“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.
Opening a new chapter in the exports playbook, the Government of Sri Lanka launched its flagship national agenda – The National Exports Strategy (NES) – in July 2018. The ambitions and outward looking agenda
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.
Sri Lanka is now officially an approved participant at the World Expo 2020 Dubai as the Government of Sri Lanka signed the Official Participation Contract with the "Dubai Expo 2020 Bureau” on 08th July 2019. The high level delegation to the UAE for the Contract signing Ceremony was led by Hon. Nalin Bandara, Deputy Minister of Development Strategies & International Trade. Ms. Indira Malwatte, Chairperson & Chief Executive, Sri Lanka Export Development Board as the Commissioner General for Sri Lanka of Expo 2020 Dubai, signed the Official Participation Contract on behalf of Sri Lanka with Mr. Najeeb Mohammed Al-Ali, Executive Director of Dubai Expo 2020 Bureau in the presence of Hon. Nalin Bandara, Deputy Minister of Development Strategy and International Trade.
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 visiting delegation to Dubai for signing of Official Participation Contract of Expo 2020 Dubai has met with Mr. Kamal Vachani, Group Director of Al Maya Group, a main Super Market Chain in United Arab Emirates. The Sri Lanka delegation for the meeting was led by Ms. Indira Malwatte, Chairperson & Chief Executive of Sri Lanka Export Development Board. Mr. Chaitha Yattogoda, Consul General of Sri Lanka in Dubai was also present for the meeting together with other private and public sector delegates.
Sri Lanka is making a renewed attempt to leverage its geographic advantage in the East-West shipping route, this time as a boat builder and marine tourism destination under the National Export Strategy. The five-year plan formally launched in July 2018 identifies boat building and its related services as one of five key industries to expand Sri Lanka’s export basket and increase export earnings to $ 28 billion by 2022.
Sri Lanka is the leading exporter of true cinnamon to the world and holds almost 80% of the global pure cinnamon market. However, the exporters of Ceylon Cinnamon to the world market, particularly within the European Union (EU) and North American markets, are facing rising competition from substitutes such as Cassia and other varieties of cinnamon supplied by Madagascar and the Seychelles.
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
The global wellness tourism market is expected to reach USD 1,062.83 billion by the end of 2025. The growing interests of the tourists towards the sectors such as health, travel, and foods are the factors driving the growth of the market over the forecast period. However, the rising number of tourist destinations in developing countries such as India and China have attracted more customers from the international market.
The Eighth seminar for the Ratnapura District entrepreneurs on the national program of developing 2000 New Exporters was held on June 07, 2019 at the Kethumathi Hotel, Ratnapura,
The logistics industry is reshaping and evolving its role to facilitate a new order of global trade, e-commerce and to reach out to the 21st century consumer with flexibility and speed, modernising the global supply chains. For this reason, strategic distribution hubs connected by air and sea and proximity to markets and transportation hubs makes a location suitable for international logistics to provide services at minimal costs.
Given Sri Lanka’s strategic geographic location along the main east-west sea route in the Indian Ocean, at the crossroads of the fastest growing region of the world with proximity to many emerging markets, the Country is ideally positioned as a very viable hub in the South Asian Region. Underscoring Sri Lanka’s attractiveness as a hub, the Port of Colombo is globally recognized among the top dozen ‘best connected’ container ports worldwide, with all major container shipping lines using it as the primary regional hub for transshipment to and from the sub-continent.
Sri Lanka has built a reputation for churning out world-class solutions for multi-billion-dollar industries around the world. Availability and access to top engineering talent, creativity and resourcefulness, and a collaborative mentality to co-innovate solutions differentiate Sri Lanka from other locations.
The Sri Lankan Association of Software and Services Companies (SLASSCOM) announces the signing of a strategic partnership with the Sri Lanka Association of Non-State Higher Education Institutes (SLANSHEI), the umbrella organisation formed through the initiation of seven leading private educational bodies addressing the needs of the non-state higher education sector in the country.
“Raavana 1”, Sri Lanka’s first satellite, a cube satellite designed and developed by a team of Sri Lankan engineers was successfully carried to International Space Station from NASA’s Wallops Flight Facility on Wallops Island, Virginia on February 18, 2019. “Raavana 1” will be deployed to 400km orbit in mid June 2019, and will be in operation from July 2019 onwards after establishing communication links with the ground station at Arthur C. Clarke Institute for Modern Technologies (ACCIMT). This was part of a landmark project of the Arthur C. Clarke Institute for Modern Technologies, functions under the purview of the Ministry of Science, Technology and Research. ACCIMT is a key public sector technology institute in Sri Lanka working in this unique field of Space Technology (or Space Engineering).