Sri Lankan companies will benefit from a US $ 10.3 million buyer sponsorship package offered by the Hong Kong Trade Development Council (HKTDC).
This is the first time that such a sponsorship package was offered to Sri Lankan buyers and exhibitors as the recession has slowed down many economies in the world. Hong Kong, the 13th largest trade economy in the world and a gateway to China conducts international trade fairs periodically where the country acts as a meeting point, Manager Exhibitions, HKTDC, Peggie Liu said.
We conduct international trade exhibitions to explore markets as Hong Kong engages in export and import activities. We identify ways to work together to capture potential markets and expand existing markets.
The trade exhibitions provide an opportunity to build relationships and enhance trade. The opportunity is provided under the sponsorship package for Sri Lankan buyers participating in a trade fair for the first time, she said.
The current financial situation has less impact on buyers from emerging markets. Visiting trade fairs still remain an effective channel as over 99 percent of the participants were satisfied the way trade fairs were conducted, she said.
Sri Lanka s tea has a potential market and increased participation in trade fairs would help the country to expand and capture markets. The country could exploit the sectors of tea, house ware, apparel, jewellery and food, she said.
Our fairs are the best for one-stop sourcing - from parts to finished products and traditional models to innovative designs. Fairs in Hong Kong present opportunities for companies in Sri Lanka to sell and to source quality products, get market intelligence, establish alliances and business contacts for expansion and move into new markets, Liu said.
Sri Lanka is the 48th trading partner of Hong Kong. The HKTDC has a data base of over 700,000 buyers. It would be an ideal platform for Sri Lankan buyers and exhibitors to showcase their products and services. The tax and customs system in Hong Kong is simple and this would be an attraction for potential traders. It is important that Sri Lankan companies take advantage of the package as the country as a whole would benefit from such relationships, she said.
Among the top 10 commodities imported to Hong Kong from Sri Lanka are apparel related items, telecommunication equipment and base metal while the top 10 exports from Sri Lanka to Hong Kong include tea, electrical machinery, apparel textile fabric, sea food, pearls, precious and semi precious gems.
The HKTDC will conduct several international trade fairs in the coming months where buyers could harness the potential in expanding business opportunities.