Sri Lanka's Apex Organisation for Export Promotion
The two crucial keys to achieving success are careful selection of likely countries for your product and plenty of 'desk research' in order to identify those markets’ characteristics. The company needs to conduct trade data analysis to determine which market/s demand is coming from, growth trends and current suppliers to that market. It is mandatory to meet the regulations, product quality standards, labeling standards, consumer protection rules and other specifications laid down in the chosen market/s.
Beyond the Sri Lankan trade scenario, the exporter needs to understand the Sri Lanka’s bilateral relations and trade agreements (if any) with his market/s of interest. The exporters should be familiar with tariff & non tariff barriers governing the import of product / service into the selected market/s. The exporter should also possess sufficient production /supply capacity of the selected product & marketing capabilities.
Companies can use the EDBs Business Library to gather information required to conduct market research and also use product/market Advisory services provided by the relevant Divisions.
Refer the ‘Export Products’ & 'Export Services' sections in this website for information on products/services currently being exported from Sri Lanka.
Although most goods are freely exported, there are certain goods that can only be exported under an export license issued by the Controller of Import & Exports while others can be exported with annual registration & approval from the relevant government agencies. Some items are prohibited or restricted for exports. Please refer the “Export Procedure of Sri Lanka” in the For Sri Lankan Exporters section for more information
A person exporting any article of commercial value from Sri Lanka is required to register with following institutions.
To register with the above institutions, the exporter is required to produce the original Business Registration Certificate or certificate of Incorporation and other related documents along with duly completed application forms which should be obtained from above Institutions.
The EDB operates training program & certificate courses to educate exporters and potential exporters on international trade.
Course on Operational Aspects of International Trade
Certificate Course in Import/Export Procedures
The EDB- Regional Development Division offers the following services and facilities to the Small & Medium Exporters/Potential Exporters through the EDB regional offices.
There are several ways companies can source for such contacts :-
Companies can log on to the EDB’s website for the list of all trade fairs/trade missions organized within a calendar of year. Advertisements calling for applications from the eligible companies to participate at the events are published in the daily news papers and could be also downloaded from the EDB website.
When pricing products for the export market various factors have to be considered. Apart from the cost of production, the other cost that must be taken into consideration are
It is also important to determine which segment of the market the product is for and what are the prices of similar products being sold in the market.
Inquire about advice on Export Packaging
Mr. Dinesh Attanayake
Export Promotion Officer
Export Services Division
+94-11-230-0705 / 11 Ext. 282
[email protected]
The terms of payment agreed between the exporter and the importer depends on how well the exporter knows the importer, risk involved in the transaction, and the volume of business. Methods of payment for foreign trade are :
Advance Payment
The most favoured payment method for export is advance payment. In this method of payment the buyer remits money to the seller (exporter) before the goods are shipped, generally with the order.
Letters of Credit(L/C)
A letter of credit is a written undertaking given by a bank (issuing bank) to the seller (beneficiary) at the request and in accordance with the instructions of buyer (applicant of the credit) to make payment up to a stated sum of money within a prescribed time limit against stipulated documents, complying with all terms and condition of the credit.
Documentary Collection
The seller used the service of a bank in his country (Remitting Bank). Then the remitting bank will get the service of a bank in the buyers country (collecting bank) to collect the payment from the buyer. If everything goes smoothly the buyers bank (collecting bank) will collect the payment and remit same to the sellers bank.
The documentary collection cold be categorized under two headings:
Open Accounts
An arrangement between the seller and the buyer for the buyer to settle his debt at a pre-determined, future date i.e. at the end of the month or one month after each shipment. Under this method both the goods and documents are sent direct to the buyer in advance.
Consignment Accounts
This method is somewhat similar to the open Account System. Goods and documents are sent to the buyer direct. The buyer remits to money to the seller with the sales account agreed intervals or on completing of the sale.
Certificate of Origin is to certify that the product is produced in Sri Lanka. Certificate of Origin (GSP Certificate) is issued by the Department of Commerce and certain countries request for Country of Origin certificates issued by Chambers (Ceylon Chamber of Commerce, National Chamber of Commerce)
Sri Lanka Export Credit Insurance Corporation (SLECIC) is a statutory body which operates under the Ministry of Finance & Planning.SLECIC is the sole organization which is providing Export credit insurance (ECI) in Sri Lanka
The Corporation is committed to provide attractive and innovative Export Credit Insurance and Guarantee support services for the development of exports of Sri Lanka
Level 4, NDB-EDB Tower,
No 42. Navam Mawatha,
Colombo 02,
Sri Lanka.
+94-11-230-7507
The exporters should forward quality products within agreed time frames with all documents required for clearing the shipments to fulfill buyers’ needs and avoid disputes. When dealing with a buyer, they should take all precautionary measures to secure the payments for their export shipments. Those who export under Open Account terms are advised to check the credibility of the buyer and take Export Credit Insurance prior to effect the export shipment.
The trade officers stationed in Sri Lankan Embassies/High Commissions could assist you to resolve disputes related to foreign buyers. You may forward your complaint with supportive documents to the Department of Commerce.
The EDB's trade information service is designed to meet the information requirements of those engaged in activities related to international trade.
Information can be obtained through EDB Portal, visiting EDB Business Library , meeting product/market officers and also through EDB publications.
The EDB operates training program & certificate courses to educate exporters and potential exporters on international trade.
Course on Operational Aspects of International Trade
Certificate Course in Import/Export Procedures
What type of training programmes are organized by the EDB?
Workshops and seminars organized by EDB nurtures and update exporters on trade developments and business opportunities in the international market. Various topics are covered such as export opportunities in new and emerging markets, enhancing product image, technical requirements and changes in market trends. Companies can view the list of trainings / workshops for the year from EDB Calender of events.
Local trading companies and foreign companies who are looking for Sri Lankan exporters can access online Sri Lankan Exporters database which comprises 180 product categories.
Yes, The Exporters can register with the Online Directory of Sri Lankan Exporters to list their company profile, eMARKETPLACE to sell/promote their products/services. They also can get their Web Advertisements published in the EDB website, link their own website to www.srilankabusiness.com through Web Links and register for the Online Trade Statistics Service.