Lanka Business Online
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The fair is meant to show the world the new prospects for investment and trade in Sri Lanka after the end of its 30-year ethnic war in 2009, he said at the opening of Expo2012.
"Your presence in large numbers is truly encouraging and is a promise of future progress in our development," he told foreign delegates.
"The magnitude and arrangement of exhibits make it very clear that Sri Lanka is fully open to business."
Sri Lanka is a strategically important economic centre in the region, free of conflict, open to trade, and not held back by tough regulation with government encouraging the private sector," Rajapaksa said.
"That is why foreign direct investment has doubled. This year net inflows into the stock market are encouraging."
The Expo 2012 fair targets merchandise exports, services and investment with the travel trade and information technology and business process outsourcing firms also among the 370 exhibitors.
More than 1,300 foreign visitors had registered to attend the fair, Rishad Bathiudeen, Sri Lanka’s Minister of Industry & Commerce, said.
Export Development Board chairman Janaka Ratnayake said that after the end of the war Sri Lank is now in a position to attract new investments and boost tourism.
Despite the European debt crisis, sluggish world economy, and unrest in the Middle East, Sri Lanka is very resilient, he said.
"It is our aim to sustain and attain exports of 15 billion US dollars by 2015."
Trade delegations from USA (35 members), UAE (50), UK (45), Belgium (25), Singapore (35), Thailand (40), Malaysia (40), Korea (30), Pakistan (20), France (10), Russia (10) and Germany (10) will be attending.
China with 150 and India with 120 will be among the largest delegations. Ministerial delegations from Bangladesh, China, India, Korea, Maldives, Pakistan and the UAE are participating.
Among the large buyers who have already confirmed are Walmart Global Sourcing, ASDA, Arcadia, H & M, Victoria's Secret, Bhs, M&S, Calzedonia, Lulu and Carrefour, the export agency said.
At a trade and investment symposium will kick off on March 29, with international co-operation minister Sarath Amunugama and Central Bank governor Nivard Cabraal.
Jean-Marie Paugam, deputy executive director ITC, Geneva; Sandro Venonesi, chairman Calzedonia, Italy; Mark Harris, general manager London Stock Exchange group Iran Ogilvie, global head of business services, HSBC, will be participating.
The Commonwealth Secretariat will hold a workshop on international investment agreement negotiations and trade.
© LBO
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