Lanka poised for business investment

by Gamini WARUSHAMANA

Conference and Exhibition Management Service (CEMS), a global company launched operations in Sri Lanka last week focusing on new business opportunities.

“We saw good opportunities to launch new business in Sri Lanka as new investments are coming in. Therefore, we postponed the launch of our operations in Singapore and came here, said the group director, global operation of CEMS S.S. Sarwar.

CEMS announced three in one international exhibition on textile and apparel sector and allied fields. The “Texttech Sri Lanka 2010 International Expo” exhibition will focus on garment technology and machinery, “Dye+Chem Sri Lanka 2010 International Expo” exclusive exhibition on dyes and speciality chemicals while “Colombo International Yarn and Fabric Show 2010” will target on entire garment export sector in Sri Lanka.

The exhibition will be held at Sri Lanka Exhibition and Convention Centre (SLECC), in Colombo from March 4 to 6. The mega exhibition has been endorsed by the Sri Lanka Apparel Exporters Association and Fabric and Accessory Manufacturers Association.

President and group managing director of CEMS Global Meherun N.Islam said that South Asia textile and apparel industry occupies a top slot in the export sector. With the top slot offered by this sector CEMS has been organising the ‘Texttech Expo’ for the past decade with a view to boost exports. We are happy to bring this internationally branded exhibition to Sri Lanka as there is a need for such exhibition of this nature in this country she said.

The latest technology on show will open new vistas and enable the local industry to update and upgrade its technology to be on par with competitors in the world, she said.

Sarwar said, this exhibition will provide business to business platform that facilitate the businesses to move froward. Many trade chambers of India and China and other countries have confirmed their presence at the exhibition, he said. CEMS has also planned an international exhibition in power and energy sector on June this year.

South Asia has a greater share in the global textile and apparel industry. However, Sri Lanka is the only place that has a potential to grow business. Therefore, world needs more information on Sri Lanka and this exhibition would cater that aspect of the industry today, he said.

When questioned how could Sri Lanka be an attractive place for the investors with continuing political woes and GSP+ concession not being granted which the apparel industry depends on Sarwar said, that GSP+ will not be an issue as the apparel industry of Sri Lanka has matured and also can compete with the EU market as well as there are new markets that can be exploited such as Japan and South Africa. India is another market and retail sector in India is fast growing.

The Secretary General of Joint Apparel Association Forum (JAAF) Rohan Masakorala said that the industry has already been affected due to global recession.

However the government has assured to support the industry if GSP+ concessions is phased out.

This kind of exhibitions are important to face the situation and find new markets, he said.

The Chairman of the Fabric and Apparel Accessories Manufacturers Association (FAAMA) Hameed Ashroff said that businesses should not expect trade protection and concessions forever.

If you are competitive the business can face any challenge. Sri Lanka got GSP+ facility after tsunami in 2004. The war, biggest obstacle that our business faced, was over and there for the phase out of GSP+ would not be a big issue, he said.