Sri Lanka's Apex Organisation for Export Promotion
“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.
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.
The Sri Lanka Export Development Board (EDB) has been conducting the Exporters’ Forum since its inception from late 70s. The EDB has identified the need of a common platform to discuss and resolve the issues faced by the exporter community in Sri Lanka in order to facilitate exporters to overcome constraints arising from policy and operational issues created by various institutes that regulate, operate, and facilitate cross border trade. The EDB as the nation’s prime institute to facilitate export development created this mechanism to enable exporters to submit their issues to the highest levels of state institutions that cannot be reached easily by a trader. The unique feature of the Exporters’ Forum is the participation of the private sector and the public sector to resolve issues, with the political leadership represented by the relevant minister together with direct ministry-level interventions providing solutions to address those issues.
The Sri Lanka Export Development Board (EDB) is planning to hold the 23rd Presidential Export Awards Ceremony under the patronage of President Maithripala Sirisena on 19 September at the BMICH
Transforming Sri Lanka into the hub of the Indian Ocean, with a knowledge-based, highly competitive and social-market economyis the objective of the Vision 2025 policy document of the Government.Making the transistion to anexport, FDI and tourism orientedcountry is the only optionfor Sri Lanka to create better jobs for the youth of our country and to graduate to a higher income economy.
As per the instructions of the Hon. Malik Samarawickrama, Minister of Development Strategies and International Trade, Export Development Board organized a meeting with the key Exporters and Investors on Friday 03rd May 2019 at the 3rd Floor Auditorium to discuss the current situation of the country.
2019-02-11/ http://www.ft.lk/business/Enterprising-Sri-Lankan-exporters-showcase-at-Ambiente-2019/34-672643
Most of the Sri Lankan firms participating at the world’s largest consumer goods fair Ambiente 2019 in Frankfurt, Germany, expressed confidence over prospects to win more orders.
Sri Lanka’s merchandise and service exports in 2018 are estimated to have hit an all-time high of $ 17 billion, up 15% from a year earlier prompting the Government to be confident of achieving the $20 billion milestone this year.
The 22nd Presidential Export Awards Ceremony was held to celebrate the outstanding achievements of the Exporters at the Bandaranaike Memorial International Conference Hall (BMICH) in Colombo, on September 18, 2018, under the patronage of His Excellency Maithripala Sirisena the President of Sri Lanka.
Following is the address by Minister Malik Samarawickrama at the Presidential Export Awardson 18 September
2018-03-14/ http://www.ft.lk/business/Thai-Week-Seminar-in-Sri-Lanka-promotes-greater-bilateral-trade-and-investment/34-651238
The Thai Week last week held a special seminar themed ‘Sri Lanka-Thailand Strategic Partnership in the making: Perspectives on trade, investment and development opportunities’ inviting an expert group of panellists to share their views and insights.
2018-03-10/ http://www.ft.lk/front-page/Thailand-Week-Trade-Fair-opens-investment-and-development-opportunities-for-Sri-Lanka/44-651006
The Thailand Week Trade Fair kicked off 09-03-2018, opening many investment and development opportunities for Sri Lanka. The second edition is taking place at the BMICH and will go on till 11-03-2018.
A delegation from Nagano Employers’ Association in Nagano Prefecture, Japan visited Sri Lanka Export Development Board (EDB) with the objective of increasing awareness on Sri Lankan key export products and services...........
The Trade Development Authority functioning under the purview of Ministry of Commerce of Pakistan organised the 10th Expo Pakistan from 7 to 9 November at Karachi Expo Centre, Pakistan.
2017-10-31/ http://www.ft.lk/business/EDB-organises-Sri-Lanka-Pavilion-at-14th--China-ASEAN-Expo--Nanning--China/34-642330
The Export Development Board (EDB) organised Sri Lanka’s participation at the 14th China-ASEAN Expo (CAEXPO) in Nanning, China from 12-15 September in collaboration with the Sri Lanka Consulate in Guangzhou.
2017-10-30/ http://www.ft.lk/it-telecom-tech/EDB-participates-in-Intergovernmental-Group-of-Experts-on-E-Commerce-and-the-Digital-Economy/50-642443
Information and communications technologies (ICTs) are playing an increasingly important role in the implementation of the digitalisation of economic activities and trade which can support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalisation and growth of micro, small and medium-sized enterprises, including through access to ICT-enabled financial services.
2017-10-25/ http://www.ft.lk/top-story/World-Export-Development-Forum-kicks-off-in-Hungary-today/26-642182
The 2017 edition of the annual World Export Development Forum (WEDF) kicks off today in Budapest, Hungary under the theme ‘Trade – A Force for Good: Include, Innovate, Integrate’.
