An esteemed panel of local and international experts from the wellness tourism industry have agreed that Sri Lanka has all the necessary attributes to become a leading global wellness player. The comments were made during the first session of a three-part webinar series, held on 3rd July, highlighting the untapped potential of Sri Lanka’s wellness tourism sector.
Sri Lanka Export Development Board’s Director of the Export Agriculture Division Malani Baddegamage in an interview with Daily News Finance yesterday, stressed that Sri Lanka’s global image rose phenomenally following the outbreak of COVID 19 as buyers were convinced with the manner that the Government controlled the spread of global pandemic.
Expo 2020 Dubai is gearing up to help shape a post-pandemic world and create a better future for all after a two-thirds majority of Bureau International des Expositions (BIE) Member States voted in favour of postponing the next World Expo by one year. This global mega event will now run from 1 October 2021 to 31 March 2022.
Exports play an important role in a country’s economy as they influence the level of growth, employment and balance of payments. For Sri Lanka, the focus on exports is now more important than ever, as the island nation looks to bring in foreign currency to boost the economy.
‘Drifting the curve’ is the SLASSCOM industry strategy for building momentum to come out of the ‘corner’ (current situation) stronger. When race car drivers approach a bend on the track, unlike ordinary drivers who slow down, they accelerate. This is known as ‘drifting the curve’. It’s all about how much momentum you have when you come out of the corner.
With Sri Lanka being commended for its highly successful measures in containing the novel coronavirus which led to a global pandemic whilst many developed nations failed to do so, it is an ideal moment for the country to be positive and turn this crisis into an opportunity especially when it comes to higher education.
Following our statement last week, the EDB strengthens our clarion call to understand that exports are now our nation’s number one priority. As the COVID-19 crisis intensifies across the globe, we at the EDB have taken a strong stance and realized that it is the export sector that will get Sri Lanka through this crisis. During these times of unparalleled circumstances, we see a large impact on Sri Lanka’s foreign direct investment, our tourism sector and our country’s overall economic standing. Therefore, we ask other government agencies to recognize and support the export sector during this time. For all exporters, it is imperative to take immediate action. The foreign exchange that we bring in through the export sector is essential in our efforts to survive this crisis as a nation.
It’s a difficult moment for the world. We are fighting the coronavirus pandemic whilst our nation’s exporters have been facing challenging times for the past two months. The EDB requests that now more than ever, the time has come for us to prepare our businesses to stay up and running. As a nation, we are no stranger to disaster, having faced our fair share of adversity. We are confident that we will weather this storm and as we have done in the past, Sri Lanka will emerge stronger than ever and continue focusing on our main goal - recommencing exports, restoring them to their former level and increasing them.
Considering the unprecedented disruption to the global economy and trade due to the COVID-19 pandemic, the Export Development Board has revised its 2020 exports forecast by a hefty 42% to $10.75 billion.
The Central Bank on 27th March 2020 announced a series of wide-ranging financial concessions to alleviate the hardships businesses are facing owing to the impact of Covid-19. The concessions are applicable to the entire gamut of organisations ranging from large corporate to self-employed individuals, and particularly to export-related enterprises. The Sri Lanka Export Development Board (EDB) took the initiative in bringing the severity of the crisis situation the business community, particularly the export sector, is facing and the dire need to give relief, to the notice of the Central Bank and other key Government stakeholders.
Total merchandise exports for Jan & Feb 2020, was US$ 1,931 which resulted in a reduction of 3.6% compared to the same period in 2019.
The Government should extend the financial moratorium to all exporters, as merchandise exports will be the first to bounce back after the COVID-19 crisis is controlled, a top official said.
“The moratorium on loans and interests that the Government has introduced to the apparel, tourism, IT and SME sectors should be extended to all exporters. Merchandise exports will be the first to recover and help the economy,” Export Development Board (EDB) Chairman Prabhash Subasinghe told Daily FT.
Sri Lanka Customs has taken immediate steps to assist the exporters whose export of products have been delayed by the corona outbreak to export products that have been produced and prepared for exportation as well as goods that are essential and urgently required to be exported to respective countries.
The National Plant Quarantine Stations at the Seaport, Colombo and Bandaranaike International Airport (BIA) in Katunayake are open to accepting samples of plants and coir products for quarantine testing and issuing of certificatio.