First shipment from Expo Global Distribution Centre leaves Colombo Port under Free Port regulations
View(s):The first shipment from the Expo Global Distribution Centre (EGDC), a value added bonded warehousing facility under the free-port regulations at the Katunayake Export Processing Zone, has left Sri Lanka, the Board of Investment (BOI) said in a media relese.
EGDC is a BOI company registered under the new Finance Act – commercial Hub regulation No 1 of 2013 that provides a range of value added logistics services at point of origin to freight customers enabling them to save costs and manage the supply chain effectively.Eskimo Fashion Knitwear is the first company to make use of EGDC’s unique value added services to international apparel retailers operating in Sri Lanka and the region. ReimaOy Finland is the first overseas buyer to benefit from EGDC’s services, it said.
EGDC functions as a Free Port, which is a duty free zone allowing retail brands to bring down goods to Sri Lanka without any customs inspection or duty. The facility operates as a distribution centre, providing storage solutions and value addition services, primarily targeted at the Fashion Apparel industry. In addition, EGDC provides services such as off shore businesses where goods can be procured from one country or manufactured in one country and shipped to another country without bringing same to Sri Lanka,
Hanif Yusoof, Group CEO/Group Director of Expolanka Holdings PLC said, “This is an important milestone not only for EFL but also for Sri Lanka as a country seeking economic progress on par with countries such as Dubai and Singapore which already have such commercial hub facilities. As a prominent player in Sri Lanka’s Freight and Logistics sector, we find the Government’s strategic approach to encouraging the sector heartening”.
Manik Santiapillai – Managing Director/Eskimo Fashion Knitwear (Pvt) Ltd, said that, “ReimaOy ise one of Eskimo’s major customers. When they expressed an interest to shift warehousing and export operations from China to Sri Lanka we referred them to Expo who are Eskimo’s logistics partner. We are extremely happy to see that the combined efforts of all parties involved have now borne fruition and will also contribute to the Government of Sri Lanka’s initiative to establish Sri Lanka as an international trading & transhipment hub”.