International buyers losing confidence in SL, says NCE

International buyers are losing confidence in Sri Lankan exporters due to the current political and economic unrest, the National Chamber of Exporters of Sri Lanka (NCE) said in a statement on Monday.

“The exporters take long and hard years to build creditability in the global market for Sri Lankan products and services, yet now they face a threat of losing such status. It is therefore one of the utmost responsibilities of the policy makers to support this vital sector, to sustain exports, which is currently the only sizable foreign exchange earner to the country,” it said.

Sri Lankan exporters have been performing well, overcoming every challenge keeping their heads above water and have managed to sustain a continuous flow of foreign exchange. They have been able to fulfill buyer expectations amidst the ongoing socio-economic turmoil in the country.

“However, due to various constraints including shortage of fuel and energy the factory operations have been affected badly. It is required to support this industry as an essential service thereby to provide energy and fuel to keep factories running for a smooth operation. Exporters simply cannot lose buyers as it will be an arduous task to find buyers, especially amidst a severe competition by neighboring countries. The NCE strongly advises appointing of a competent authority to oversee international trade, particularly exports and to set a robust structure to strengthen the supply chain in moving forward. Managing the shortage of foreign exchange within the shortest possible time and restore the supply of essential items, medicine, fuel and domestic gas have become the priority. Most importantly, the policy makers must ensure the entire system is resurrected, supported and strengthened within a short period of time to guarantee important functions are carried out without any interruptions which include Customs, Ports and Public Transport etc. The chamber also made a special request from the Government to engage private sector to work on export related initiatives,” the statement added.