The Export Development Board (EDB) is organizing the Sri Lanka Expo Exhibition and Symposium 2012 after a lapse of 15 years and looking to achieve a US$15 billion targeted revenue by 2015.
EDB Chairman and CEO Janaka Ratnayaka addressing the media said that inspite of the setbacks faced previously and by regional countries Sri Lanka has “done remarkably well.”
The government has incurred a cost of Rs. 140 million to conduct this event in the country the organization of which has taken over 18 months, he said.
Exports to the US accounts for 20% and the EU accounts for 34% in an export sector that has witnessed a growth of 24% in 2011, he said achieving earnings in the range of US$11 billion.
He noted that this year Sri Lanka is looking at achieving a 20% growth and expects earnings to top nearly US$13 billion.
The 4-day exhibition is expected to play host to nearly 1000 visitors including trade buyers, tourism industry, ministerial delegations, distributors and investors.
It is also expected to attract around 700 trade visitors from the Middle East and Africa, Americas, the EU, Russia, South Asia, East Asia and the Pacific.
Leading buyers and world brands Walmart Global Sourcing, ASDA, Arcadia, H&M, Victoria’s Secret, Bhs, M&S, Calzedonia S.p.A, Lulu (hyper market) and Carrefour have already confirmed their participation at this event.
Trade delegations from the US, UAE, Belgium, the UK, Singapore, Japan, Thailand, Malaysia, China, Pakistan, India, France, Russia and Germany in addition to representatives from the South Asia Experts Group on Investment and Investment Policy Think Tanks will be present on the occasion.
MAS and Brandix together with the Joint Apparel Association Forum (JAAF) are the main sponsors of the event.
The trade and investment symposium will deal with the subjects relating to trade and investment climate in the country in addition to the many facets Sri Lanka possesses as a tourist destination.
MAS Chairman Mahesh Amalean speaking at the briefing said that this would be a good platform to launch an offensive to increase exports by 50% by 2015.
Asserting that this was an “ambitious task” he said they would as exporters work towards achieving it.
Brandix CEO Ashrof Omar said they were confident of plans to achieve targets and noted that in about 5-10 years Sri Lanka would be able to play host to massive trade fairs, noting that “this is a good start.”
Meanwhile, government plans are underway to construct a massive (exhibition) structure in close proximity to the BIA airport in a bid to conduct similar events. |
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