FTZMA hails National Export Strategy
View(s):The Free Trade Zone Manufacturers’ Association (FTZMA), the apex body of export manufacturers operating in the Katunayake Export Processing Zone which largely consists of foreign investors, has hailed the new National Export Strategy (NES) launched last week, as an initiative to boost exports.
This strategy which was developed by about 750 private and public stakeholders through extensive consultations initiated by the Prime Minister last year is expected to boost export earnings up to US$8 billion by 2022. Assocation President Fazal Abdeen, in a media release, while praising this initiative also urged the Government to pay attention to the labour crisis which is currently faced by member companies of the FTZMA which he said was affecting the output levels and export earnings of the country as a result.
“We think the National Export Strategy is a timely intervention and we salute the government for this step in the right direction. However, one of the biggest issues faced by most exporters especially in the Katunayaka Export Processing Zone is the severe shortage of labour which we urge the subject minister, Malik Samarawickrama, to promptly intervene and help solve,” he said in the release.
Further, member investors expect consistency in the state policies on foreign investment facilitation, tax regulations and tangible incentives as well as trade deals with the developed world which are mutually beneficial in sustaining and expanding investments. “There are about 5000 vacancies currently and we think in order to meet this high demand, we might have to look outside of Sri Lanka for labour,” Mr. Abdeen was quoted as saying.
The FTZMA President said he was hopeful that the relevant authorities will take necessary steps in the near future to find a sustainable solution to the above matter so that exporters can make the most of the current opportunities and momentum afforded through FTAs.
Ministry of Development Strategies and International Trade, Export Development Board and Department of Commerce were engaged in consultations with the private and public stakeholders in the preparation of the National Export Strategy.
Founded in 1981, the FTZMA comprises both foreign and local companies that have established export-oriented business in the Katunayaka Export Processing Zone which is the first and largest EPZ in Sri Lanka.