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 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.
The Sri Lanka Export Development Board (EDB) in collaboration with the Sri Lanka Association of Manufacturers and Exporters of Rubber Products (SLAMERP) and Plastic and Rubber Institute of Sri Lanka (PRISL) organized a two (2)-day virtual workshop on advanced technology and smart manufacturing to upgrade the knowledge of the industry on technological advancements in the global rubber industry by obtaining the services of local and international technical experts on 18th & 19th December, 2020. This was the third such workshop organized as a follow up to the past workshops in 2018 and 2019 on product Innovation, technology and R&D for the Sri Lankan tyre manufacturing industry.
Embassy of Sri Lanka in Turkey and the Sri Lanka Export Development Board (EDB) jointly organized a Webinar and Business Networking Session last week in collaboration with the Turkish Economic Relations Board (DEIK). More than 85 participants attended the webinar.
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.
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 Embassy of Sri Lanka in Brasília, under the Economic Diplomacy Program initiated by the Ministry of Foreign Affairs and with the patronage of the Department of Commerce, the Export Development Board, the Coconut Development Authority, and the Sri Lanka Tea Board, held a trade promotional program in the State of Minas Gerais from 15 to 17 October.
Sri Lanka Association of Manufacturers and Exporters of Rubber Products (SLAMERP) has initiated discussions with Ministry of Development Strategies International Trade (MODSIT) along with Export Development Board (EDB) and the Board of Investment (BOI) to develop a dedicated rubber City/Zone. This action is part of the rubber masterplan that was launched in 2016/2017 to increase rubber exports.
Sri Lanka yesterday launched the official website announcing the country’s participation in the six-month long Expo 2020 Dubai, anticipating a major boost to exports, tourism and investments while looking to enhance the country’s brand value and image globally.
Indira Malwatte, Chairperson & Chief Executive of EDB and the Commissioner General of Sri Lanka for Expo 2020 Dubai together with the private sector stakeholders; Secretary Generals of the National Chamber of Exporters and National Chamber of Commerce of Sri Lanka, Shiham Marikkar and Bandula Dissanayake and the Co- Chair Planning Sub Committee of Expo 2020 Dubai, Fazal Mushin met Ahmed Ali Ibrahim Al Mualla, the ambassador for UAE in Sri Lanka this week at the embassy premises to further strengthen Sri Lanka’s commitment in participation at Expo 2020 Dubai and to review the progress made so far.
Mahela Jayawardena and Kumar Sangakkara - two of the most iconic cricketers produced by the country has come on board as Sri Lanka’s Brand Ambassadors for Expo 2020 Dubai organized by the Sri Lanka Export Development Board (EDB) as a public private cooperation project .
The 23rd Presidential Export Award Ceremony (PEA) organized by the Sri Lanka Export Development Board (EDB) was successfully held on 19th September 2019 under the patronage of His Excellency the President of Sri Lnaka at the Bandaranaike Memorial International Conference Hall (BMICH), Colombo with the participation of the large number of exporters. The award winners were presented a prestigious PEA Trophy and a Certificate & they have the privilege to use the “Award Logo” as a marketing tool for a 3 year period.
The 23rd Presidential Export Award Ceremony organized by the Sri Lanka Export Development Board (EDB) will be held on Thursday 19th September 2019 at the Bandaranaike Memorial International Conference Hall (BMICH) under the patronage of His Excellency the President of Democratic Socialist Republic of Sri Lanka.
Sri Lanka’s participation at Expo 2020 Dubai is set in a spectacular manner to ensure the strengthening of the country’s trade, tourism, and investments. The Sri Lanka Export Development Board plays a critical role, together with private and state organisations, to landmark Sri Lanka’s presence at this global event.
The Sri Lanka Export Development Board (EDB) in association with the National Research Council (NRC) held an awareness session on the NRC’s Public-Private Partnership (PPP) Programme on 29th July, 2019, at the EDB Auditorium targeting the exporter community. The aim of the session was to educate exporters about the modalities of the PPP programme.
“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.