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
Indo-Sri Lanka Chambers forge alliance to drive infrastructure and real estate investment
By Sanath Nanayakkare
In a major boost to bilateral economic ties, the Chamber of Construction Industry of Sri Lanka (CCISL) and the Indo–Sri Lanka Chamber of Commerce & Industry (ISCCI) have signed a strategic Memorandum of Understanding (MoU) to deepen cooperation in real estate, infrastructure, and urban development.
The agreement establishes a formal framework for both institutions to drive collaborative initiatives, including business delegations, high-level conferences, workshops, B2B matchmaking sessions, and technical site visits. Designed to bridge businesses, government institutions, and project stakeholders across the Palk Strait, the partnership aims to unlock new avenues for cross-border joint ventures and technology transfers.
A focal point of this newly minted partnership is the facilitation of an upcoming trade delegation from the National Real Estate Development Council (NAREDCO) of India. Comprising major Indian players in the real estate and infrastructure sectors, the visiting delegation will engage in targeted business meetings, workshops, and inspection tours of prominent construction projects in Sri Lanka.
Under the terms of the MoU, CCISL will serve as the principal host coordinator in Sri Lanka. In close consultation with ISCCI, the apex construction body will curate itineraries, identify viable projects for engagement, and facilitate high-level dialogues with key government agencies, regulatory bodies, and industry leaders.
With both nations prioritizing sustainable urban growth, modern construction technologies, and infrastructure expansion, industry leaders view the partnership as a timely catalyst for economic rejuvenation. The collaboration is anticipated to accelerate market access, knowledge exchange, and foreign direct investment into Sri Lanka’s burgeoning property and development sectors.
To ensure the success of the upcoming NAREDCO delegation, CCISL has issued an urgent appeal to statutory authorities and relevant project owners to come forward with viable investment proposals. Stakeholders holding projects seeking foreign investment or technical partnerships are invited to submit comprehensive details to the Secretary General and CEO of CCISL via email at secyces@gmail.com.
Both chambers emphasize that translating this foundational agreement into tangible partnerships and robust capital flows will significantly strengthen bilateral connectivity between the construction and real estate sectors of India and Sri Lanka.
Business
Hettich celebrates a decade in Sri Lanka with partner meet in Colombo
Hettich, the globally renowned German manufacturer of furniture fittings and architectural hardware known for its state-of-the-art manufacturing plants and magical interior solutions across the world celebrated a significant milestone in Sri Lanka, marking 10 years of presence in the country with its inaugural Partner Meet in Colombo.
The landmark event brought together Hettich’s key partners, stakeholders and industry leaders to celebrate a decade of growth, collaboration and shared success, while reaffirming the company’s long-term commitment to the Sri Lankan market.
Over the past decade, Hettich has strengthened its presence in Sri Lanka through its focus on German engineering, innovation, quality and functionality, contributing to the creation of contemporary and intelligently designed living and working spaces across the country.
The gala evening was graced by a distinguished delegation of senior leaders, including Dr. Andreas Hettich, Chairman, Hettich Group Advisory Board; S. K. Poddar, Chairman, Hettich India & Adventz Group; Mr. Akshay Poddar, Director, Hettich India; Andre Eckholt, Managing Director, Hettich India, SAARC, Middle East & Africa; Rahul Thakkar, Director – Sales, Hettich India & SAARC; and Dinusha Bhaskaran, Managing Director, Vallibel One PLC.
Business
GS Evo Motors launches all-new JMEV EWIND
GS Evo Motors Limited, the authorized distributor of JMEV electric vehicles in Sri Lanka, has officially launched the JMEV EWIND, a next-generation compact electric SUV. The vehicle is designed to offer strong performance, intelligent technology, premium comfort, and high safety standards, marking another milestone in Sri Lanka’s growing electric mobility sector.
The EWIND features a sleek, aerodynamic exterior with penetrating LED daytime running lights, trapezoidal chain-inspired LED tail lamps, 19-inch alloy wheels, and a bold silhouette. Inside, it offers a spacious cabin with a panoramic moonroof and retractable curtain, an ultra-thin suspended instrument panel, a D-shaped multifunction steering wheel, multi-colour ambient lighting, premium finishes, and electrically adjustable front seats.
The SUV is available in single-motor front-wheel drive configurations, producing up to 108 kW and 210 Nm, with 0–100 km/h acceleration in 8.9 seconds.
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