RUBBER manufacturing firms in Sri Lanka will be venturing in some projects in Vietnam to ensure a stable supply of natural rubber in the future, according to Sri Lanka Society of Rubber Industry (SRI) Chair, W. T. Ellawala.
Vietnam, the world’s fourth largest rubber producer, has increased its rubber areas to 910,000 hectares.
“SRI is an apex body in the sector envisaged in areas such as plantation technology development, training and skill development and joint research and development in rubber products manufacturing, prepared to facilitate such collaborative activities with Vietnam Rubber Association (VRA) that would result in expanded business relationships between the two countries,” Ellawala said.
The Ministry of Plantation Industries and SRI jointly drafted a 10-year Master Plan for rubber sector development, which is hoped to help increase earnings from the current US$ 1 billion to US$ 3.5 billion by 2023.
Asian Development Bank (ADB) has extended technical assistance to develop the plan. The Master Minister of Plantation Industries Mahinda Samarasinghe facilitated the government approval for the Master Plan after validation by stakeholders.
He said Vietnam has increased there area under rubber to 910,000 hectares and Sri Lankan manufacturing firms have an opportunity to venture into projects in Vietnam as a steady supply of natural rubber will be assured in future.
Ellawala said that collaborative activities in areas of plantation technology development, training and skills development and joint Rand D in rubber products manufacturing will be ramped up.
Back in June 10, 2005, SRI signed an MoU with VRA, which signaled mutual efforts for both countries to promote the rubber sector. In line with the MoU, a group of Sri Lankan rubber industry delegates also held a study tour to Vietnam, Thailand and India, led by then Minister of Plantation Industries, Anura Priyadarshana Yapa.