For the first time Sri Lankan entrepreneurs involved
in the garment industry has got the opportunity
to take part in the International Sourcing Neighborhood
of World's largest and most comprehensive Apparel
Trade show. Produced twice a year, in Las Vegas,
USA. 'MAGIC' is the world's largest Apparel purchasing
community.
A local businessman Hiran Jayasinghe now based
in USA has been appointed as the MAGIC's exclusive
representative for Sri Lanka. Jayasinghe who
is now in Sri Lanka for a brief period said
that this Exhibition would be the ideal venue
for Sri Lankan businessmen involved in the garment
industry to meet up genuine buyers and make
connections with them on a one to one basis.
"The four day event will be attended by
over 85,000 buyers and 3,000 exhibitors from
110 countries. Since only the top management
level personal from the rank of Vic President's
upwards are attending MAGIC, this would be the
ideal venue to make contact with very influential
people since you meet only real buyers."
He said that with the quota system being taken
off in December 31st 2004. It is estimated that
over 40% of employees in the sector will lose
their jobs unless new buyers are found. "This
is because the buyer is free to buy from any
country"
He said that most of the Sri Lanka Apparel
company's doing sub contracts and when the quota
system is taken off unless here are steady buyers
the garment industries in Sri Lanka will face
a major problem.
Jayasinghe who is in states for the past 16
Years said that since decision makers in the
garment trade are meeting this would be an ideal
opportunity for local entrepreneurs to even
go to the extent of signing MOU with new partners.
"Statistics from the MAGIC exhibition over
the past three decades have shown that 93% of
US buyers are looking out for new overseas suppliers.
He also said that USA imported appearls to the
value of US $ 20,000,000,000 last year.
An old boy of St Thomas College, Jayasinghe
went to USA for higher business studies and
later joined Hughes Aircrafts, as a systems
engineer. He later started his own IT Company
in Beverly Hills, California. Jayasinghe was
the founder President and the only Sri Lankan
at the Junior Chamber of Commerce in Beverly
Hills. Today he is the Chairman of this prestigious
organization. He was also adviser for Michel
Jackson Production, Penthouse Publication, Aerospace
and entertainment companies in USA. He is also
working on developing a virtual city for city
of Beverly Hills were a visitor could walk down
the city streets in the comfort of his home
and make parches on the net on BH90210.com
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Since
1999 he was promoting the idea of inviting Sri
Lankan garment manufacturing companies to attend
the MAGIC event. "In 1999 nine members from
the export Development board attended MAGIC. But
since then there was neither feedback nor any
representation from Sri Lanka and was totally
neglected. However countries like China, Bangladesh
and India are attending this event regularly and
are utilizing it to find new buyers. This year
only to the sourcing Neighborhood exhibitors have
conformed their attendances. China has reserved
over 110 booths, India over 40 and from Bangladesh
14.
He said that though China is
now one of the leading garment suppliers to the
world there is a lot of European and US based
companies that appreciate the Sri Lankan touch.
"Sri Lankan work force is highly recognized
for their high literacy rate and skills. The Lankan
workers are known to a new design or a style very
quickly and this too is a plus factor for Sri
Lanka."
Jayasinghe said that this year
the Sri Lanka would have a separate pavilion at
the MAGIC sourcing Neighborhood for Apparel Exporters;
software developers for the Apparel industry,
Jewelry manufactures and other industries related
to Fashion. The US Embassy too is coordination
towards this.
He said that the MAGIC has established
an International Business Center. An extension
of MAGIC's current meeting place, the I.B.C. will
help facilitate transactions between companies.
Services include translators, representatives
from the U.S. Department of Commerce, and seminars
on the environmental, human rights and importation
issues pertinent to the global marketplace.
Also MAGIC produces a post-show
publication that continues to promote both the
show and its exhibitors. This MAGIC Newsletter
is sent to 40, 000 of North America's top buyers.
Another example of how MAGIC can continue to market
an exhibitor long after the event itself has ended.
Company's hoping to attend could
get more information from their website: MAGICtradeshow.us
or e-mail to Hiran@MAGICtradeshow.us
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