Sri Lanka rubber sector aiming to become $3 billion a year industry by 2020.
The Sri Lanka Association of Manufacturers and Exporters of Rubber Products (SLAMERP) celebrated its 31st Annual General Meeting (AGM) at Cinnamon Grand Colombo on the 16 January 2018. The association was inaugurated in 1985 in order to offer “comprehensive representation, advocacy and to champion to all manufacturers and exporters of rubber products in Sri Lanka”.
Prabhash Subasinghe was re-elected chairman of SLAMERP for the third consecutive year during the association’s 2017 AGM. Subasinghe opened his address with gratitude and observations about the progress and growth of SLAMERP members in 2017 as well as foresight for 2018. The turnover of Sri Lanka’s rubber industry currently stands at approximately US$1 billion. The majority of this turnover is contributed by SLAMERP members. In 2017, it is estimated that Sri Lanka recorded rubber product exports worth US$855 million. This reflects year-on-year growth of approximately 11 per cent. Subasinghe however pointed out with disappointment that rubber production in the country grew only 7 per cent to 85,000 tons in 2017: “The local demand for rubber is almost 130,000 tons, this creates a major shortfall and inefficiency”.