Businessman Hubert Jayakody, chairman Huejay International Ltd., will be sponsoring the representatives of local companies who will be participating in the annual month long Dubai shopping festival which begins on March 1, said National Chamber of Exporters (NCE) president Patrick Amarasinghe at a press conference held in this connection on Wednesday.

Over 50 local companies are expected to participate at this festival, which, according to UAE ambassador Saeed Ali Al-Nowais, who was also present at this occasion, attracts around two million visitors. ‘Around 45 countries are expected to participate at this festival,’ said Amarasinghe, whose organisation will be the local facilitator in this connection.

Meanwhile, Jayakody, addressing the press in this regard said that his sponsorship package would include the cost involved in renting out stall space which would cover an area of 950 square metres, the participants board and lodging and travel costs in Dubai, affreightment costs of participants goods as well as the board and lodging costs of over 50 of his employees who would be attached to this ‘Sri Lankan pavilion.’

Jayakody, who refused to divulge the cost of this project, said that it would be funded from the earnings he has made by operating a chain of restaurants in Japan. Jayakody, who is also one of the country’s largest ‘cut’ flower exporters, especially to the Japanese market, said that he would obtain a tax rebate from the Japanese government on this investment.

He further said that another market that Sri Lanka should explore is the East European market. Meanwhile, Al-Nowais in his speech said that this would be the third time that Sri Lanka would be participating in this fair. He said that last year, more than 20 Sri Lankan companies participated at this fair.

Commerce and consumer affairs minister Ravi Karunanayke who also spoke at this occasion said that the UNF government would work towards the goal of seeing that Sri Lankan exports would get its equitable share in the global market.

He further said that in this regard, the new government would strive to see that the country participates in every international fair and shopping festival, and he has given instructions in this regard to the Commerce Department. The minister also said that at any given time, around five to six fairs are held globally.

The minister further said that in order to facilitate that local manufacturers goods reach the global market, the government would take steps to ensure that virtually all of the local manufactories are affiliated to a trade chamber in the country in the next two years. Karunanayke in his speech admitted that one of the biggest drawbacks in the local scenario is the government bureaucracy. (PA)