“Huge trade increase with Turkey!”

In yet another major success in its export diversification efforts, Sri Lanka is moving towards considerable exports push with the easternmost NATO power in the world. And this G20 economy has made Sri Lanka a ‘Partner’ in the İzmir International Fair, the oldest tradeshow in Turkey, taking place for the 82nd time this year. “As of now, we already enlisted a 20 member strong delegation to the forthcoming Izmir international fair in Turkey. This delegation is still in its formulation process and not the final exhibitor numbers at all, which I believe could be much higher” said an eager Rishad Bathiudeen (Minister of Industry and Commerce) on 29 July at the Ministry of Industry & Commerce in Colombo 3. Minister Bathiudeen was addressing (HE) Iskender Okyay, Turkish Ambassador to Sri Lanka on 29 July at EDB premises, Colombo. (HE) Okyay was making a courtesy call on Minister Bathiudeen, who met (HE) Okyay together with Sujata Weerakoone (DG-EDB), Dr Yousuf Maraikkar (Executive director EDB) and other officials of the Department of Commerce.

The Sri Lanka Partnership upgrade by Turkey in the forthcoming İzmir International Fair to be held from 29 August to 2 September, follows a similar upgrade on Sri Lanka by yet another G20 economy –China- on 15 March this year. “Trade balance is favouring Sri Lanka with huge Six-Fold increase over the recent past” said Minister Bathiudeen, addressing (HE) Okyay. “The EDB is planning a special Sri Lanka pavilion at Izmir. A Lankan team has visited Turkey in advance already and completed its reconnaissance of the trade venue, to set up the Lanka pavilion. I am pleased to inform that apart from the exports and trade delegation, there will be a Lankan cultural troupe too taking part in this fair. Also, we have already enlisted our rubber, tea and coir sectors that continuously display strong demand in Turkish market. All these arrangements are aimed at sending the biggest and best export promotional message to Turkey and the participating global market players” added Minister Bathiudeen. “Your keenness is fantastic!” voiced voiced (HE) Okyay, and added: “This is exciting, and very good. In fact, I and my embassy staff in Colombo shall give our fullest cooperation to the visiting Sri Lankan delegation. We are eagerly looking forward to your export showcase especially since you are our partner country in this venture! Sri Lankan exporters can strongly benefit from this first ever high level participation since there will be a strong presence of Russian as well as Central Asian buyers in this fair.”

Turkey, which became the world’s fastest growing economy in 2010 and 2011 beating the global recession, is also the first NATO member to upgrade its exposition affinity with Sri Lanka to ‘expo partnership’ level. A G20 economy with more than 70 Mn population/market, Turkey is the Eastern-most member in the powerful NATO bloc. Turkey’s Izmir is one of the five international Candidate Cities bidding for the World Expo 2020, the global exposition held once in five years (last show being Shanghai). According to the Department of Commerce of Sri Lanka, Trade with Turkey has been on an increasing trend lately. The balance of trade between Sri Lanka and Turkey has been in favour of Sri Lanka during the last 8 years, increasing six-fold-from $ 14.7 Mn to $ 88.39 Mn by 2012, which shows that Sri Lanka has a prominent role in the forthcoming Izmir Trade Show. The total trade turnover in 2005 which stood at $ 97.4 Mn almost doubled by 2012 to $ 190.57 Mn, registering an increase of 95.66% (compared to 2005). The Izmir international fair, the 82nd edition to be held in 2013, is also one of the longest on-going trade fairs in the world, is not based on specific “themes” for display of the products and therefore is considered as an open-products fair of international scale.