By: Staff Writer
November 05, Colombo (LNW): Under the new administration of the NPP government, export development is set to gain momentum as Sri Lanka renews its ties with Michelin, the global leader in tire manufacturing.
This partnership established under the new government is expected to boost economic growth through enhanced export strategies that align with Michelin’s international goals.
The collaboration reflects a commitment to supporting local industries and establishing long-term trade relationships that benefit the country’s economy.
This renewed collaboration between Michelin and the NPP-led government highlights a promising future for Sri Lanka’s export framework, positioning the country as a competitive player in the global rubber industry.
The NPP government’s support for Michelin exemplifies its proactive stance in fostering economic resilience and industrial growth, reinforcing Sri Lanka’s presence in international trade.
Michelin, the French tire giant, first entered Sri Lanka in 2018 through its acquisition of Camso-Loadstar, making it the largest French investor and one of the leading exporters in the country.
The company produces solid tires, tracks, and sprockets for the construction and material-handling sectors and employs nearly 6,000 people across the island.
On November 1, a high-profile delegation from Michelin met with Mangala Wijesinghe, the newly appointed Chairman of the Export Development Board (EDB), to discuss strategies for advancing Sri Lanka’s rubber manufacturing sector.
The Michelin delegation included Eric Le Corre, Corporate Vice President of Public Affairs at Michelin’s France headquarters; Koenraad Pringiers, Public Affairs Consultant; and Nilanthi Weliwe, Head of Legal Affairs at Michelin’s local operations.
During the discussions, Michelin’s representatives emphasized the need for proactive government policies to boost local rubber production, which would help increase the volume of value-added rubber products.
They also proposed expanding market access through Free Trade Agreements (FTAs) and advocated for the creation of a dedicated rubber zone to enhance the production of diverse rubber products on the island.
The EDB issued a statement underscoring the agency’s commitment to supporting Michelin’s growth in Sri Lanka, with EDB Chief Mangala Wijesinghe assuring that the new government would fully support Michelin’s export objectives through investor-friendly policies.
Michelin is globally recognized as the second-largest tire manufacturer, famous for inventing the detachable tire. With 123 production sites across 26 countries and a commercial presence in 170 nations, Michelin employs around 125,000 people worldwide.
In Asia, Michelin maintains a strong foothold in key markets, including Thailand, China, India, and Sri Lanka.
Since its entry into Sri Lanka in 2018, Michelin has manufactured and exported agricultural and industrial solid tires and tracks, and currently has nearly 6,000 employees throughout the island.
The EDB has closely collaborated with Michelin’s Sri Lankan operations, supporting the participation of technical personnel in workshops on tire compounding, technology, innovation, and research and development from 2018 to 2023.
The EDB also facilitated factory operations during the COVID-19 period, reinforcing its commitment to helping Michelin navigate operational challenges in Sri Lanka.
