Chinese Investors & Manufacturers to Visit Sri Lanka
South Asia is the fastest growing region in the world – its economy expanding by 6% in 2015 & 6.4% in 2016. Sri Lanka itself is one of the fastest growing economies in the world, with GDP expanding on average more than 6% since 2010.
The Sri Lankan industry is growing fast and a critical aspect of that growth is bridging the demand gap for materials, technology and skills. For example, Sri Lanka imports machinery of around $1.6 bn comprising 8.2% of total imports. Similarly, imports of plastics, lighting, footwear and even musical instruments to name a few are rising fast.
In terms of trade, China is Sri Lanka’s second largest trading partner and most significant source of imports, accounting for 20% of Sri Lanka’s total imports in 2015. While China accounts for just 2.9% of Sri Lanka’s exports, it holds great promise as an emerging export market as Sri Lankan exports to China have been growing at a faster rate than with the rest of the world. This potential for trade is bringing increasing exhibitors and buyers to the China Exhibition.
The China Exhibition ensures that the right people with the right infrastructure, skills and knowledge are brought together onto a common platform, thus creating a mutually beneficial situation for all concerned.
To spur this trade, the China Products (Colombo Sri Lanka) Exhibition brings over 120 quality Chinese exhibitors to Colombo, providing a rare opportunity for Sri Lankan businesses to access and interact with buyers from other countries on one single platform in Sri Lanka itself.
The upcoming Sri Lanka -China FTA will greatly boost trade between the two countries. A joint feasibility study on the FTA stated that it would increase bilateral trade, particularly in certain product sectors of interest to Sri Lanka including, but not limited to, tea, rubber products, fish and fisheries products, textile and clothing, coconut products, gems and jewellery, fruits and vegetables, machinery and electronics.
These factors are bringing in genuine interest from Chinese manufacturers and investors who are looking at long term prospects of not only trading but also to develop strong ties via joint ventures to grow with the Sri Lankan economy and industry. The business matching and interactions that will take place at the China Exhibition is specifically designed to synergise the manufacturing, import - export and trading requirements of both countries.
The products showcased this year include Bathroom Accessories, Household Electronic Appliances, Construction Materials, Hardware & Machine Tools, Lighting & LED, Consumer Electronics, Marble & Stone Products, Art & Art Supplies, Agricultural & Pest Control Products, Food Products & Machinery, Home Appliances, Hotel Supplies, Houseware & Home Decor, Furniture & Interior Products, and many more.
Watch the space for further details and access a world of opportunities at the China Products (Colombo, Sri Lanka) Exhibition
© Copyright 2019 Worldex India All Rights Reserved