CMA Sri Lanka COVID-19 SME development helps explore opportunities in Japan

Sri Lanka’s Institute of Certified Management Accountants (CMA) COVID - 19 SME Development Committee, set up by Prof. Lakshman R. Watawala, founder of CMA, to assist SMEs and other corporates to overcome post COVID-19 challenges, is keen to promote trade and investment opportunities in Japan for Sri Lankan companies.

This committee has representations from professional bodies, chambers of commerce, banks, several volunteer leaders from business and industry, etc and is taking the initiative in following up many priority issues with the government to bring relief to SME sector and other corporates.

The committee is headed by Athula Edirisinghe, Managing Partner of Strategic Management Alliance, who is also a Past President of JASTECA – Japan Sri Lanka Technical and Cultural Association.

“This initiative by CMA – COVID - 19 SME Development committee has received positive response from the many leading corporates in Sri Lanka seeking Japanese links for trade and investment for their businesses. Industries comprising IT and Communication, Apparel, Pharmaceuticals, Tea, Footwear, Rubber products, Agro Processing, Health Care, Food and Beverage Manufacturing and Confectionary Sectors are among those showing keen interest,” the committee said in a media release.

Several reputed companies were identified by the National Chamber of Exporters (NCE), Chamber of Young Lankan

Entrepreneurs (COYLE) and Federation of Information Technology Industry Sri Lanka (FITIS) and shortlisted as companies eligible for submission to Japanese counterparts.

The committee has a tie up with a Japanese Business Development Consultant who had also worked as a consultant to JETRO Japan to achieve this task. Data obtained from these Sri Lankan companies have been translated to Japanese and posted on a website of the Japanese Business Development Consultant, who is now in the process of drawing attention of several Japanese companies who are seeking opportunities outside China.

JETRO Head office, Japan is also supporting this initiative through their network in Japan.