The Sri Lanka Export Development Board (EDB) in collaboration with the Sri Lanka Embassy in Japan organised the visit of an Inward Buyer Delegation from Japan recently to develop business links between Sri Lankan companies and Japanese buyers and to increase awareness among Sri Lankan exporters about the Japanese market.
A business forum and Business to Business (B2B) meetings for the Sri Lankan business community with the Japanese buyer delegation was held at the EDB. Chairperson and Chief Executive of the EDB, Indira Malwatte said this is an opportunity for Sri Lanka as a buyer delegation had visited the country after a lapse of many years, and urged the business community to make use of this facility.
She outlined the facilities available at the EDB to help entrepreneurs enter international markets, and modernise or upgrade products and production processes to increase market access by introducing improved value added products and services.
The leader of the delegation, Minister (Commercial) of the Sri Lanka Embassy in Japan, Samantha Wijesekara, delivered a presentation on ‘Trade Opportunities in Japan’ discussing his experiences in Japan.
A presentation was also done by a Japanese delegate outlining the importer perspective.
He outlined 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 initial contact with the 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 Japanese cities. Japan is the 13th largest 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 were US $ 1,038.5 million. In 2017, Sri Lanka’s major exports to Japan were apparel, tea, fisheries products, coir textile fiber products, insulated cables and 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. Over 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 Japanese delegation was interested in meeting the Sri Lankan business community mainly engaged in product sectors such as apparel, handloom products, spices and concentrates, tea, organic products, processed food, healthcare and cosmetic products, fruits and Vegetables, coconut based products, natural rubber gloves, super foods, vanilla beans and cashew nuts. The delegates also undertook factory visits to selected companies as a follow up to the initial discussions.