Opportunity Sri Lanka | » Sri Lanka to manufacture alternatives to plastic following ban
Sri Lanka to manufacture alternatives to plastic following ban

Sri Lanka to manufacture alternatives to plastic following ban

The Morning: With the plastic ban that has come into effect 1 October onwards, the Government of Sri Lanka is to encourage the Small and Medium (SME)-sector entrepreneurs to manufacture sustainable alternatives locally to contribute to the demand that has been created.
State Minister of Small and Medium Enterprises Development Prasanna Ranaweera made these remarks at a recent media conference held at the President Media Centre (PMC) at Presidential Secretariat premises.
“We need to locally produce alternatives to plastic, while our (Ministry’s) aim is to manufacture alternatives to import and export-oriented products relative to the global demand. The National Design Centre, National Crafts Council, and Laksala are also contributing to this venture in generating entrepreneurs from rural areas.”
The goods that were subjected to the plastic ban by the Central Environmental Authority (CEA) were single-use plastic – an array of products such as single-use plastic straws and stirrers, single-use plastic plates, cups (except yoghurt cups), knives, spoons (including yoghurt spoons) and forks, plastic flower garlands, and plastic string hopper trays.
Speaking to The Daily Morning Business, CEA Chairman Supun S. Pathirage said in August that the initial ban on plastic was to take place in June parallel to the World Environment Day (5 June) this year, however, a grace period was given until 1 October to clean up the stocks.
State Minister Ranaweera noted that there is a global demand for environmentally-friendly products in accordance with sustainable development goals, noting that Bangladesh also declared a ban on plastic.
Traditional craft market alone has been able to generate around $ 789 billion globally last year (2022) and by 2028, it is expected to generate $ 1 200 billion. It would be an achievement if Sri Lanka can make sales of at least $ 1 billion, he added.

OSL take:
Environment friendly and sustainable policies adopted by the government of Sri Lanka has created new business/investment opportunities in presenting alternatives to the local market. The many trade agreements as well as trade concessions enjoyed by the country are an added advantage for the businesses engaged in the country’s manufacturing as well as export sectors. The supply of alternatives to plastic to Sri Lanka is a vast business given the current demand for plastic products. Foreign businesses/investors engaged in the manufacture and supply of environmentally friendly and sustainable products could explore the possibilities entering Sri Lanka’s manufacturing industry. They could also look at forming partnerships or joint ventures with local businesses engaged in the manufacturing industry to expand product portfolios and further expand operations.

Share this:

Article Code : VBS/AT/20231011/Z_3

    For More Info and Help

    Leave a Comment