Sri Lanka's Apex Organisation for Export Promotion
The global trading environment is evolving rapidly with numerous developments in global production networks and global value chains. These developments are a result of product fragmentation; cross boarder dispersion of components and production/assembly. Each country specializes in a particular stage of production sequence and trades the value added components which ultimately results in the final product.
Sri Lanka doubled its export promotion efforts last year in comparison to 2018, enabling the private sector, especially the small and medium segment, to succeed amidst growing competition and other challenges.
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.
Prabhash Subasinghe, Chairman of the EDB, pledged to take innovative measures to reinvigorate the sagging fortunes of the nation’s tea exports during the initial meeting he had with the tea industry stakeholders since assuming office last December.
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.
Prabhash Subasinghe, Chairman EDB had a discussion with the leading public and private stakeholders of the country’s logistics sector last Tuesday (29th January) at the EDB as part of the series of initial meetings he had launched with the various industry sectors since assuming office.
EDB Chairman Prabhash Subasinghe had a discussion with the leaders of the country’s top IT/BPO/Software companies last week as part of a series of initial meetings he had launched with the various export sectors of the nation since assuming office last month.
Vega Innovations, a subsidiary of CodeGen International (Pvt) Ltd., creates history once again as the Vega EVX, Sri Lanka’s and South Asia’s first fully Electric Supercar is shipped out to Switzerland, to be unveiled at the 90th Geneva International Motor Show, 5-15 March 2020. The vehicle was shipped from the Colombo harbour on Sunday the 19th of January 2020 and will reach its destination in late February.
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.
Mr.Prabhash Subasinghe, the newly appointed Chairman of the Sri Lanka Export Development Board (EDB), met with the nation’s leading apparel exporters last Friday (17th) at the board premises.
The Sri Lanka Export Development Board (EDB), is working to generate more revenue, particularly foreign exchange through ayurvedic services by catering to niche markets which are growing fast. An emphasis on this sector has been placed in the National Export Strategy (NES) where wellness tourism is a major component.
The total value of merchandise exports of the country for first 11 months of 2019 was recorded at US$ 10.7 Bn according to the provisional statistics. This is a US$ 180 Mn increase in value and a 1.7% growth when compared to the similar period of the previous year.
Prabhash Subasinghe, Chairman & Chief Executive, EDB, met with the country’s leading exporters yesterday at the Board premises. Twenty-five exporters covering the country’s main export sectors attended this meeting.
Prabash Subasinghe, a well-known entrepreneur, assumed duties as the new Chairman of the Sri Lanka Export Development Board (EDB) yesterday (19th). He said that he was proud to be a Sri Lankan and intends to take every possible step to take Sri Lanka to the world. “I am quite honoured to take up this position because I have dedicated my entire life to take Sri Lanka to the world through my numerous business ventures. Now with this appointment, I get the opportunity to take the entire export sector of Sri Lanka to the world”, the newly appointed EDB Chairman remarked.
Sri Lanka Export Development Board (EDB), has identified the export value of the Sri Lankan Ayurveda services back in 2013 and facilitated the International Trade Centre (ITC) to carry out a Study on Sri Lankan Health Tourism industry.
The Export Development Board (EDB), in collaboration with the Sri Lanka Consulate General in Shanghai, facilitated Sri Lanka’s participation in the second China International Import Expo (CIIE) held in Shanghai, China from 5-10 November.
