Colombo gets new business
Sri Lanka Expo 2012 was an event marked to showcase local products to international buyers and investors seeking to establish business opportunities in Colombo. The 350 stalls at the SBMEC displayed products ranging from apparel, tea, gems, diamond and jewellery; footwear and leather; handloom; rubber and rubber based products; ICT/BPO/KPO; electrical and electric items; plastics and chemicals; ceramic and porcelain; food and beverages; spices and allied products; coconut and coconut based products; fruits and vegetables; organic products; floriculture; ornamental fish; printing and stationery; giftware, lifestyle and toys; herbal and spa products; garments and textile; light engineering products; professional services; tourism promotion; trade chambers and service providers. This broad category of products and services on display afforded an opportunity for the international visitors to be able to obtain first hand information of how and where to do business in Sri Lanka. Some of the investors were taken on factory visits in order to better understand the working conditions and systems employed in Sri Lanka. March 30 and 31 were days open to the public, and buyers were also able to use their time to network effectively with the local companies and even the Board of Investment (BOI) was available to provide the necessary services for these new investors. The Business Times met with some of the stall holders who spoke of the possibilities of gaining new links with overseas buyers. Royal Fernwood Porcelain Lanka Decals General Manager - International Marketing M.S.S.N. Ozeer said they were able to establish three buyers and were still on Friday negotiating with them. He noted that most of the international buyers wanted to cater to the youth segment of the market and looked for possibilities to order the products online. Commenting on the designs, Mr. Ozeer said the buyers were interested in the range manufactured at present. This is second time Royal Fernwood was participating at this trade fair and they believed that there were lot of invitees from popular brands and Mr. Ozeer explained that some had also visited their factory in Kosgama. Currently the company exports to 40 countries and he pointed out that most buyers who left them for Chinese suppliers were now coming back. They also participate in about six international trade fairs in a year.
Richard Pieris Exports PLC Vice President Sales and Marketing Dammika Wijeratne told the Business Times on Friday that they had been able to secure some deals with visiting international buyers. A Maldivian buyer had expressed interest in rubber mats for gymnasiums and a volleyball court and had requested the company to install it as well for one of the leading hotels on a resort island. Rubber matting was also requested by a Malaysian architects' firm for use in gymnasiums. Two orders from Saudi Arabia have helped to export in the future manufactured rubber products, he said. Saudi Arabia manufactures rubber products mainly from recy- cled tyres. In this regard, the buyers were interested in the wide range of products and the company believes this would be a key investment since they would be able to establish further contacts with other similar buyers. Selyn, an apparel manufacturing company, was participating for the first time at the Sri Lanka Expo 2012 in the hope of positioning their brand in the market and establishing local contacts. Sri Toys, a toys manufacturing company, was looking for potential customers through their participation this year at the trade fair. Currently they export toys to 22 countries and wanted to communicate with new buyers and engage with them on how to further develop their brand. The BOI and Sri Lanka Tourism stalls saw a number of interested investor networking with officials in a bid to ascertain how to establish contacts and secure opportunities for new investment in the country. In this respect, the BOI and Sri Lanka Tourism had printed brochures in different languages for ease of doing business.