The event being a first in Sri Lanka aims at a large amount of Foreign Direct Investment coming in with potential investors.
Sri Lanka Export Development Board’s Additional Director General Jeevani Siriwardena told Daily News Business they are aiming at a revenue of US$ 80 million as the previous event that was hosted in Doha brought in a similar amount.
“The event is expected to bring in 600 participants, 300 foreign participants and 300 local participants. We already have a few registered but as the date of the event nears we expect to reach these levels. This event will bring about many participants who will have to find accommodation within the country. Those who register will be exporters who are interested in partnerships and we expect it will bring in many visits and other indirect means of Foreign Direct Investment (FDI),” she said.
The two day event held at the BMICH will entail several B2B meetings. It was also stated that 100 of the best applicants will be selected and set up with possible partners by the International Trade Centre for B2B meetings.
Development Strategies and International Trade Minister Malik Samarawickreme said the country is currently focused on improving the export sector which is currently not performing to its fullest potential. “Sri Lanka’s exports of goods and services amounted to about $17 bn in 2015. This is less than 20% of GDP. In countries like Malaysia, Thailand and Vietnam exports exceed 70% of GDP. Our share of global exports has also been declining,” he said.