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Monday, September 30, 2013 - 08.10 GMT
Chinese Fortune 500 firms get bullish, on the move in SL


One hundred Sri Lankan firms of small, medium and large scales met representatives from 23 powerful Chinese firms that arrived in the country on September 25 as part of the Chinese Trade Promotion delegation to Sri Lanka.

This is the largest Chinese private sector delegation to visit Sri Lanka. The Chinese delegation is led by Jia Guoyong, the Vice Director General of Chinese Trade Development Bureau (TDB). The 36-member Chinese delegation consists of Chinese private sector representation with 23 companies taking part in glass manufacture, mining/minerals, agriculture, polymer/petroleum bi-products, chemicals an real estate. Three of the firms are in Fortune 500 list; Sinochem Group (U$ 49.5 Bn revenue), China Minmetals (U$ 37.5 Bn) and Sinosteel (U$ 27.2 Bn). Among other visiting firms are Anhui Light Industries International Co. Ltd., Zibo Honghan Trading, Shandong Hanban Household Glassware, Zibo Unishine, XinHe Commerce and Trade Refco Group, Hebel Kalifa Glassware, AVIC International Holding CITIC International, Chinatex, China National Township, Sinosteel Raw Materials, Sinochem, Guangdong and Sinochem Plastics.

During the Sri Lanka China Business Meeting the B2B matchmaking sessions facilitated by EDB, the Chinese firms met 100 Sri Lankan firms for potential partnership of diverse sectors of interest. Among the potential partnership avenues discussed were overall trading, importing from Sri Lanka, exporting to Sri Lanka and business joint ventures.

Among the business sectors at play at the B2B session were chemicals, petroleum and fuel refining, activated carbon, metals (including non-ferrous), agriculture, financial services, rubber and rubber products, plastics, activated carbon, glass and real estate.

"We had very good, very successful meetings. We also identified one Sri Lankan partner firm for trading in Activated Carbon," said Anqi Fu, the Business Manager of CITIC International. "The next step is to identify the exact product categories. We will start buying through the Sri Lankan partner from as soon as possible once the agreements finalised."

"We had discussions with no less than 45 Sri Lankan companies," said Wang Zhi Jie, Assistant Manager- Strategic Planning of Beijing's Snochem Group. "There was a strong demand from many Sri Lankan firms to partner with us. We are focusing on chemical products and fuel refining. We listed several Sri Lankan firms for partnership possibilities demanding refining services from us. We have an annual refining capacity of 1200 tonnes. We also have positive negotiation outcome for partnership with one Sri Lankan rubber supplier for Sinochem's rubber plant in China. We are ready to start buying as soon as Sri Lankan firm's quotation is approved by our Sinochem offices. We are also looking for both import as well as export trading," Jie added.

Han Ven Han, Manager Operations, Beijing's Sinosteel Metals said: "We had many rounds of discussions with seven Sri Lanka firms. And our cooperation prospects are looking good."

We are looking for mineral sourcing from Sri Lanka as well as partnering in logistics and services. Within logistics, we are looking specifically for transport, warehousing and in the general value chain of logistics.

We are still at fact finding stage and in discussion with the seven companies and we will make our decision back home based on what we learn here. We will also look into the possibility of investing in Sri Lanka on logistics.

Sri Lanka's geographical and marine location is very strategic for logistics, which is the reason we are interested. We also want to source metals from Sri Lanka."

Gua Honghai, Administrative Officer of China Minmetals Non-Ferrous Metals Co. Ltd is keenly sourcing for non-ferrous metal supplies from Sri Lanka in large volumes. "We are looking to buy non-ferrous metals in large quantities."

"I also think Sri Lanka should learn from Singapore as to how to use your very distinct, strategic geographical location advantage to make it a maritime transport hub."




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Last modified: September 30, 2013.

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