Sri Lanka moves to register Ceylon Cinnamon brands globally
The Morning: Steps are being taken to register the Pure Ceylon Cinnamon logo and the Ceylon Spice brand in foreign countries under the Madrid Protocol, the Export Development Board (EDB) reveals.
Speaking to The Sunday Morning Business, EDB Chairman Mangala Wijesinghe revealed that the Department of Cinnamon Development would be taking steps to register the Pure Ceylon Cinnamon logo and the Ceylon Spice brand in foreign countries under the Madrid Protocol.
This will be done in order to promote Ceylon Cinnamon and other spices once Sri Lanka signs the protocol.
Commenting further on the promotional activities that are in the pipeline to promote Ceylon Cinnamon, he revealed that the Department of Cinnamon Development would be partnering with the Japan International Cooperation Agency (JICA) to expand exports and promote cinnamon in developed markets, including Japan.
Wijesinghe further stated that steps would be taken to launch a Geographical Indication (GI) cinnamon promotional campaign with support from the International Finance Corporation (IFC).
Commenting on the steps being taken to expand Ceylon Cinnamon production, he revealed that measures would be taken to “implement gap filling in current plantations to enhance productivity, including the provision of subsidised jambo plants and to establish a fertiliser subsidy programme, as plantations have lacked proper fertilisation for the past four years”.
He further revealed that while steps were being taken to initiate a replanting programme for ageing cinnamon, they were also looking to develop cinnamon plantations in non-traditional regions, such as Mahaweli, Anuradhapura, and Polonnaruwa.
Former President Ranil Wickremesinghe, as the Minister of Finance, announced during the 2024 Budget speech: “Registering trademarks in several countries is costly in terms of time and money. We are working to accede to the Madrid Protocol, which will make registration quick and easy. This is crucial to increase the competitiveness of Sri Lankan brands and increase the value of Sri Lankan export products.”
OSL take:
Sri Lanka is in the process of diversifying and expanding the country’s export product portfolio and Ceylon Cinnamon is fast becoming an export commodity making its way to new foreign markets. The EU has already opened its market for Ceylon Cinnamon, which is expected to capture global markets like Ceylon Tea. The many trade agreements and trade concessions enjoyed by Sri Lanka with many foreign countries have also helped the growth and expansion of Ceylon Cinnamon industry. This in-turn has resulted in the expansion of business/investment opportunities in the country’s cinnamon industry. Apart from the strong trade ties enjoyed by Sri Lanka, the local export authorities have also introduced many incentives to attract foreign businesses/investors to the country’s exports sector, especially Ceylon Cinnamon. Given the growing business potential in Sri Lanka’s cinnamon industry, foreign businesses/investors could confidently explore the expanding business/investment opportunities in the industry. Foreign businesses could also look at forming partnerships with local businesses engaged in the cinnamon industry to further expand operations while using Sri Lanka’s trade ties to expand globally as well.
| Article Code : | VBS/AT/28112024/Z_1 |