Aug 30, Colombo: As the first ever Global Rubber Confab to be held in Sri Lanka is announced on August 28, the country has positioned its historic rubber industry to be a US$ 3 billion sector.
"We are now aiming at an ambitious $3B rubber industry in the coming decade. To arrive at this US$ 3 billion in a viable manner, it is essential for us to support our rubber farmers," Minister of Industry and Commerce of Sri Lanka Rishad Bathiyutheen said Friday (August 29) in Colombo.
Bathiyutheen said he believes it is time for a long term development plan for this sector as the 2013 rubber exports of US$ 960 million is a 100% increase compared to rubber exports five years ago.
Minister Bathiyutheen was addressing the launch event of Global Rubber Conference 2014 to be held in October in Colombo.
The first Global Rubber Conference (GRC) ever to be held in Sri Lanka is co-organized by the Export Development Board under Minister Bathiyutheen as well as Confexhub, Malaysia.
The three-day international event will be held from 27 to 30 October 2014 at the Cinnamon Grand in Colombo.
Global Rubber Conference 2014 themed "Sowing the Seeds for Sustainable Future" is a leading global conference on rubber sector.
It is held in collaboration with Sri Lanka's Ministry of Industry and Commerce and Ministry of Plantation Industries, to provide rubber and rubber products experts and policy makers, captains of industry and serious investors a platform to converge and meet face to face to discuss a wide spectrum of commercial, R&D developments and 2014-'15 price outlook.
The Conference is Co-organized by the Sri Lanka Export Development Board (SLEBD) and supported by the International Rubber Research Development Board (IRRDB) and over 20 global government agencies and associations.