Sri Lankan economy and the vehicle population is growing rapidly, said Minister of Minister of Transport And Civil Aviation Nimal Siripala De Silva.
Similar to the motor industry the Sri Lankan aviation sector too is making progress with several new domestic airports to open regionally, he said.
Speaking at the inauguration of the inaugural Lanka Auto 2018 Expo at SLECC the Minister said the Sri Lankan economy despite challenges in 2017 has made major progress. Sri Lanka’s economy is expected to grow at 4.2% in 2018 and further expand to 4.8% in 2019.”
“As we transit into a more competitive, inclusive and resilient upper-middle income country, it is imperative that we also undertake initiatives and implement effective strategies that will upgrade the country’s automotive industry into an international hub in the South Asia region.”
“Furthermore, the rapid rise in Sri Lanka’s motor vehicle population is a positive indicator as to the direction the industry is heading.”
The Minister said that according to reports it has been reported that even with a human population of a little over 21.4 million in 2017, the country’s vehicle population increased by 7% from a year earlier to 7.2 million in 2017.”
He said that several international motor components manufacture and other automotive suppliers are participating in the exhibition in large numbers, and that too is an indication that the Sri Lanka auto industry is making rapid progress.”
The Minister said that similar to the motor industry the Sri Lankan aviation sector too is making progress with several new domestic airports to open regionally.
Sri Lanka would also have a fully elevated Light Rail Transit (LRT) system in Colombo which is set to revolutionise Sri Lanka’s transportation system.
“Lanka Auto Expo will provide the perfect opportunity for business end users to browse and buy new equipment and products for their business. Not only will they be able to see the widest international range of products for their business, they will also be able to pick up many special offers and discounts at the show,” said Darren Siow, Project Director of AMB Tarsus Events Group, the organiser of Lanka Auto.
The event showcased over 150 international brands and companies with products in the auto parts and servicing industry. “At the same time, the exhibition allows local importers of automotive parts, accessories and eequipment to build new partnerships with international suppliers looking to bring their products for the first time into the Sri Lankan market.”
Lanka Auto 2018 is a part of an international series of trade exhibitions for the automotive aftermarket industry organised by AMB Tarsus Events Group.
It hosted similar events in Philippines, Cambodia, Myanmar, Laos and Bangladesh.
The event was hosted by the Lanka Motor Spare Parts Dealers Association, and was also supported by the Sri Lanka Automotive Component Manufacturers Association, Sri Lanka Automotive Service Providers Association and the Institute of Automotive Engineers of Sri Lanka. (SS)
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