According to the latest customs provisional data the total exports from Sri Lanka in January 2020, recorded a marginal increase of 0.96% in comparison to the similar period of the previous year, due to the merchandise exports recording a drop of 7.41% and the projected growth of 26% of Service exports, The merchandise exports stood at US$ 961 Mn in January 2020, which is lesser than US$ 77 Mn, in January 2019. The figure for Service exports has not yet been released and the EDB has projected figures based on the past published records. It was revealed that only in the year 2019 the exports recorded over one billion in comparison to the figures of the last five years.
Sri Lanka has an advantage to become the hub for boat manufacturing in Asia Region due to its strategic location and availability of skills. The increasing demand for boats worldwide regional and local for fishing, industrial, commercial, and leisure purposes has opened up huge opportunities and new markets for Sri Lanka.
Export Development Board (EDB) Chairman Prabhash Subasinghe yesterday urged that boosting exports must be everyone’s priority, as the key agency set an ambitious yet achievable target of $ 18.5 billion this year, up by 15% from 2019. EDB revealed that as per provisional data, last year Sri Lanka’s total merchandise and service exports amounted to $ 16.14 billion up by 1.44% from 2018. The composition was merchandise exports were $ 11.9 billion, up 0.13% and service exports were $ 4.2 billion, up by 5.3% from 2018. EDB originally targeted $ 18.5 billion exports for 2019, and the estimated performance reflects achievement of 87% of the goal.
The delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) together with the Export Development Board (EDB) organised the first-ever Sri Lankan pavilion at the world’s leading boat exhibition ‘Boot Show’ in Dusseldorf, Germany.
Sri Lanka yesterday launched the official website announcing the country’s participation in the six-month long Expo 2020 Dubai, anticipating a major boost to exports, tourism and investments while looking to enhance the country’s brand value and image globally.
Indira Malwatte, Chairperson & Chief Executive of EDB and the Commissioner General of Sri Lanka for Expo 2020 Dubai together with the private sector stakeholders; Secretary Generals of the National Chamber of Exporters and National Chamber of Commerce of Sri Lanka, Shiham Marikkar and Bandula Dissanayake and the Co- Chair Planning Sub Committee of Expo 2020 Dubai, Fazal Mushin met Ahmed Ali Ibrahim Al Mualla, the ambassador for UAE in Sri Lanka this week at the embassy premises to further strengthen Sri Lanka’s commitment in participation at Expo 2020 Dubai and to review the progress made so far.
Mahela Jayawardena and Kumar Sangakkara - two of the most iconic cricketers produced by the country has come on board as Sri Lanka’s Brand Ambassadors for Expo 2020 Dubai organized by the Sri Lanka Export Development Board (EDB) as a public private cooperation project .
The boat and shipbuilding sector is identified as a focused sector in the National Export Strategy (NES) 2018-2020. This sector is a leading industry and an emerging export sector offering a wide variety of products and services to international markets.
The 23rd Presidential Export Award Ceremony (PEA) organized by the Sri Lanka Export Development Board (EDB) was successfully held on 19th September 2019 under the patronage of His Excellency the President of Sri Lnaka at the Bandaranaike Memorial International Conference Hall (BMICH), Colombo with the participation of the large number of exporters. The award winners were presented a prestigious PEA Trophy and a Certificate & they have the privilege to use the “Award Logo” as a marketing tool for a 3 year period.
The 23rd Presidential Export Award Ceremony organized by the Sri Lanka Export Development Board (EDB) will be held on Thursday 19th September 2019 at the Bandaranaike Memorial International Conference Hall (BMICH) under the patronage of His Excellency the President of Democratic Socialist Republic of Sri Lanka.
Sri Lanka’s participation at Expo 2020 Dubai is set in a spectacular manner to ensure the strengthening of the country’s trade, tourism, and investments. The Sri Lanka Export Development Board plays a critical role, together with private and state organisations, to landmark Sri Lanka’s presence at this global event.
The Sri Lanka Export Development Board (EDB) in association with the National Research Council (NRC) held an awareness session on the NRC’s Public-Private Partnership (PPP) Programme on 29th July, 2019, at the EDB Auditorium targeting the exporter community. The aim of the session was to educate exporters about the modalities of the PPP programme.
“This Act is truly visionary; I wish other countries had this in their export development framework!”, remarked a senior official of the Geneva-based International Trade Centre to me some months back. He was referring to the ‘Sri Lanka Export Development Act No. 40 of 1979’, which marks 40 years this month. He had found it to be an institutional arrangement that was far ahead of its time, and is still having relevance today – not just for Sri Lanka, but also for other developing countries. And he would know, having worked on export development strategies for over a dozen countries around the world.
The country’s boat-building industry has an ambitious target of doubling its export revenue to reach US $ 250 million by 2022.
To help Sri Lankan companies eyeing the daunting Indian market, the International Trade and Development Strategies Ministry yesterday launched a new report to assist breaking into India, with Minister Malik Samarawickrama undertaking a visit to India this week to help local businesses find success across the Palk Strait.
The Sri Lanka Export Development Board [EDB] which turned 40 years on 1st August is the premier state organization for the development and promotion of exports. The Board plays myriad roles in the export sector of the economy, as a Policy Advisor, Monitor, Promoter, Facilitator and Knowledge Provider in carrying out its responsibilities of implementing strategies for achieving national export targets.
Despite global and local challenges, Sri Lanka’s merchandised and service exports have risen by 11.4% to $ 8.5 billion in the first half of this year, prompting the Government to attribute it to a series of development efforts and assure further support. Releasing the latest yet provisional data, Development Strategies and International Trade Minister Malik Samarawickrama said yesterday that export sector performance was commendable, though he admitted there is significant scope for higher value. “The 11.4% growth, despite the impact of the October 2018 undemocratic constitutional coup, and the Easter Sunday tragedy, as well as global challenges, is very satisfactory. For the first time, three months of first half of 2019 - January, March and June - have produced over $ 1 billion worth of merchandised exports. We had originally set an ambitious $ 20 billion target for 2019, but we may miss it and end up at around $ 18.5 billion, which will be still higher than the $ 16 billion achieved last year,” Samarawickrama said.
A delegation led by Hon. Nalin Bandara, Deputy Minister of Development Strategies & International Trade comprising officials from both the public and private sector visited United Arab Emirates (UAE) and met several important trade partners in the UAE. The delegation had very fruitful discussions with the Dubai Chamber of Commerce & Industry, Sharjah Chamber of Commerce & Industry as well as Al-Maya Group and the Lulu Supermarket International.