Business
Sri Lanka to target 322 new products for export in 2024 with focus on spices
By Ifham Nizam
Sri Lanka will target at least 322 new products at export level in 2024. “That would be our target in the ‘One Village One Product’ project, said State Minister of Investment Promotion Dilum Amunugama.
Speaking at a United Nations Industrial Development Organization (UNIDO)- organized conference titled, “Spice Horizons: Tracing the Legacy of Protected Geographical Indication (PGI) on Ceylon Cinnamon and the Future of Other PGI Products for Agricultural Export Development” on Tuesday at the Water’s Edge, he thanked the European Union, UNIDO and the United Nations for support in investment promotion and overall assistance to Sri Lanka.
Highlighting Sri Lanka’s spices and the sector’s potential for export opportunities and trade development, Amunugama said that due to the inherent quality of Ceylon spices, the sector has the potential to enhance value addition, meet the demands of international high end markets and promote technology adaptation.
The event, organized with support from the Delegation of the European Union in Sri Lanka and the Maldives and the Standards and Trade Development Facility (STDF), will build on the success of Sri Lanka’s first ‘Protected Geographical Indications for Ceylon Cinnamon’ project (PGI) with the European Union (EU), he noted.
At the event, UNIDO also presented a new project proposal to expand the global reach of Ceylon spices and other agricultural commodities with PGI potential, such as pepper, coffee, pineapple, coconut and cashew, where the PGI Ceylon Cinnamon model can be replicated and scaled up for quality-led export development.
Institute of Policy Studies of Sri Lanka, Research Economist Dilani Hirimuthugodage, a panelist at the discussion, speaking to The Island Financial Review: “I think it is important for them to also focus on strategies to attract youth to agriculture mainly to the spice sector by giving them proper training and identity (make their self-esteem), strategies to strengthen the spice value chain with good linkage among each stage mainly to avoid asymmetry in information, encourage new technology by introducing smart agriculture, promote and market Ceylon GI, etc. are some of them.”
“The EU has worked with UNIDO on several projects in Sri Lanka supporting the agri-food sector. We are happy to see tangible outcomes such as the Ceylon Cinnamon PGI materialize, stated Dr. Johann Hesse, Head of Cooperation for the EU Delegation to Sri Lanka and the Maldives. “The proposed project will build on the success of the EU-funded ‘Best Standardized Practices for the Agri-by Food Sector Development’ (BESPA-FOOD) project, implemented by UNIDO jointly with the Food and Agriculture Organization (FAO).”
The proposed project will draw on UNIDO’s 2023 ‘Value Chain Analysis on Pepper, Clove, and Nutmeg in Sri Lanka’ also funded by the STDF, which identifies the gaps in food safety and quality, starting from farmgate to distribution on channels and right up to the retail market. The analysis outlines the necessary conditions to access international markets and gain a competitive advantage in international trade.
Dr. Jairo Villamil-Diaz, International Senior Technical Specialist, UNIDO said, “UNIDO worked closely with the Department of Export Agriculture (DEA), the Export Development Board (EDB), the Spice Council (TSC), the Spices and Allied Products Producers’ and Traders’ Association (SAPPTA), and other key public and private stakeholders, tirelessly striving to secure the PGI registration for Ceylon Cinnamon. We also provided similar support for Ceylon Tea. Now, Sri Lanka can leverage these learnings to ensure that other spices, like pepper, cloves, nutmeg/mace, and coffee become integral parts of the global food supply chain.”
In collaboration with the Ministry of Agriculture and Plantation Industries, Ministry of Industries, and State Ministry of Investment Promotion, the proposed project will guide Sri Lanka’s agricultural sector towards quality-led export growth, supporting upstream actors in securing quality-based price differentials, improving price predictability and expanding access to premium markets. Additionally, UNIDO will continue to support the development of Ceylon Cinnamon, providing strategic guidance to further enhance the sector’s global standing, including in securing PGI registration in other high-end markets.
Business
Cabinet approves submission of the Annual Economic Analysis of the Central Bank of Sri Lanka for the year 2024 to the Parliament
The Cabinet of Ministers has approved the proposal forwarded by the President in his office as the Minister of Finance, Planning and Economic Development to submit the Report on the Annual Economic Analysis of the Central Bank of Sri Lanka for the year 2024 to the Parliament.
As per section 80 (3) of the Central Bank of Sri Lanka Act No. 16 of 2023, the Minister in – charge of the subject of Finance shall submit a report on the economic situation which prevailed within the particular financial year, within four months after completion of each financial year. Accordingly, the report in relation to the financial review of the Central Bank of Sri Lanka for the year 2024 has been submitted to the President. The report has envisaged macro economic trends of Sri Lanka, situation of the financial system, as well as the major developments and a review of the policies of Central Bank of Sri Lanka.
[DGI]
Gigalingua Lanka, a premier German language institute, officially launched in Colombo with a ribbon-cutting ceremony attended by distinguished guests, including Dr. Felix Neumann, German ambassador to Sri Lanka. This marks a significant milestone for Sri Lankan professionals, especially nurses, looking to expand their careers in Germany’s thriving healthcare sector.
In collaboration with its strategic partner Global Care Solutions (Pvt) Ltd – a renowned company in the foreign recruitment industry – Gigalingua Lanka offers a unique pathway for Sri Lankan nurses and apprentices to master the German language and pursue rewarding career opportunities in Germany.
Dr. Felix Neumann, the Chief Guest at the event, expressed his support for the initiative, emphasizing the importance of language education as a bridge to global career prospects. In his speech, Dr. Neumann noted, “German language is not only a means of communication, it is a gateway to global career opportunities.” He commended Gigalingua Lanka for providing valuable opportunities for Sri Lankans and addressing the critical demand for skilled workers, especially in the nursing sector in Germany.
Gigalingua Lanka is the first private institute in Sri Lanka to offer comprehensive German language training up to the B2 level, and conduct TELC exam. The institution also provides language training for apprentices, allowing them to undertake the Apprenticeship Program and contribute to the growing labor market in Germany. The collaboration between Gigalingua Lanka and Global Care Solutions is designed to meet Germany’s growing need for skilled workers, particularly in the healthcare sector.
The event was attended by a number of prominent figures, including Dr. Felix Neumann , Arthur Senanayake (chairman of IWS Holdings), Eran Wickramaratne – former MP, Chandra Schaffter – ( Founder of Janashakthi Insurance ), Dhammika Attygalle (Director Upali Group of Companies and President Automobile Association of Ceylon) Former Wing Commander Buwaneka Abeysuriya (Ex- chairman Janatha Estates Development Board).
Chairman of Global Care Solutions, Thomas Michael Kriwat, who is also chairman of the Mercmarine Group of Companies in Germany, highlighted the significance of the new training center. He said, “We are bringing world-class German occupational language training to Colombo, offering a structured, career-focused pathway for Sri Lankan professionals. By introducing TELC (The European Language Certificates) as an officially certified German language test authority, we are increasing accessibility for students seeking internationally recognized qualifications.”
At the thanksgiving speech, Dr. Rajan Sara, Managing Director of Global Care Solutions and Director of Gigalingua Lanka, outlined the critical need for foreign nurses in Germany. “Germany is facing a significant shortage of nurses, estimated to need an additional 150,000 by 2025. This is exacerbated by an aging population and increasing healthcare demands. Over 47,000 vacancies in the healthcare sector remain unfilled, making it an ideal time for Sri Lankan nurses to seize this opportunity,” Dr. Sara explained. (Gigalingua Lanka)
In keeping with its vision to consistently evolve and address accelerated business growth needs, Brown & Company PLC recently unveiled its new state-of-the-art manufacturing and warehouse facility in Katunayake. Strategically located within minutes of the Bandaranaike International Airport and the nation’s rapidly evolving highway network, the space is positioned to significantly enhance Browns’ logistical capabilities. The hub will enable seamless access to key markets across the island, further solidifying the Company’s principal role in a cross-section of industries.
The inaugural event of the Browns Group Industrial Park was attended by Ishara Nanayakkara, Chairman, Brown & Company PLC and Deputy Chairman, LOLC Holdings PLC and Kapila Jayawardene, Group Managing Director/CEO, LOLC Holdings PLC along with key officials from the Browns and LOLC Group.
Maintaining public trust is a fundamental responsibility of the Police Department – President
Submission of gazette notifications for the concurrence of the Parliament.
Cabinet approval to prepare new Act for securing the rights of plant species
-
Business2 days agoColombo Coffee wins coveted management awards
-
Features3 days agoStarlink in the Global South
-
Business4 days agoDaraz Sri Lanka ushers in the New Year with 4.4 Avurudu Wasi Pro Max – Sri Lanka’s biggest online Avurudu sale
-
Business5 days agoStrengthening SDG integration into provincial planning and development process
-
Business4 days agoNew SL Sovereign Bonds win foreign investor confidence
-
Sports6 days agoTo play or not to play is Richmond’s decision
-
Features3 days agoModi’s Sri Lanka Sojourn
-
Sports5 days agoNew Zealand under 85kg rugby team set for historic tour of Sri Lanka