered to tourists while bringing potential business delegations to the country.

On the other hand they are certain that the trade event will also benefit our country through the development of tourism infrastructure and directly contribute towards MICE tourism by creating a perfect B2B platform. They believe that the exhibition partnership will also result in internationalisation of the local exhibition industry and give an opportunity to show the world our capability and standard in industry, she said.

Sri Lanka has been enjoying a general growth rate of five percent in recent years but with the well publicised new stability throughout the entire country, the GDP is now set to grow at eight percent, Emile Gunasekera, General Manager of Pico Sri Lanka said. With the projected tourist arrivals in 2016 at 2.5 million, the projected increase in revenue from the industry at US $ 600 million and investments at Rs. 800 million, the need to construct about 36,000 new rooms and refurbish the existing rooms has arisen.

The exhibition will facilitate the availability in Sri Lanka itself of all support services. Including architecture, design and development and to all other requirements, he said.

General Manager, European Chamber of Commerce Sri Lanka Niranjala Del, President, Tourist Hotel Association of Sri Lanka Anura Lokuhetti, President of the Association of Small and Medium Enterprises Tourism Sri Lanka Siri de Mel and Project Consultant Asia, Montgomery Worldwide Charlie Wrey also briefed the media.

Related Info :
• Brochure : Hotel, Hospitality and Food Sri Lanka - South Asia's International Hotel, Hospitality and Tourism Event at Sri Lanka Exhibition and Convention Centre, Colombo. 27 - 29 October 2011

Jaffna International Trade Fair 2011 Draws Large Crowds

23rd January 2011, www.sundayobserver.lk

The Jaffna Municipal Council grounds took a festive atmosphere last week with many local as well as Indian, Malaysian and Indonesian delegates participating at the Jaffna International Trade Fair 2011 (JITF), which commenced on Friday.

On the opening day President of the Federation of Chambers of Commerce and Industry in Sri Lanka, Tissa Jayaweera said the Sri Lankan Chamber looks to unite and strengthen the inter-relationship between people through business and business has no barriers or borders.

The large Indian business community at the event was a significant factor with a separate pavilion for national Small Industries Corporation of India and the Kerala business community together with active involvement by the Indian High Commission in Sri Lanka and with India being the partner country for JITF 2011.

Director of India Exhibition and Conference Services Pvt. Ltd Joseph Kuriacose said JITF 2011 is a great opening for Indian businesses that compete in the global market and even has the opening, particularly in Jaffna to compete with local businesses.

More than 50 different companies have showcased their products at this year's exhibition compared to the two that represented the 2010 fair.

Related Info :
• Jaffna International Trade Fair 2011 - FCCISL Brochure Download

• Jaffna International Trade Fair 2011 Starts on 21st January

International Trade Fair & Investor Forum to be Held by NCCSL, Sri Lanka

03rd May 2010, www.news.lk

The National Chamber of Commerce of Sri Lanka (NCCSL), the first ever National Chamber established in 1948 after independence, will hold an International Trade Fair and Investor Forum named “INTRAD-EXPO 2010” from May 07-09 at the BMICH.

The three-day mega International Trade Fair & Investor Forum “INTRAD-EXPO 2010” will be an excellent opportunity to showcase and promote various products and services.

A large number of participants (exhibitors and visitors) from the SAARC region, other Asian countries and Europe are expected to participate.

Exhibitors will have maximum exposure, publicity for their products and services with ample opportunities to interact with foreign and local clients.

Sri Lankan Gems in China, As A Large Number of Gem and Jewellery Companies Participate in International Trade Fairs

28th October 2009, www.dailynews.lk

Thirty four gem and jewellery companies will participate in trade fairs in China in November this year.

This is the first time a large number of gem and jewellery companies have decided to participate in international trade fairs in China, a senior official of the National Gem and Jewellery Authority told Daily News Business.

The first trade fair, the China International Jewellery Fair, Beijing will be held from November 5 - 9 with the participation of 18 Gem and Jewellery companies from Sri Lanka. The second trade fair, the China Gold, Jewellery and Gem Fair in Shanghai will be held from November 26 to 29 with the participation of 16 gem and jewellery companies from Sri Lanka.

China has been recognized as a potential and lucrative market for Sri Lankan gems and jewellery.