Sri Lanka's Apex Organisation for Export Promotion
Sri Lanka surpassed $ 1 billion exports in March 2021 after a lapse of six months period. As per the Customs statistics, earnings from merchandise exports recorded double digit growth of 62.47% in March 2021 on y-o-y comparison – the March figure being US$ 1,066.1 Mn.
The Sri Lanka Embassy in Oman jointly with the Sri Lanka Export Development Board (EDB), recently organised a virtual B2B meeting between Carrefour Oman and eight prominent Sri Lankan fruits and vegetables exporter companies, to boost Sri Lankan exports of a variety of fruits and vegetables to the Carrefour Oman hypermarket chain, which has more than 12 outlets in the Sultanate of Oman.
The regulatory framework to develop Sri Lanka’s boat building industry was officially handed over to the implementing agencies under the patronage of Minister of Trade, Hon. Dr. Bandula Gunawardena on 29th March 2021 at the Trade Ministry.
The EDB’s effort in developing and promoting export potential Women Entrepreneurs took a new turn when it established the “EDB Women Entrepreneur Cell” in 2017, with the main objective of linking women and their associated businesses to commercially viable opportunities and value chains across the world, enabling economic and community development.
The Sri Lanka Export Development Board (EDB) in association with Sri Lanka High Commission in India organized a webinar to promote matchmaking and market-entry opportunities between Indian and Sri Lankan Electronic and Electrical manufactures with the assistance of All India Electronics Association (AIEA) on 17th March 2021. The online event was focused on achieving synergies between the Electronic and Electrical industries of both countries.
Sri Lanka’s export earnings registered a growth of 2.52% with US$ Mn 993.73 in February, compared to the previous year, maintaining the growth momentum recorded during the last five months as per the provisional statistics released by Sri Lanka Customs. This is the highest export figure recorded for the month of February during the last five-year period.
The Sri Lanka Export Development Board (EDB) in collaboration with the Sri Lanka Embassy in Japan has taken steps to promote identified Sri Lankan export products with high potential in the Japanese market for the next 3 years.
The Sri Lanka Export Development Board (EDB) launched the first stage of its New Exporter Development Programme – Activities for 2021 by conducting an awareness workshop for entrepreneurs in Hambantota district at Hambantota District Secretariat Auditorium on 10th March. The first awareness workshop was conducted for selected 40 small and medium-sized entrepreneurs in the district with the objective of developing new exporters and creating awareness on opportunities in the export market.
The Sri Lanka Embassy in the Sultanate of Oman jointly with the Export Development Board of Sri Lanka (EDB) organised an introductory webinar on the ICT/BPM sector, in collaboration with Knowledge Oasis Muscat (KOM) with the view to connecting Sri Lankan and Omani ICT/BPM sector companies.
The Sri Lanka Export Development Board (EDB) organized an Export Marketplace (Product Pitching) programme coinciding with the International Women’s Day with the objective of enhancing the export market penetration ability of export-potential women entrepreneurs registered under “EDB Women Cell” on 8th March, 2021, at the Auditorium of Hector Kobbekaduwa Agrarian Research and Training Institute (HARTI).
Hon. Bandula Gunawardana, Minister of Trade urged the whole stakeholders to actively engage in assisting all exporters of the country in every possible manner during this turbulent period enabling exporters to strengthen our economy.
The Gulf region has built a strong brand identity in the Food and Beverage space. UAE is blessed with a strategic location between East and West which makes its accessible to major emerging economies, linking shipping routes in Middle East, Asia, Europe and Africa. Gulfood Exhibition launched in 1987 and has currently become the World’s largest annual food and beverage trade show. The 2020 edition of the show has attracted more than 93,000 visitors & 5,000 exhibitors from 180 plus countries seeking business opportunities and exploring the latest F&B products and innovation.
Sri Lanka Export Development Board (SLEDB) new Chairman Suresh de Mel this week expressed confidence of giving the best shot at realising a near $ 16 billion target for 2021 despite domestic and global challenges. This confidence stems from a plethora of new initiatives as well as fine-tuning existing endeavours to develop and boost exports.
The Sri Lanka Export Development Board (EDB) is forecasting a performance of $ 15.68 billion in merchandise and service shipments in 2021.
The US$ 13.5 billion export target set for merchandise export sectors in early 2020 remains challenging, requiring not only strong efforts from local enterprises, but also the recovery of global demand amid complicated Covid-19 situation. Amid severe impacts of the Covid-19 pandemic, Sri Lanka’s merchandise exports remain at US$ 9.9 billion in 2020, which is a 104 % achievement from the revised forecast of US$ 9.5 billion.
As per the Customs statistics, earnings from merchandise exports recorded a negative growth of 20.97% in November 2020 to US$ 747.58 Mn as compared to the value of US$ 978.80 Mn recorded in November 2019 due to the adverse impact of 2nd wave of Covid 19 pandemic within the country and globally. Reduction recorded in October exports due to the C19 outbreak in Sri Lanka which has had a direct impact on our manufacturing and export facilities also continued in November 2020.
Since the UK is the main market for Sri Lanka’s exports to the EU region and the second largest export market after the USA, it is important for Sri Lanka to receive the same tariff preferences it was enjoying prior to Brexit when trading with the UK in the post Brexit period.
As per the Customs statistics, earnings from merchandise exports recorded a negative growth of 14.9% in October 2020 to US$ 831.72 Mn as compared to the value of US$ 977.3 Mn recorded in October 2019. This poor performance is due to the adverse impact of 2nd wave of Covid 19 pandemic within the country and globally.
The Export Development Board (EDB), expressing its concern about the resurgence of COVID-19 in main markets, has called on the private sector to plan and prepare as it is threatening to impact trade once again.
