Sri Lanka launches new plan to develop export strategy
View(s):
Prime Minister Ranil Wickremesinghe
The Ministry of Development Strategies and International Trade and the Sri Lanka Export Development Board (EDB) this week conducted the first National Symposium for Sri Lanka’s National Export Strategy (NES) with more than 150 public and private sector representatives to plan the next export growth cycle of the country. The development of an NES is a central component of the “EU – Sri Lanka trade-related assistance: Increasing SMEs trade competitiveness in regional and EU markets” project, which is funded by the European Union and implemented by the International Trade Centre, the EDB said in a media statement.
The National Symposium held on April 6 and 7 at Temple Trees, Colombo was due to unveil the design process for the NES and provide a platform for public and private stakeholders to discuss their strategic vision for Sri Lanka’s export growth. The two days of consultation would confirm the export performance diagnostics and define the main strategic orientations for the NES, including priority sectors and the selection of trade functions. Following this initial event, meetings will be held in Colombo and the regions to define specific sector level action plans, the EDB said.
The NES will support Sri Lanka’s economic vision of strengthening the competitiveness of the country’s private sector to achieve inclusive and sustainable growth. The consultative process will lead public sector institutions and private sector enterprises to design a common and agreed plan for growing and diversifying Sri Lanka’s export products and reaching new target destinations.
Prime Minister Ranil Wickremesinghe in his address spoke on the new strategies required to undertake necessary reforms to increase, diversify and introduce innovation in export development, aimed at increasing revenue, creating employment and reducing Sri Lanka’s trade deficit.
Malik Samarawickrama, Minister of Development Strategies and International Trade, said “Sri Lanka is embarking on an ambitious set of economic changes, where innovation and entrepreneurship will be key drivers of export competitiveness for economic growth”.
Indira Malwatte, EDB Chairperson noted that the Government of Sri Lanka has embarked on developing and promoting exports of the country, giving it the highest priority, to increase and consolidate foreign exchange earnings, which will create new employment, build skills and capacities and attract export driven investments which will result in enhanced economic and social benefits and improved lifestyles for all Sri Lankans.
Harin de Silva, Chairman of the Exporters’ Association of Sri Lanka (EASL), said that the EASL has continuously campaigned for greater engagement between the Government and private sector. “We fully support the endeavour of developing and implementing a National Export Strategy (NES) for Sri Lanka. We look forward to building a durable public-private coordination to drive export growth and for the successful implementation of the NES, which will also be driven directly by private sector inputs,” he added.
EU Ambassador to Sri Lanka and the Maldives, Tung-Lai Margue said that Sri Lanka has been identified as a “Market of the Future” by Euromonitor and as a key trade partner in South East Asia.