Economic diplomacy initiatives to expand market access of Sri Lankan products in the Philippines: Exploratory meeting with Mr. Lucio Co, Chairman of Cosco Capital and Puregold Price Club Inc.

Ambassador Shobini Gunasekera virtually met with Mr. Lucio Co, Chairman of Cosco Capital Inc, and Puregold Price Club Inc., operators of prominent Philippine retail chains: SNR and Puregold.

Mr. Lucio Co is a prominent businessman ranking among the top names in the Philippine business sector with interests in real estate, banking, renewable energy, petroleum and gas distribution, liquor distribution, oil and mineral exploration hydropower, retail, fast food chain, financing, among others.

The exploratory meeting centered on the Embassy’s initiatives to expand the market access of Sri Lankan products in the Philippine market through the introduction and promotion of new products in the country’s extensive retail and distribution network.

Ambassador Gunasekera relayed her intention to pursue the initiative through SNR and Puregold particularly for new products ranging from tea, spices, process food, confectioneries, rubber, ayurvedic/herbal and health and wellness products.

Meanwhile, Mr. Co mentioned his interest to explore opportunities for SL products in his companies and expressed his support to the subsequent discussions between the Embassy and his company. He also mentioned his interest to look into apparels/clothing products from Sri Lanka for potential distribution.

Puregold is a chain of supermarkets with a network of 159 stores engaged in consumer products trading on a wholesale and retail basis. Meanwhile, S&R, with 20 branches, is a membership-shopping club which offers an expansive selection of imported and local items in value packed sizes to cater to personal and business needs.

Mrs. Thanuja Dissanayake, Minister and Head of Chancery, Mr. Gerald L. Nuñez, Trade Officer, Mr. William Chen, Chief Financial Officer of Real Steel Corporation, and Mr. Roland Reid, Retail Consultant of Equilibrium Intertrade Corp. also attended the exploratory discussion.

Embassy of Sri Lanka
29 July 2021