With the objective of developing business linkages between Sri Lanka companies and the Japanese buyers as well as increase awareness among Sri Lanka exporters on the Japanese market, Sri Lanka Export Development Board(EDB) in collaboration with the Sri Lanka Embassy in Japan, organized a Japanese Inward Buyer delegation to visit Sri Lanka from December 3rd and 5th.
At the Business Forum and the Business to B2B meeting programme where Sri Lankan Business community met with the Japanese buyer delegation, held on December 3rd at the Sri Lanka Export Development Board Chairperson & CEO of the EDB, Mrs.Indira Malwatte,.Chairperson & CE of the EDB, Mrs. Indira Malwatte addressing the meeting said that this was an opportunity for Sri Lanka as a buyer delegation had visited Sri Lanka after a lap of many years and also urged the business community to make use of this facility to enter the Japanese
She also outlined the facilities available at the EDB to help entrepreneurs to enter international market, modernize or upgrade products and production processes with a view to increase market access by introducing improved value added products and services.
Leader of the delegation, Minister (Commercial) of Sri Lanka Emb
assy in Japan, Mr. Samantha Wijesekara, delivered a presentation on “Trade Opportunities in Japan” during the Business Program using his experiences in Japan. A presentation was also done by a Japanese delegate who outlined the importer perspective for the benefit of the Sri Lankan entrepreneurs. He pointed out the important factors to consider when dealing with the Japanese buyer such as trust, punctuality, quality, capacity and stability in price. He also outlined the different avenues available to make the initial contact with the most appropriate trading partners in Japan.
The Japanese delegation comprised AISS Corporation, Charis Seijo Co. Ltd, Eikokuya Co. Ltd, GS Food Co. Ltd, Nakai Shuhan Co. Ltd, Sakura Far East Ltd, Sakurai Foods Co. Ltd., Sugi Pharmacy Co. Ltd, Tanakayo & Co. Ltd, Ceythe Japan Co. Ltd from Tokyo and other cities of Japan.
Japan is the 13th export destination for Sri Lanka. Total export value from Sri Lanka to Japan was US $ 207.0 million in 2017 and total imports from Japan to Sri Lanka for the same period were US $ 1,038.5 million. In 2017, Sri Lanka’s major exports to Japan was apparels, tea, fishery products, coir textile fiber products, insulated cables, table and kitchenware. In 2017, Sri Lanka’s imports from Japan mainly comprised motor vehicles and transport equipment, electrical & electronic products and products of base metal.
There was an immense interest from the business community of Sri Lanka for this event and more than 80 companies registered for more than 250 B2Bs. Due to the publicity given at the regional level, a few entrepreneurs from Jaffna also attended the B2Bs.
The Japanese Delegation was interested to meet the Sri Lankan business community mainly engaging in product sectors viz. Apparel, Handloom products, Spices & Concentrates, Tea, Organic Products, Processed Food, Healthcare & Cosmetic Products, Fruits & Vegetables, Coconut based products, Natural Rubber Gloves, Super Foods, Vanilla Beans & Cashew Nuts etc.
The interactions with this Buyer Delegation was a great opportunity for the Sri Lankan export oriented companies and for the potential exporters to enhance their knowledge on the Japanese Market and to develop and extend the business network. The delegates also undertook factory visits of selected companies as a follow up to the initial discussions held on December 3rd.