Why buy Sri Lankan

Buy Sri Lankan and redress the trade balance

With Sri Lanka running a huge trade deficit, one movement has stepped forward to make a change; Mawbima Lanka. By striving to help promote all brands that are pro-Sri Lanka n , Mawbima seeks to promote a sustainable economy.

In a recent BIG Issue interview, the Chairman Mr. Ariyaseela Wickramanayake, emphasized the severity of the need to promote local products to help reduce the need for imports and to cut down imports on products that we already produce. He elaborated on how, with today’s contemporary culture, the value of imported goods are placed high above that of our own local goods, degrading the quality of local products despite the fact that value in terms of nutrition and quality in reality are much higher. He went on to say that though the power remains with us to contribute towards helping our economy, the government should play their part too.

Imports for commodities such as cars should be halted as car dealers already have full stocks. He suggested implementing regulations such as that of Singapore where a person is permitted to buy only one car, the fact that the liberty to purchase isn’t restricted has resulted in extravagant and unnecessary expenditure. Pinpointing one of the key barriers as being the attitude of Sri Lankans, Mawbima Lanka conducts educational and socio-cultural activities in the direction of creating a consumption culture and an ideology in the society that is conducive and supportive towards developing a formidable and self sustained national economy.

With exports at $3billion, while imports are at an alarming $11billion, Sri Lanka is facing a critical issue. With this problem in mind, Mawbima aims to play their part by reducing this deficit by reducing the want for imported products through support for local firms. By promoting locally manufactured products in the Sri Lankan markets, through advertising campaigns and undertaking market and social research to help local industrialists to improve their business performances, Mawbima provides firms with the incentive to produce more local products.

The criteria for a firm to join the initiative, stands with high requirements such as 30-40 percent local products sold and a minimum increase on 20 percent local products to be sold per annum, minimum five percent availability in the local market, price standards, over 60 percent local production, existence in the market for a minimum of five years, etc. Once passing the heavy product standards the firm is awarded accreditation and is permitted to use the Mawbima trademark/logo on all promotional activities. Mawbima for their part extensively promotes the significance of the logo to the public, placing the accreditation at a very high value. In addition technical, educational and moral support is also at hand to help local industrialists boost their business performances.

Despite the tremendous support from Mawbima, Mr. Wickramanayake said that their initiative alone is not sufficient to help alleviate the issue at hand. All Sri Lankans need to empower themselves to help bring about a change by pushing to consume more local products and cutback on unnecessary expenditure on imports.

Sepalika Lanka
sepalika@riunit.com