17 October 2011

Media Release

Sri Lanka announces EXPO 2012

Sri Lanka announced a mega export exhibition for international buyers to be held in 2012 in Colombo. 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 to be held in March 2012 will showcase Sri Lanka's new export capabilities to international buyers". According to Central Bank data, Sri Lanka's export earnings show the highest ever annual value of US$ 8.3 billion in 2010, a 17.3% increase.

The export earnings in December 2010 alone record highest ever monthly value of US$ 968 million. Export earnings in January 2010 increased sharply, up 72.4 percent to US$ 813.4 million from US$ 471.7 million a year ago.

“As a country we have collective responsibility to mobilize 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 endeavor 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.

Many private sector exporters cheered the 2012 move. G.E.L Silva, Managing Director of BOI firm GP De Silva & Sons Int’l, the BOI firm 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 organized 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 BOI firm is one of the largest private sector cinnamon exporters in Sri Lanka.

Courtesy: http://www.news.lk/home/18009-sri-lanka-announces-expo-2012