Sri Lanka's Apex Organisation for Export Promotion
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.
The commendable performance of Sri Lankan exporters and the resilience shown during an unprecedented COVID 19 pandemic is to be rewarded by the Sri Lanka Export Development Board, of the Ministry of Trade, through a proposed export stimulus Reward Scheme.
The first meeting of the Export Development Council (EDC) was held yesterday under the patronage of President Gotabaya Rajapaksa, focused on resolving issues related to exports in tandem with the National Export Strategy (NES) to be a game-changer in the post-COVID-19 economic transformation of Sri Lanka.
Sri Lanka’s exports during the month of August 2020 recorded a downfall of 19.2% to US$ 947.7 Mn as compared to the value of US$ 1,033.3 Mn recorded same month of last year.
Against a transformative and competitive regional backdrop, Sri Lanka aspires to become South Asia’s logistics hub. The leading impetus to this ambitious vision is Sri Lanka’s National Export Strategy (NES); and its prominence to the logistics industry. Directly employing roughly over 50,000 people industry-wide, the sector has an ambitious vision to grow from a traditional transshipment hub to a regional logistics center. Recognized as one of the fastest-growing transshipment hubs in the world, Sri Lanka offers a unique package of innovative multi-modal logistics services.
Sri Lanka’s exports have surpassed the $ 1 billion mark in July after six months time period where a similar achievement was only recorded in January during this year.
A webinar was held between the Sri Lanka High Commission and some tea importers in Pakistan on the 14th of July 2020 to exploit the market for Sri Lanka. The following observations were emphasized during the webinar;
Summary Article prepared by Consulate General of Sri Lanka on Important China news in major Chinese newspapers from 17.06.2020 - 16.07.2020
Bringing the best of Wellness Tourism to a domestic audience, the Sri Lanka Wellness Tourism Association (SLWTA) and the Export Development Board (EDB) concluded its third and final webinar of a tri-part series – Wellness: A New Paradigm in Sri Lankan Tourism, recently. Culminating with its final session on 10 July, a panel of high-profile industry experts comprising of Prof. Lal Chandrasena, GM, Nawaloka Hospitals; Dr. Lakith Peiris, MD, Hemas Hospitals; Dr. Shantha Godagama, President, UK Ayurvedic Medical Association; Dr. Palitha Serasinghe, Founder and Chairman of Setramed UK; Shalin Balasuriya, Co-Founder of SPA Ceylon; shared several exceptional insights, with Trevor Reckerman, Chairman, SLWTA summarising how Sri Lanka can position itself in the global wellness industry, through a well structured national action plan.
To strengthen quality and preserve originality, the Export Development Board (EDB) has kicked-off licencing of ‘Ceylon Spices’ trademark for qualifying producers, processors and exporters of cinnamon, pepper, clove, nutmeg and mace as well as cardamom.
The Sri Lanka Export Development Board (EDB), with the assistance of the Embassy of Sri Lanka in Germany and the Ministry of Foreign Relations, organised a free webinar on 15 July, on matchmaking and market entry opportunities available for Sri Lankan electronic and electrical sector exporters.
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.
According to Customs monthly provisional exports statistics, merchandize export earnings have recorded a historical decrease by nearly 64% to US $ 277.4 Mn from US $ 772.57 Mn documented in April 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.
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.
