Think big and the results will be bigger, says EDB Chairman
With the Global Rubber Conference 2014 taking place for the first time in Sri Lanka, rubber industrialists are enthusiastic about the recognition Sri Lankan rubber would gain in the world market.
Export Development Board (EDB) Chairman and CEO Bandula Egodage speaking to the Business Times on the sidelines of the launch of the conference in Colombo last week on how the conference would benefit the rubber industry in Sri Lanka, said, “If you think in a smaller way, the results will be small and vice versa. We are talking about the best rubber in the world and if we don’t get into the global arena, we will be losing it.”
The conference gives the opportunity of networking with worldwide rubber product manufacturers and exporters, and locating Sri Lanka in the world map. Sri Lanka needs high tech equipments to improve much better in the rubber sector, he added.
Mr. Egodage also noted that there are many global conferences taking place for the first time in Sri Lanka such as the Info Fish Global Conference, Asian Trade Development Forum, Gem and Jewellery Conference and many more. Sri Lanka needs to think on a broader perspective because export is the country’s world market.
Minister of Industry and Commerce Rishad Bathiudeen speaking at the event said, “Natural rubber constitutes almost one third of world’s total rubber supply. It is also of great importance to a country like Sri Lanka since the employment rates on this sector is considerable. As a result our government is now aiming at an ambitious US$ 3 billion rubber industry in the coming decade. To arrive to this target in a viable manner it is essential for us to support our rubber farmers. 65 per cent of the total planted rubber in Sri Lanka is owned by small farmers.”
Apart from the country’s historic reputation for natural rubber, there is an important ‘socio-economic’ reason to enhance this sector. In order to retain Sri Lanka’s historic reputation as a key player in the rubber supply chain and also to overcome rubber industry issues, it is time for a long term development plan for this sector. It would also be useful to introduce re-planting assistance. This could be funded by a temporary rubber cess during times of high earnings from rubber exports.
In 2013 Sri Lanka exported $72 million of natural rubber and another $887 million of rubber finished products. The total of $960 million is a 100 per cent increase compared to rubber exports five years ago in 2009.
The 4-day conference will be held on October 27-30 at the Cinnamon Grand in Colombo with the event themed ‘Sowing the Seeds for Sustainable Future’. Over 700 visitors and delegates from 28 countries will attend the meeting.