Lanka woos UAE business

UAE businessmen rush to Sri Lanka as the country opened up its doors for competitive trade. More than 50 business personnel from Dubai and other emirates are camping in Sri Lankan to explore business opportunities. Sri Lankan President Mahinda Rajapaksa inaugurated Expo 2012, being held for the first time in 12 years. More than 370 exporters are showcasing a wide array of goods and services at the expo. “The expo was very impressive. I am having meetings with certain key personnel here. Very soon you will see a Danube signboard over here,” said Rizwan Sajan from Danube Building Materials. The export sector of Sri Lanka, after facing a setback in 2009 due to the global financial crisis, rebounded strongly in 2010. The momentum gathered by the sector improved further as earnings from merchandise exports reached $10.4 billion in 2011, representing a growth of 22.3 per cent compared to that of previous year. The country’s Export Development [EDB], has identified several key product sectors such as apparel; tea; rubber and rubber products; gems and jewellers; ICT /BPO; food and beverages; and spices and allied products, which would contribute substantially to enhance export earnings. More than 1,200 trade visitors from Middle East & Africa, Americas, the EU, Russia, South Asia, East Asia & Pacific are also attending the event.