The 8th consecutive Jaffna International Trade Fair (JITF 2017), the largest Consumer Exhibition concluded at Jaffna last week, ended with a record of over 300 stalls.
One of the highlights of the event was the presence of a special 75 member delegation from India to explore the trade and investment opportunities. This delegation was sponsored and hosted by ASSOCHAM of India (The Associated Chamber of Commerce in India) with a member base of over 475,000.
“The Northern Province has been a fast growing province among all provinces. For example in 2011-2012 Northern Province GDP growth was a huge 26%. In 2012-2013 it was 12.1%. In the latest 2014-2015 data the highest provincial GDP growth reported equally by two provinces and I am pleased to say that the Northern Province is one of these two leading “GDP growth provinces”, at 12.1% YoY growth,” said Minister of Industry and Commerce Rishad Bathiudeen.
Chamber of Commerce and Industry of India (ASSOCHAM), Vinay R Sharma addressing the event stressed the entry of his Chamber to Sri Lanka in a pioneering initiative. “This is the first time ASSOCHAM is entering Sri Lanka in this way and we are here to partner with Sri Lankan businesses in joint ventures, partnerships and even new business openings in many sectors including automotives and textiles” said Sharma.
Founder Chairman of Jaffna International Trade Fair, Kosala Wickramanayake reminisced of the humble beginnings of LECS: “JITF was launched in 2010 in Jaffna with less than 50 stalls and amidst many obstacles –such as the inability to easily enter the peninsula from Colombo as a result of lack of access through A9 Highway,” said Wickramanayake.
Consul General of India in Jaffna Shri. A. Natarajan hinted of the need for drawing more FDI to North. “An aluminium production facility has been commenced in the North successfully. Still, this is not enough. Jaffna has much more potential to grow and Indian investors from ASSOCHAM are here to support so that the country’s production and exports would grow further.”
National Chamber of Exports (NCE) CEO, Shiham Marikar said that NCE has been regularly participating at the JITF during last four years. “We support the objective of this event - bringing economic prosperity to the people in the North.”
He said that the NCE endorses the JITF because the event as it provides us the opportunity to further develop business linkages between member exporters of the Chamber and Producers in the North.
“The event also provides the platform to meet business partners, and investors, establishment of linkages with the different state institutions and policy makers for business development at a time when Sri Lanka is focusing policy and political approaches to promote reconciliation and opportunities for private investments in the region.”
“This year members of the chamber have taken 10 stalls and they are exhibiting at the event.”
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