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Sri Lanka packaging industry in fresh surge with e-commerce and Indo-Asia-Pac market swell

September, 11, 2019

A critical group of Sri Lankan industry sub-sectors is set to reap bigger gains riding on the surges in e-commerce as well as Indian and Asia-Pacific markets. For the first time, Sri Lanka SMEs are receiving government’s direct support for their packaging efforts. Meanwhile, Colombo’s 38th international industry expo on packaging, paper and printing records the largest local and international industry supplier turnout in recent times. “Asia-Pacific has become the leading market in the global retail e-commerce packaging. This opens new opportunities for Sri Lanka’s packaging sector- especially our packaging industries who are looking to enter international markets. I call our industry to use these openings and capitalize on them” said the Minister of Industry, Commerce, Resettlement of Protracted Displaced Persons, Cooperative Development, Skills Development & Vocational Training (ICRPDPCDSDVT) Rishad Bathiudeen on 11 September. Minister Bathiudeen was addressing the launch event of 38th anniversary of the Lankapak exhibition series at BMICH. Joining Minister Bathiudeen were (HE) High Commissioner of India to Sri Lanka Taranjit Singh Sandhu, State Minister of ICRPDPCDSDVT Buddhika Pathirana, President of Asian Packaging Federation Rohan Victoria, Indian PHD Chamber of Commerce and Industry representative Rakesh Shangrai, and President of Sri Lanka Institute of Packaging Anuradha Jayasinha. One the most important industry exhibitions to take place in Colombo, the Lankapak series has been supported by Minister Bathiudeen’s Ministry and focuses on the five P’s-Packaging, Processing, Printing, Paper and Plastic. This year’s expo is attended by exhibitors from China, Hong Kong, Thailand, Singapore and India. 40 Indian companies in these sectors are a key highlight of this event. “In 2016, 40 companies from all countries took part but this year, it has grown to 87. Also this year almost 38 connected sub-industry sectors are taking part” said Minister Bathiudeen, and added: “Printing and packaging are important elements in branding Sri Lanka to global markets. In that, packaging plays an important role in our exports. As a result international packaging and safety requirements are impacting on our export packaging industry, which innovates on this. Also my Ministry with the Sri Lanka Institute of Packaging has introduced service programmes for SME’s at regional level for the first time. This is to strengthen SME value chains. As a result our SMEs have entered the packaging sector. 40 SME industries in the North and East have already been trained under the Packaging Technology Improvement Program in the first stage.”

 

High Commissioner of India to Sri Lanka (HE) Taranjit Singh Sandhu addressing the event stressed of the resilience of Sri Lankan economy. “Within a month I’ve attended five industry exhibitions here. The number of these exhibitions show the resilience of Sri Lankan economy and its people, which is truly impressive” said HE Singh and added: “In recent exhibitions here Indian companies far outnumbered companies from other countries due to their large scale. We believe that together we can achieve more. Some believe interdependency is a sign of weakness -but to me it is undoubtedly a sign of strength. Problems in today’s world are too complex to be resolved by a single country alone. India’s packaging industry is expected to touch US $ 73 Billion by 2020. This creates lots of opportunities for industries of both countries.”

 

According to Morgan Philips, throughout Central & East Asia, South East Asia & Oceania, the Asia-Pacific region packaging market “continues to enjoy strong growth with volume expected to rise by a CAGR of 5% over the 2014-2018.” According to Reuters, with the growth of online and internet shopping, the global retail e-commerce packaging market too is growing at a much faster rate-at 5.9%.

 

Photo - Minister of Industry, Commerce, Resettlement of Protracted Displaced Persons, Cooperative Development, Skills Development & Vocational Training (ICTPDPCDSDVT) Rishad Bathiudeen (fifth from right)  and High Commissioner of India to Sri Lanka (HE) Taranjit Singh Sandhu  (sixth from right)  joined by local and foreign industry leaders, launch Lankapak 2019 at BMICH on 11 September.