BFIF FY07 PROPOSALS

UNCLAS COLOMBO 000103 SIPDIS SIPDIS EB/CBA for DENNIS WINSTEAD E.O. 12958: N/A TAGS: BEXP ECON EFIC ETRD CE MV SUBJECT: BFIF FY07 PROPOSALS REF: 2006 STATE 189849 Post wishes to express its appreciation for EB/CBA's continued support of commercial activities in Sri Lanka and Maldives and proposes the following BFIF activity for FY07: US Trade Fair - Maldives: (a) Justification: The US Trade Fair in the Maldives has recorded significant growth over the past few years and has become a regular feature in the Maldives trade calendar. The event has developed from a catalog show to a fully fledged trade show with the participation of some of the major US companies operating in the country. The 2006 event recorded the highest contingent of US companies participating at an Embassy organized trade show in the Maldives and included IBM, Chevron, Robert Mondavi and South West Windpower Inc. In 2005 the trade show was expanded into a US-Maldives Friendship Week with the participation of the Economic, Consular, Public Affairs and Defense Attache sections of Embassy Colombo. This helped to strengthen bilateral ties between the US and Maldives. Post will work towards a similar event in conjunction with the trade fair in 2007. The 2006 trade fair generated useful leads to participant companies, especially in the energy, food and beverage, air transport, and commercial interiors sectors. A participating company has signed an MOU with the Government of Maldives for a wind power pilot project and another participant is negotiating to sell equipment to a Maldives food processing company. US eggs and fruits, including apples, oranges and grapes, are exported to Maldives as a result of previous shows, and the exporter continues to reach further contacts through regular participation at the event. Maldives presents opportunities for US firms for a diverse range of technologies, with alternate energy, environment, information technology, communications, electronics, and construction products and services being particularly viable. The ongoing expansion of Maldives' international airport island and planned construction of several new resorts present attractive opportunities for US exports of products and technology. Food and beverage is also an important sector due to the tourism industry and lack of domestic production. The construction of a new island near the capital, Male', has attractive prospects for US technology, products and services. (b) Planning Milestones: The dates of the show, anticipated for June, will be finalized with the concurrence of other USG agencies and exhibition organizers involved in the event once funding is approved. The show will be held in the main conference center in Male'. Promotional strategy, logistics and related issues will be coordinated with other participating USG agencies, exhibitors, the Maldives Chamber of Commerce and Post GSO. Anticipated Outcomes: - Enhance visibility and raise familiarity of US products and technologies among consumers and decision makers in government and private sector. - Form partnerships and sales contracts between exhibitors and Maldivian Firms. - Increase US food and beverage products, technology and equipment exports to construction, processing and alternative energy/water projects. - Increase number of commercial inquiries from Maldivian businesses. (c) Estimated Costs: $15,000.00 (d) Post point of contact: Richard Merrin, Economic Officer, Adrian Mendis, Commercial Specialist. Tel: 94-11-2498500, Fax: 94-11-2437345, Email: MERRINRC@STATE.GOV, MENDISA@STATE.GOV (e) Post will solicit funds from other USG Agencies to fund components of America Week associated with the trade show. (f) Project outcome criteria are based on new leads generated for exhibitors, number of visitors attending show and number of contracts and sales concluded with Maldivian companies. (g) Follow up will be done by contacting exhibitors, pursuing trade leads, working with the Maldives Chamber of Commerce on post-show follow up in Maldives and working with USDA and FCS to identify suitable suppliers and technology for specific requirements. BLAKE