Business
Transforming tenacity & resilience into opportunity
Powerful message at SLASA AGM aimed at rebuilding industry for 2025 target of USD 8 Bn Build on relationships, emphasize on service & adaptability, become preferred destination
The Sri Lanka Apparel Sourcing Association held its 25th Annual General Meeting recently under the aegis of the Charge d’Affaires of the EU Thorston Bargfrede for the post-business session. Wilhelm Elias was re-elected Chairman, while the Vice Chairmen elected were Shweta Dhir and Azmina Kareem, Treasurer Denver Jayasundara and Secretary Gayan Galapitige as office bearers for the year 2022/23. Gopal K Iyer was appointed Secretary General for the Association.One of the most powerful messages emerging from Chief Guest Bargfrede, Chairman Wilhelm Elias and the Vice Chairmen Azmina Kareem and Shweta Dhir, was that while the apparel industry had shown extraordinary tenacity and resilience through COVID and the economic crisis well evidenced by the good export results Sri Lanka was showcasing in 2022, there was a need to transform and that too with urgency.
Commending SLASA members for demonstrating the maturity of the industry and emerging stronger and more vibrant post the pandemic, Elias described the rapid transformation seen within the industry during the economic crisis as truly remarkable. “We adapted to new ways of doing business while also keeping the country’s needs a priority. There was no rule book to work on but business leaders demonstrated how the industry was flexible and quick to adapt while reaffirming Sri Lanka’s reputation of being a safe pair of hands.”
He added that in the next half of 2022, external forces are emerging, prompting a drop in numbers with galloping inflation west, customers being over-stocked and disposable income reducing. Elias said competitor countries will hard to keep business they gain from Sri Lanka even temporarily and hence, the industry must ensure that buyers are given good reason to move back to Sri Lanka. “In the larger picture, all apparel manufacturing countries are seeing an organic decline in business levels and we need to be conscious of reducing prices.”
Vice Chairman Azmina Kareem had similar sentiments, augmenting Elias’ message that the industry needs to focus on opportunity. “Firstly, it’s about service and adaptability,” she explained. “Customer expectations are moving beyond to an end to end service model and suppliers are being empowered to do more for brands which is the bigger expectation of the brands. The traditional buyer-supplier relationship is diminishing.” She also emphasized a rebranding for Sri Lanka as a trading destination, taking advantage of the short transit times and cost competitiveness
Vice Chairman Shweta Dhir detailed a three-pronged approach. “Fabric sourcing needs to be diversified; we must hedge our risks with a healthy mix of near shore and indigenous fabric sourcing, focusing on aesthetics together with innovation. And the conscious consumer is here to stay which, with Sri Lanka being far ahead in terms sustainability initiatives, we can be the first port of call for many labels who plan to become transparent and responsible. Thirdly, we must showcase our product strengths, creating showrooms with shipped products constantly re-quipped with newness and market intelligence to buyers – sufficient with just sketch, swatch and digital representations.”
To meet the industry target of USD 8 billion by 2025 and determined to rally the troops, Elias stressed the need for relationship building which will come under stress in the months to come. “We are not the most cost-effective country, but we must transform our renowned resilience and tenacity into opportunity by building on our strengths and re-thinking our strategy, keeping that foundation of relationship building strong.”
Contact Secretary General Gopal Iyer on +94 777 556028
Business
PM ‘Rings the Bell’ at CSE to champion financial literacy and investor education
As part of World Investor Week (WIW) 2026, the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) joined stock exchanges around the world in ringing the market opening bell for financial literacy on 5 October 2026, under the patronage of Dr. Harini Amarasuriya, Prime Minister of the Democratic Socialist Republic of Sri Lanka.
World Investor Week is an annual global campaign led by the International Organization of Securities Commissions (IOSCO) to raise awareness of the importance of investor education and investor protection. The “Ring the Bell for Financial Literacy” initiative, pioneered by the World Federation of Exchanges (WFE), brings together stock exchanges and other stakeholders worldwide to promote greater financial literacy and encourage individuals to make informed financial decisions.
The ceremony also marked the 40th anniversary of the CSE and the joint launch by the SEC and the CSE of the Stock Market Game, an online stock market simulation based on the ATrad trading system.
The Stock Market Game enables participants to gain practical experience of how the stock market works, make investment decisions and construct portfolios of listed shares without using real money. The platform is accessible through the websites of the SEC and CSE and is expected to serve as an important practical tool for promoting financial education. It is envisaged that the Stock Market Game will also be used to conduct simulation competitions among universities and the 100 Capital Market Clubs established in schools across the country.
The ceremony also featured the commemorative issuance of a stamp and First Day Cover to mark the 40th anniversary of the CSE. Issued in collaboration with the Department of Posts and the Philatelic Bureau of Sri Lanka, the commemorative stamp and First Day Cover were presented to Prime Minister Dr. Harini Amarasuriya, by the SEC Chairman Snr. Prof. D.B.P.H. Dissabandara and Ray Abeywardena, Director CSE and Chairman of Central Depository Systems (CDS).
Welcoming the gathering, Rajeeva Bandaranaike, Chief Executive Officer of the CSE, highlighted the importance of obtaining reliable information when making investment decisions.
“We operate in a digital world where a vast amount of information and data is disseminated through social media. While some of this information is factual, some may be inaccurate or misleading. When investing in the stock market, it is essential to make informed and prudent investment decisions. Therefore, investors should obtain information and data from reliable and responsible sources and persons before making investment decisions.”
Addressing the gathering, SEC Chairman Snr. Prof. D.B.P.H. Dissabandara emphasised that the SEC’s role extends beyond regulation to facilitating the further development of the capital market.
“The SEC needs to determine how best to introduce the stock market to Generation Alpha, Generation Beta and generations beyond. When it comes to investors, we need to build confidence in the market, because people will invest only when they have confidence in the market.’’
Business
Rs. 5 million worth of prizes to be given at 8th edition of CSE Masterminds Quiz Competition
The Colombo Stock Exchange (CSE) has announced that the eighth edition of the CSE Masterminds Quiz will be held on 9th October 2026, from 3.00 p.m. onwards, at the Main Ballroom, Shangri-La Colombo.
Recognised as Sri Lanka’s premier capital market quiz competition, CSE Masterminds brings together teams from the public and private sectors. Participants will be tested across international business, global markets, current affairs, the Sri Lankan economy and business, the Sri Lankan stock market, and sports and entertainment, before a concluding rapid-fire round.
This year the winning team can win up to Rs. 2,000,000, the runners-up up to Rs. 1,000,000, and the second runners-up Rs. 750,000. Sector awards will also be presented to the highest-performing team from each participating sector. Guest participants will also be able to compete in rounds of Audience questions, and will have the opportunity to participate a raffle draw for three free return tickets provided by Fits Aviation (Pvt) Ltd.
The evening will also include an exclusive after-party with live music provided by the band ‘Doctor’ featuring guest performer Umara Sinhawansa, fine food and beverages, providing an opportunity for networking and celebration. Every participant will receive a premium goodie bag made possible by the support of the event’s sponsorship partners. Collectively, the event will feature over Rs. 5 million worth of prizes, rewards, and giveaways, encompassing championship prizes, sector awards, audience engagement prizes, raffle draw offerings, and goodie bags.
Sponsorship partners include:
Platinum Sponsors: Hatton National Bank PLC and Bartleet Religare Stockbrokers (Pvt) Ltd.
Gold Sponsors: Ex-Pack Corrugated Cartons PLC, Asha Securities Ltd., and Lanka Securities (Pvt) Ltd.
Silver Sponsors: Barista Coffee Lanka (Pvt) Ltd., Capital Trust Holdings (Pvt) Ltd., LOLC Holdings PLC, Arpico Ataraxia Asset Management (Pvt) Ltd., IronOne Technologies (Pvt) Ltd., and LankaPay (Pvt) Ltd.
Co-Sponsors: Access Engineering PLC, Bank of Ceylon, Commercial Bank of Ceylon PLC, CryptoGen (Pvt) Ltd., Deloitte Lanka (Private) Limited, Dialog Finance PLC, Efutures (Pvt) Ltd., People’s Leasing & Finance PLC, Senfin Asset Management (Pvt) Ltd., and Softlogic Stockbrokers (Pvt) Ltd.
Business
NCCSL to conduct practical workshop on food labelling and advertising regulations in Sri Lanka
The National Chamber of Commerce of Sri Lanka (NCCSL) is organizing a one-day practical workshop on “Food Labelling & Advertising Regulations in Sri Lanka” on Thursday, 8th October 2026 from 9.00 a.m. to 4.30 p.m. at the National Chamber of Commerce, Colombo 10. The workshop has been organised to provide a practical understanding of the latest regulatory requirements governing the food products labelling and advertising of food products in Sri Lanka, with particular attention to regulatory developments applicable in 2026, compliance requirements, and the potential legal and financial implications of non-compliance.
As food products increasingly compete not only with quality and price but also on packaging, labelling and promotional claims, businesses must ensure the information they communicate to consumers is accurate, transparent and consistent with applicable regulatory requirements. Understanding these requirements is therefore essential for businesses seeking to protect their brands, maintain consumer confidence, and minimize regulatory and legal risks.
The practical workshop will go beyond an overview of regulations and focus on how businesses can apply regulatory requirements in their day-to-day operations. Participants will be guided through key areas of food regulatory compliance, including the national food regulatory framework, recent food labelling regulations and key changes, mandatory approvals and prohibitions relating to food labelling, and the litigation process associated with regulatory violations. The programme will also cover several areas of growing importance to the food industry, including the EU EMPCO Directive, food colour coding regulations, regulations relating to food trans-fatty acids and the importance of compliance in the use of food additives. Practical exercises will further enable participants to apply their knowledge to real-world compliance situations and strengthen their ability to identify potential regulatory concerns.
For further information and registration, please contact the National Chamber of Commerce of Sri Lanka on 011 4741788 – Nethmi or Udula – 071 403 4775.
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