AIMGSL hosts first CEOs’ Breakfast Forum: Setting Sights on EU Markets

The Association of International Marketing Graduates in Sri Lanka (AIMGSL) hosted the first AIMG CEOs’ Breakfast Forum on February 02, 2022, at Earls Court, Cinnamon Lakeside Colombo, welcoming the Ambassador of the European Union to Sri Lanka and the Maldives – Denis Chaibi as the keynote speaker, and CEO, Dilmah Tea – Dilhan Fernando, and CEO, Brandix Apparel Solutions Limited – Rajiv Malalasekera as guest speakers at the forum.

The event welcomed over 100 participants with the presence of Ambassadors of Australia and France for a knowledge sharing session on the topic of ‘Setting Sights on EU Markets’, where Denis Chaibi shared in-depth knowledge and insights into the new rules and regulations of the EU Markets, what support the EU can extend to Sri Lanka particularly with regard to support in technology and machinery for relevant businesses, such as fisheries, the importance of Renewable Energy, how SME exporters can improve exports to the EU and what imports can benefit Sri Lanka from the EU.

In his welcome address, Chairman, Association of International Marketing Graduates in Sri Lanka – Sujith Silva stated: “On behalf of the Association of International Marketing Graduates, I extend a warm welcome to all of you. It is a great pleasure to have all of you with us. This is a key opportunity for corporate CEOs and marketers to gain keen insights into foreign markets as you look to expand beyond Sri Lanka’s shores. The aim of this programme is to further enlighten our members and industry leaders on potential opportunities for growth that will not only benefit each individual and brand but also aid in the upliftment of Sri Lanka’s economy. I wish you all a meaningful and enriching programme.”

Speaking at the event, keynote speaker – Ambassador of the European Union to Sri Lanka and the Maldives Denis Chaibi commented “The point I would like to focus on is the risk factor when setting sights on the EU market and the importance of risk analysis before you even start to market your product. This by far may be your most crucial step. As we all know, the EU massively regulates their trade, policies, etc, more so than any other territory or nation. The EU is an environment comprised of so many moving pieces that strict regulation is integral to its survival. This is due to the Philosophical-Legal construct of the systems, where the EU prepares to preemptively pan for envisioned scenarios, as opposed to waiting for market changes or present situations. How is this done? Well, we have 30,000 officials based in Brussels, whose core job is to assess and regulate so as to support the EU market and strengthen it. A prime example is with Cyber Environments/ Markets which posed and still poses a lot of challenges for many markets – but the EU was the first one to come up with solutions for this and to manage the expectations and regulate the market so both can grow together. These regulations then trickle down and create a knock-on effect on the entities and nations that do business with the EU. For example with ‘The EU Strategy for Sustainable Textiles’, which was part of the ‘EU Circular Economy Action Plan in 2020 – there are three [03] new requirements on packaging and packaging waste, which means that for the textile industry, you need data on how you’re going to source your components as well as what happens to this once it is sold.