The Sri Lanka National Export Strategy (NES) is a catalytic export driver stimulating the economy. Through strategic demand and supply interventions, the NES will strengthen the capacity of export related service providers and enterprises, while simultaneously opening new pathways and transforming exporters to new competitive heights. The NES provides a unique window of opportunity for Sri Lanka to modernize and start a new cycle of export growth through the multifaceted approach it advocates. With competitive opportunities to lead as one of Asia’s fastest growing export nations, the NES will create new Sri Lankan champions while supporting the growth of traditional export industries. The NES addresses the prominent systemic issues of policy and regulatory framework reforms, export diversification, innovation, market entry, compliance, and logistics barriers.
The NES consolidates national level findings and priorities into a coherent roadmap to achieve Sri Lanka’s export vision: “Sri Lanka an export hub, driven by Innovation and Investment”. This vision is guided by four strategic objectives, they are; creating a predictable and transparent policy and regulatory framework, drive export diversification through innovation, strengthening emerging export sectors by improving market entry and compliance capacities, and to be an efficient trade and logistics hub.
The NES is closely aligned with the National Policy Framework: Vistas of Prosperity and Splendour. The Strategic objectives of NES are well intertwined with the national policy areas of: technology based society, productive citizenry and vibrant human resources, and people centric economic development.
The NES builds on consensus from the entire export community about the upcoming tasks and the heaviest roadblocks to be dislodged. It defines a detailed road map for faster export growth and acknowledges that things need to be done differently if trade is to contribute more to economic development. Sri Lanka’s NES was developed based on a participatory approach during which over 500 Sri Lankan industry leaders, small business owners, public sector representatives and academics held consultations to reach consensus on key sector competitiveness issues and priority activities. These inclusive platforms were held in regional hotspots throughout the country.
The NES focuses on the short and medium term approaches aimed at elevating the export sector of Sri Lanka from its current level of approximately USD 10 Bn annual figure to USD 28 Bn by the year 2022 through a well-coordinated process involving all relevant private and public sector stakeholders and the optimal use of the country’s resources and capabilities.
The NES provides a unique window of opportunity for Sri Lanka to modernize and start a new cycle of export growth. It advocates a multifaceted approach which is devised incorporating the thoughts of related stakeholders. The NES builds on consensus from the entire export community about what is needed to boost the country’s export performance.
NES lays out a detailed roadmap for faster export growth and acknowledges that things need to be done differently to ensure a higher contribution from export trade to the economic development. Sri Lanka now has the opportunity to catch up to fast-growing Asian exporting countries. The NES will create new champions while supporting the growth of traditional industries. Expansion of higher-technology and knowledge-intensive exports will be favored because they are less vulnerable to market variations. Improving the business environment for all Sri Lankan enterprises. The NES creates the conditions for diversification by strengthening emerging sectors as well as improving overall trade support in areas that affect all exporters, such as logistics, trade information and quality assurance. Improving these trade support functions will benefit not only emerging sectors but all Sri Lankan export industries.
View NES Strategic Vision
