Dubaiâ€™s Lulu group to increase imports from Sri Lanka
ECONOMYNEXT – Dubai’s Lulu retail group has said it aims to increase imports from Sri Lanka with the company also being urged by a visiting business delegation to consider backward integration in the island.
Lulu group’s target is to increase imports from Sri Lanka to 10 million US dollars in 2019 from six million dollars last year with the support of Sri Lankan entrepreneurs, the visiting delegation was told.
Lulu group already has a food processing unit at the Export Processing Zone at Katunayake, near the international airport, to export to its large chain of hypermarkets in the Middle East.
The pledge to increase imports from the island was given to the Sri Lankan delegation which visited the Lulu Group International Regional Office in Dubai recently.
The team from Lulu was headed by Shabu Abdul Majeed, the Director of Retail Operations at the Lulu corporate Headquarters, a statement from the export development Board said.
Chairperson and chief executive of EDB Indira Malwatte proposed that Lulu look into backward integration for selected fresh produce under the island’s “One Product – One Village Program” program to support village production.
She also briefed the Lulu group on the new product categories that could be introduced to their distribution channel.
The Sri Lankan delegation to the visited United Arab Emirates (UAE) led by NalinBandara, Deputy Minister of Development Strategies & International Trade, was made up of officials from both the public and private sector.
They met several important trade partners in the UAE, including the Dubai Chamber of Commerce & Industry, Sharjah Chamber of Commerce & Industry and Al-Maya Group.
(COLOMBO, 23 July, 2019)