Window of opportunity in China for Sri Lankan exporters

China has taken a maiden initiative to promote South Asian exports to the Chinese market by organising the South Asian Commodity Fair in Beijing from December 28 to 30.

The Fair is primarily aimed at assisting South Asian exporters to penetrate the Chinese market where some 300 trade display stalls covering 5500 square metres will be available for participants to display their products, the Sri Lankan embassy in Beijing said.

Dealers who are engaged in domestic market and main distributors who are engaged in mining, energy, raw material imports and processing, enterprises that are engaged in finance and investment and have an interest in trading with South Asian Countries will be invited for the Fair.

China is planning to increase its imports to $1 trillion by 2010, up more than 25 percent from $792 billion last year in an attempt to balance trade, China’s Ministry of Commerce is quoted as saying. The Ministry of Commerce has abolished the import licensing of over 1600 products.

The embassy said there are opportunities for many Sri Lankan potential products such as coir-fiber, black tea, gems and jewellry, garments, fruit juices, coconut oil, essential oils, spices, fruits, fish, and many other top 50 Sri Lanka exports items to the world. As reduced duty structure has given a distinct advantage for Sri Lanka exporters and to utilize this advantage it is important that all consignments (APTA Concession list) to China include the Rules of Origin Certificate issued by the Department of Commerce in Sri Lanka.