Sri Lanka Participates in World Trade Expo 2024 in Mumbai
Sri Lanka’s Consulate General in Mumbai is organizing the Sri Lanka Pavilion at the 5th World Trade Expo (WTE 2024). This international trade fair will take place on October 17-18, 2024. It aims to boost business opportunities and economic growth through global networking.
WTE 2024 will gather over 30 countries, state governments, and trade bodies. The event will promote bilateral trade, investment, and education. Exhibitors will showcase an export potential of USD 31.8 billion for Indian businesses.
Key sectors include chemicals, pharmaceuticals, motor vehicles, and metal products. Engineering goods, agro, and allied sectors will also be featured. The expo focuses on trade, technology, tourism, and education.
Sri Lanka’s participation will highlight its diverse products and investment opportunities. This aligns with the country’s projected 4.4% economic growth in. The event provides a platform for businesses to explore new partnerships.
Key Takeaways
- Sri Lanka to participate in the 5th World Trade Expo in Mumbai, India, from October 17-18, 2024
- Over 30 countries will showcase untapped export potential of USD 31.8 billion for Indian businesses
- Sectors highlighted include chemicals, pharmaceuticals, motor vehicles, metal products, engineering goods, and agro sectors
- The event focuses on fostering trade, technology, tourism, and education collaborations
- Sri Lanka aims to showcase its diverse products and investment opportunities to contribute to its projected 4.4% economic growth in 2024
Sri Lanka Pavilion Showcases Diverse Products and Opportunities
The Sri Lanka Pavilion at the World Trade Expo 2024 in Mumbai showcased the country’s finest products. It highlighted Sri Lanka’s potential for export promotion and investment prospects. The pavilion aimed to strengthen ties between Sri Lanka and India.
Ceylon Spices, Coconut Products, and Dehydrated Fruits on Display
Visitors enjoyed a sensory experience at the Sri Lanka Pavilion. They savored the aroma of Ceylon spices and tasted delicious coconut products. The display also featured vibrant dehydrated fruits.
- Ceylon cinnamon, pepper, and cardamom
- Coconut oil, coconut water, and desiccated coconut
- Dehydrated mango, pineapple, and papaya
- Ceylon tea
Four Sri Lankan Companies Introduce New Value-Added Products to Indian Market
Four innovative Sri Lankan companies showcased new value-added products for the Indian market. This move strengthened investment prospects and bilateral relations.
| Company | Product |
|---|---|
| Cinnamon Exports Ltd. | Cinnamon-infused chocolate |
| Coconut Delights Pvt. Ltd. | Coconut milk powder |
| Cocoa Innovations | Cocoa butter lotion |
| Tropical Fruits Co. | Dehydrated fruit and nut mix |
These companies show Sri Lanka’s dedication to value addition and product diversification. They create exciting investment opportunities for Indian businesses. Sri Lanka aims to boost its exports and become a key global market player.
World Trade Expo 2024 Highlights Opportunities for Collaboration
Mumbai hosted the fifth World Trade Expo from October 17-18. The event promoted bilateral trade among 37 countries. It aimed to boost India’s trade with developing nations in Africa, Asia, and Latin America.
Over 100 exhibitors showcased trade and investment opportunities. The Expo focused on green energy and innovation. This aligns with India’s goal of net-zero carbon emissions by 2070.
Maharashtra plans to increase its solar power capacity significantly. By 2025, it aims to reach 12,930 MW from the current 5,080 MW.
World Trade Expo Focuses on Trade, Technology, Tourism, and Education
The Expo offered a platform for various sectors. These included trade, technology, tourism, and education. Participants explored untapped export potential worth USD 117 billion.
They engaged with 30 countries and regions at the event. This interaction opened doors for new business opportunities.
| Region | India’s Total Merchandise Trade | India’s Exports | India’s Imports |
|---|---|---|---|
| Participating Regions | 28% | 35% | 24% |
Over 30 Countries and Trade Bodies Facilitate Bilateral Engagement
Representatives from over 30 countries attended the Expo. Various trade bodies also participated. This gathering fostered cross-border collaborations and bilateral engagements.
India’s existing trade agreements provided a strong foundation. These agreements involve countries like Malaysia, Sri Lanka, and South Korea. ASEAN nations such as Indonesia, Vietnam, and Thailand were also included.
Platform for MSMEs, Women Entrepreneurs, and Startups to Explore Collaborations
The Expo offered opportunities for various business groups. MSMEs, women entrepreneurs, and startups explored potential partnerships. They connected with global counterparts and learned about technology transfers.
Emerging African economies presented promising business prospects. These included Ghana, Ethiopia, Kenya, Uganda, and South Africa. They offered opportunities in manufacturing, agriculture, and services.
The Expo aimed to foster cooperation in various fields. These included food security, energy, sustainable development, and space science. Digital economy, education, and skill development were also key focus areas.
Conclusion
The World Trade Expo 2024 in Mumbai ended successfully, fostering future collaboration between Sri Lanka and India. It provided a platform for networking and exploring new business opportunities. Participants established valuable connections across various sectors.
Sri Lankan companies displayed diverse products and services, catching Indian businesses’ attention. The expo revealed potential for bilateral trade and investment. Opportunities spanned industries like spices, coconut products, and dehydrated fruits.
Sri Lanka’s recovery from COVID-19 is aided by initiatives like the visa-free entry program. Enhanced air connectivity with countries like Pakistan will boost tourism and economic growth. The expo acted as a catalyst for partnerships and economic progress.
Sri Lankan businesses are now ready to use their new connections and opportunities. The event created a strong base for future collaborations. Economic ties between the two nations are set to grow significantly.