#wedf2016 LAUNCHED IN COLOMBO

‘All top 20 global shipping lines call on Colombo’-Rishad at #WEDF2016

• 16^th WEDF coming to Sri Lanka, unveiled in Colombo
• #WEDF2016 this October in Colombo
• ‘Lanka’s regional hub role growing’-ITC’s Gonzalez
• ‘#WEDF2016 an investment call as well’-Rishad
• ‘Strategically located Lanka best place for WEDF’- Gonzalez
• ‘Strategic connectivity helped our apparel success’-Rishad
• • Teams from Geneva & Australia here to push women’s biz

• Due to Sri Lanka’s strategic location, all top twenty global shippers call on historic Colombo port –and Sri Lanka’s central geographic location is a great drawcard for the 16th World Export Development Forum (WEDF) session to be held in Colombo this October, as revealed on 05 May in Colombo.

“WEDF is a rare opportunity for Sri Lankan export sector to highlight its brand portfolio to the visiting international trade experts right here in Colombo. In fact, it is not only an opportunity to highlight our export portfolio, but also a highly viable FDI call opportunity for us” said Minister of Industry and Commerce Rishad Bathiudeen,

Minister Bathiudeen was addressing the WEDF 2016 launch in Colombo on 05 May at Cinnamon Grand Hotel. Minister Bathiudeen was joining with Minister of International Trade and Strategic Development Malik Samarawickrema and his top officials, State Minister of International Trade Sujeewa Senasinghe, Executive Director of Geneva’s International Trade Centre Arancha Gonzalez, Lankan business leaders, and members of the diplomatic community, among others. The 16th in WEDF series –the first WEDF to be held in Colombo- was clinched for Colombo under Minister Bathiudeen’s directions during WEDF 2014 held in Kigali, Rwanda. Colombo’s WEDF ’16 is themed “Trade for Success: Compete, Connect, Change” and reflects the importance attached by both the GOSL and ITC on the role of private sector in growth, trade and job creation. WEDF 2016 will also feature focused B2Bs among participating corporates and businesses from Sri Lanka and abroad. Teams from ITC Geneva and Australia’s AusTrade are now in Colombo to start a support program aimed at Lankan women entrepreneurs.

“The successful trade effort of a country is a result of many factors. More importantly it is a fundamental pillar of nation branding.There are many opinions on nation branding and its relevance to export success. I believe that WEDF is a rare opportunity for Sri Lankan export sector to highlight its brand portfolio to the visiting international trade experts right here in Colombo. WEDF can highlight that despite shifting comparative advantages there are special advantages that Sri Lanka still has that supports its engagement with international supply chains-For example our strategic geographic location. We know that Sri Lanka was a key port of call in the historic silk route. Colombo port has been a “must stop” destination connecting the shippers of west and east. But today we are not just a hub sitting at the southern end of the Indian sub-continent. We have achieved South Asia’s main shipping hub status as well” said Minister Bathiudeen and added: “According to World Shipping Council rankings Colombo port is Ranked 33 among top 50 container ports and as per Alpha Liner Research, Colombo is ranked as 27th container port in the world. World’s top twenty shipping lines play a huge role in global trade taking 87 percent of global shipping is handled by these top twenty global shipping lines. I am pleased to say that all the top twenty shipping lines call on Colombo port on a regular basis. In fact Colombo has become South Asia’s topmost ‘container transshipment’ hub. The reason for Colombo’s shipping prominence is not only due to being located at the Southern Indian sub-continent but also being located along one of the busiest shipping routes in global trade. Colombo is yet another hub port that is on the 10000-mile long historic Rotterdam-Singapore shipping route. For example, as a result of this connectivity, our world class apparel sector succeeded in maintaining highly competitive logistic costs and is able to overcome the continuously changing comparative advantages. What is equally important is that this location advantage also gives us to boost our service exports. The strong and continued air connectivity to Colombo from Europe and US, fast Visa processing to Colombo, and twenty four hour seven day telecom and IT connectivity using SEA-ME-WE cable to the world, are some geographic related factors that results in our growing reputation as an IT/BPO outsourcing destination with the presence of international outsourcing firms such as HSBC, RR Donnelly, AMBA Research and WNS. Therefore WEDF 2016 is not only an opportunity to highlight our export portfolio but also a highly viable FDI call opportunity for us to grow our international trade as well. I am confident that both the local and international media present here will extend their valuable support to take WEDF 2016 message everywhere. I commend ITC Geneva and Minister of International Trade and Strategic Development Malik Samarawickrama for their joint efforts to develop Lankan trade using WEDF global platform.”

Executive Director of Geneva’s International Trade Centre Arancha Gonzalez, addressing the session said: “ITC promotes international trade to drive inclusive growth. With its central position in the Indian Ocean Sri Lanka was a centre for trade long before the Portuguese sailed into these waters. In recent years the Island’s role as a regional hub, has grown steadily. Sri Lanka is very strategically positioned between today’s growth poles in East and South Asia and tomorrow’s growth poles in Africa. I can think of no better for ITC to hold its flagship event than Sri Lanka. Convening the world’s trade and development community together with business reps here in Colombo this October will provide an opportunity to showcase Sri Lanka, the wonder of Asia. I am happy to announce today ITC will conduct a series of training programs for Lankan agro food producers to enhance their standards to access new, potential markets.”

Ministers Malik Samarawickrema and Sujeewa Senasinghe also addressed the Colombo event.