FCCISL to hold eighth SAARC Trade Fair in Colombo

The Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) has finalised all arrangements to hold the eighth SAARC (South Asian Association of Regional Cooperation) Trade Fair at the BMICH from August 28-31.

The added feature this year is the first South Asian Economic Summit (SAES) which will be run parallel to the Trade Fair and to fulfil this task The Institute of Policy Studies of Sri Lanka (IPS) will join hands with the FCCISL.

The IPS is collaborating in this endeavour with Research and Information Systems for Developing Countries (RIS), India; South Asia Centre for Policy Studies (SACEPS), Nepal; and South Asia Watch on Trade, Economics and Environment (SAWTEE), Nepal.

The SAES is supported by the World Bank, Commonwealth Secretariat, UNDP-Regional Centre in Colombo and the Asian Development Bank.

The SAES will bring together a cross-section of stakeholders from the government, private sector and research institutions in the region to review and reflect on economic cooperation within South Asia to date and how the process could be strengthened in the future.

FCCISL, the principal organising body for the eighth SAARC Trade fair - 2008 is the largest and most representative apex business organisation of the Sri Lankan private sector business. The FCCISL is also the most widely spread business organisation with member bodies from all districts and provinces of Sri Lanka.

With a nationwide membership of over 50 chambers of Commerce and business associations, FCCISL espouses the shared vision of Sri Lankan businesses and speaks directly and indirectly to over 15,000 large, medium and small segments of manufacturing, distributive trade and services spread both locally and internationally.

FCCISL hosted the SAARC Trade Fair in Sri Lanka earlier in 1998. For the second time the FCCISL is again honoured by being awarded to organise the eighth SAARC Trade Fair in Colombo.

The other stakeholders for the event are the Department of Commerce, Export Development Board, Board of Investment, Sri Lanka Customs, Sri Lanka Tourist Board, Ministry of Foreign Affairs, Ministry of Export Promotion and many other public and private organisations.

President, FCCISL and Vice President, SAARC Chamber of Commerce and Industry Nawaz Rajabdeen said that among the many bold initiatives taken towards achieving the long term objectives of SAARC is the organising of the SAARC Trade Fair which has immensely contributed to economic cooperation among business, industry and entrepreneurial sectors of the member countries.

He said that this Trade Fair has now become a regular feature since 1996 when the first SAARC Trade Fair was held in New Delhi, India and it promotes intra-SAARC trade.

The award of organising this Trade Fair for the second time to FCCISL, Rajabdeen attributed to the successfully organising the second SAARC Trade Fair in 1998.

South Asia is considered to be the most diversified culture and biodiversity of the world and the prospect of new product development, marketing of tourism in the region and sharing resources through joint strategies are some of the responsibilities of SAARC. The annual SAARC Trade Fair is the forerunner in achieving these goals.

SAARC comprises Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka. It is a manifestation of the determination of the people’s of South Asia to work together towards finding solutions to their common problems in a spirit of friendship, trust and understanding and to create an order based on mutual respect, equality and shared benefits.

Around 600 stalls would be distributed among the SAARC Member Countries and Sri Lanka will have around 200 stalls.