Sri Lanka's Apex Organisation for Export Promotion
The 1st of August, 2024, marks the 45th anniversary of the Sri Lanka Export Development Board (EDB). The EDB was established in 1979 with the objective of establishing a strong government-level institutional framework to develop and promote Sri Lanka’s exports in order to integrate with the global economy consequent to the adoption of liberal economic policies in 1977, and it has been at the vanguard in terms of promoting and developing exports in Sri Lanka for over four decades.
The Sri Lanka Export Development Board (EDB) successfully held its 24th Exporters’ Forum on the 25th of this month. The forum, a platform for discussing and resolving issues faced by exporters, was presided over by State Minister of Investment Promotion, Hon. Dilum Amunugama.
As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in June 2024 amounted to US$ 1,031.2 million, recorded an increase of 2.58 % compared to the month of June 2023. This was mainly due to the increase in earnings from export of Apparel & Textiles, Tea, Rubber based products, Coconut based products, Food & Beverages and Spices & Concentrates.
The Sri Lanka Export Development Board (EDB) recently hosted a workshop on the Fair Trade Certification Process in Sri Lanka bringing 02 prominent certification entities to a one platform. The workshop aimed to educate Sri Lankan producers and exporters about Fair Trade certification processes and the importance of acquiring such certification.
As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in May 2024 amounted to US$ 960.2 million, recorded an increase of 9.4 % compared to the preceding month, April 2024. Furthermore, export performance in May 2024 decreased by 5.81 % compared to May 2023. Figure 1 shows Monthly Merchandise export performance from the year 2021 to May 2024.
The Export Development Board (EDB) partnered with Germany's Import Promotion Desk (IPD) to conduct an improvement training session aimed at enhancing the competitiveness of a selected group of export-ready, women-led businesses in the area of costing and pricing. This initiative forms part of EDB's Women-Led Exports capacity-building program, designed to equip participants with essential skills and capabilities to decide on the prices of their products for entering the European market.
The Sri Lanka Export Development Board (EDB) and Germany's Import Promotion Desk (IPD) have embarked on an exciting journey to uplift a selected group of women-led businesses in the agriculture sector. This long-term Capacity Building Programme aims to empower these inspiring entrepreneurs to successfully enter and thrive in the European market.
The total exports (Merchandise & Service) for the month of April 2024 was recorded as US$ 1,114.22 Million increasing 1.25 % over the corresponding period of 2023.
The merchandise export performance in March 2024 amounted to US$ 1,138.9 million, recorded an increase of 9.77 % compared to March 2023. Furthermore, export performance in March 2024 increased by 7.51 % compared to the preceding month, February 2024. Figure 1 shows Monthly Merchandise export performance from the year 2021 to March 2024.
In a significant move towards attracting export-oriented businesses to Port City Colombo, CHEC Port City Colombo (Pvt) Ltd recently entered into a partnership with the Sri Lanka Export Development Board (EDB).
The merchandise export performance in February 2024 amounted to US$ 983.7 million, recorded a modest increase of 0.17 % compared to February 2023. Furthermore, export performance in February 2024 increased by 1.3% compared to the preceding month, January 2024.
The Sri Lanka Export Development Board (EDB) in collaboration with the Ministry of Industries and Department of Commerce organized a seminar on “Exploring Opportunities and Implications of the Sri Lanka-Thailand Free Trade Agreement" at the Auditorium of Postgraduate Institute of Management (PIM) on 29th February, 2024 for Sri Lankan exporters.
In Sri Lanka’s pursuit of transforming into a high-income country by 2048 involving trade negotiations with countries like Thailand, the Sri Lanka Thailand Free Trade Agreement (SLTFTA), was signed, during the visit of Thai Prime Minister Hon. Srettha Thavisin and his delegation of business dignitaries today (03/02/2024) at the Presidential Secretariat.
Sri Lanka’s total exports reached US$ 14.94 Bn in 2023 including merchandise exports (US$ 11.85Bn) and estimated service exports (US$ 3.08 Bn). It is only a 0.39 % decline when compare to the value recorded in previous year (US$ 14.99 Bn). Estimated increase in service exports is around 63%.
In a Strategic move to promote International Fair Trade and foster global cooperation, Sri Lanka officially signed the Framework of Cooperation (FOC) with international fair trade networks in Colombo recently. The signing ceremony, attended by representatives from major fair trade and supporting organizations, took place at the Colombo Ramada Hotel.
Sri Lanka’s merchandise exports increased by 4.4% to US$ 968.8 Million in November 2023 compared to October 2023 as per the provisional data released by the Sri Lanka Customs.However, it is a 2.67 % decrease when compared to the value recorded in November 2022.
The Sri Lanka Export Development Board (EDB), in association with the Import Promotion Desk (IPD), Germany, initiated a series of Capacity Building programmes for export-oriented Women Led Business in Sri Lanka. This initiation aims to foster a new set of women-led exporters to the nation’s economy.
Sri Lanka’s merchandise exports decreased by 14.6 % to US$ 898.0 Million in October 2023 compared to October 2022 as per the provisional data released by the Sri Lanka Customs. Also, it is a 13.13 % decrease when compared to the value recorded in September 2023.
The 25th Presidential Export Awards (PEA), organized by the Sri Lanka Export Development Board (EDB), was successfully held on November 23rd, 2023, under the patronage of Hon President Ranil Wickremesinghe at the Bandaranaike Memorial International Conference Hall (BMICH), Colombo, with the participation of a large number of exporters. The award winners were presented a prestigious PEA trophy and a certificate, and they have the privilege to use the “Award Logo” as a marketing tool for a three-year period.
Colombo Port City Special Economic Zone (SEZ) positioned as an extension of Colombo’s existing Central Business District is a 269 Ha land reclamation project in the heart of South Asia. This mega development is a testament to Sri Lanka's commitment to becoming a global economic hub. The SEZ designation brings a myriad of benefits, making it an attractive destination for businesses and investors alike.
