Lankan industrialists off to Myanmar as part of US$ 3bn rubber export target
Sri Lanka is sending 20 industrialists from ten manufacturers to this week’s global exposition in Myanmar for the first time as part of the country’s revived efforts to hit US $3 billion in rubber exports target.
“This is the first time that the Industry Ministry is actively moving towards national export development work,” said the Industry and Commerce Minister Rishad Bathiudeen.
Minister Bathiudeen was handing over the air-tickets to representatives of 10 Lankan plastic and rubber manufacturing firms who will fly out on June 13 and 14 to join the Lankan pavilion at Complast Myanmar 2018, the International Industrial Trade Fair for plastics and rubber sector. Complast 2018 will commence on 15 June in Yangon, Myanmar and will end on 17 June. The Lankan delegation consists of 20 industrialists from Textrip Ltd, Clean Poly Packaging Ltd, Lanmic Exports, Polydime International Ltd, Global Vinayl Ltd, Kalhari Enterprises, World Polybags International, Penguin Polymers, PE Plus Ltd and Oleema Industries Ltd.
“The government focuses on an exports-led growth and aims at a US$ 3 billion exports target for rubber. This ministry has evaluated your performance in rubber and plastics sectors and have picked you to represent Sri Lanka at the important Complast Myanmar 2018. At this event, we want you to focus on receiving industry exposure but for the first time, for international rubber market promotion efforts of Lankan rubber, for us achieve export targets,” said Minister Bathiudeen.
Last year Sri Lanka’s rubber finished products exports increased by 9 percent to US $ 835 million in comparison to 2016’s US $768 million. Exports of natural rubber too increased by 18 percent to US $39 million from 2016’s US $33 million.
The Ministry of Industry and Commerce is subsidising 50 percent of industrialists’ airfare and accommodation and the total bill for Sri Lanka pavilion at Complast Myanmar 2018.
In addition to raw materials such as polymers and resins, the exhibitors of Complast Myanmar 2018 also plans to showcase processing machines and technologies as well as forms, chemicals, additives, test equipment and recycling services.
Minister Bathiudeen handing over an air ticket to a Sri Lankan plastic and rubber sector representative. Vice President of Plastic and Rubber Institute of Sri Lanka Kaushal Rajapakse (third from left) is also present