Sri Lankan coconut products on show first time at Saudi Agriculture Expo 2024
Daily FT: The Sri Lankan Embassy in Riyadh, in collaboration with the Coconut Development Authority of Sri Lanka, successfully organised the first-ever participation of 10 Sri Lankan companies manufacturing coconut-based products at the 41st edition of the Saudi Agriculture Expo 2024, held in Riyadh from 21 to 24 October 2024.
Sri Lankan Ambassador to the Kingdom of Saudi Arabia, Ameer Ajwad, officially inaugurated the Sri Lankan pavilion at the Riyadh International Convention and Exhibition Centre.
Addressing the gathering, Ambassador Ameer Ajwad highlighted that the participation of a large number of Sri Lankan companies manufacturing coconut-based products for the first time at this highly popular, 40-year-old Saudi Agriculture Expo in the Middle East region was a significant breakthrough. The Ambassador also urged other Sri Lankan agri-sector companies to utilise this opportunity to showcase their products in future years. He stressed that such participation would immensely help boost Sri Lanka’s export products in international markets and contribute to expanding Sri Lanka’s export basket. Ambassador Ameer Ajwad also underscored the relevance of participation by Sri Lanka’s coco peat exporting companies at the Saudi Agriculture Expo in light of Saudi Arabia’s ambitious ‘Green Initiative,’ which aims to plant 10 million trees as part of its Vision 2030. Sri Lanka’s high-quality coco peat, a preferred growing medium in arid climates, could be promoted to support such green initiatives.
Board of Directors of King Abdulaziz Reserve and King Salman Reserve Chairman’s Adviser Prince Mutab bin Fahd bin Farhan, Environment and Agriculture Ministry of Saudi Arabi Assistant Permanent Secretary Dr. Ali Alshaikhi, and Federation of Chambers of Saudi Arabia Vice President and Saudi NAF Group of Companies Chairman Fayez Al-Shaheeli, visited the Sri Lanka pavilion at the invitation extended by Ambassador Ameer Ajwad and held productive discussions.
The Sri Lanka trade delegation also had a networking session with representatives of the Saudi Green Building Forum on the sidelines of the Expo. Ambassador Ameer Ajwad hosted a luncheon in honour of the Sri Lanka trade delegation to the Saudi Agriculture Expo and held a feedback session with the delegation.
Over 370 exhibitors from 29 countries participated in this 41st edition of the Saudi Agriculture Expo, where leading agri-sector companies from around the globe showcased their products, including cutting-edge technologies and solutions in the agricultural sector. Insightful conferences and discussions led by industry experts and entrepreneurs were organised during the Expo to foster networking and create new trade opportunities among participants in the agricultural sector.
OSL take:
With Sri Lanka expanding its export crop products in the export market, coconut and coconut-based product exports have become commodities that are increasing its presence in the foreign markets. With the strong trade ties enjoyed by Sri Lanka with other foreign countries, Sri Lanka’s exports, especially coconut and coconut-based product exports are on the rise. Local export authorities are also engaged in promotional campaigns as well as encouraging local exporters to expand and diversify their existing product portfolios to capture new foreign markets. It is in such a backdrop that Sri Lanka’s exports sector is focusing on the promotion of coconut and coconut-based exports in foreign markets given the increasing demand for them in many foreign countries mainly attributed to nutritional and health benefits. The increasing local and international demand for coconuts and coconut-based products indicate a revolving business opportunity for foreign/local businesses in Sri Lanka’s coconut industry. The Sri Lankan government has also taken measures to encourage more businesses to enter the coconut plantation and related product manufacturing businesses by introducing incentive schemes. Given all these developments, foreign businesses/investors could explore the expanding business/investment opportunities in Sri Lanka’s coconut industry while also looking at the possibility of local collaborations to further expand operations in the industry.
| Article Code : | VBS/AT/20241011/Z_3 |