Sri Lanka's Apex Organisation for Export Promotion
The Sri Lanka Export Development Board (EDB) has made arrangements to facilitate export-oriented industries based on the circulars issued by the Government Health Authorities to continue operations of their activities during lockdown of specific areas in the country and inter-provincial travel restrictions subject to stringent health regulations.
Sri Lanka surpassed $ 1 billion exports in March 2021 after a lapse of six months period. As per the Customs statistics, earnings from merchandise exports recorded double digit growth of 62.47% in March 2021 on y-o-y comparison – the March figure being US$ 1,066.1 Mn.
Sri Lanka’s export earnings registered a growth of 2.52% with US$ Mn 993.73 in February, compared to the previous year, maintaining the growth momentum recorded during the last five months as per the provisional statistics released by Sri Lanka Customs. This is the highest export figure recorded for the month of February during the last five-year period.
Hon. Bandula Gunawardana, Minister of Trade urged the whole stakeholders to actively engage in assisting all exporters of the country in every possible manner during this turbulent period enabling exporters to strengthen our economy.
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 Sri Lanka Export Development Board (EDB) is forecasting a performance of $ 15.68 billion in merchandise and service shipments in 2021.
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.
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.
Spa Ceylon has reaffirmed its position as the world’s largest luxury Ayurveda chain, with their 100th store recently opening in Lisbon, Portugal, followed by the 101st in Warsaw, Poland and 102nd in Bratislava, Slovakia.
According to Customs monthly provisional exports statistics, merchandize export earnings have recorded a historical decrease by nearly 64% to US $ 277.4 Mn from US $ 772.57 Mn documented in April 2019.
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.
Sri Lanka Export Development Board organized an Export Promotional Mission to Toronto in Canada from 20 to 23 October 2019 in collaboration with the Sri Lanka Consulate in Toronto. The Ministry of Foreign Affairs of Sri Lanka partnered under the Economic Diplomacy Program (EDP) which enabled to organize Sri Lanka Pavilion at GIC in successful manner.
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.
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) is implementing a national programme to nurture 2000 new entrepreneurs to become exporters during the period 2017 - 2022 at regional level. The main objective of this programme is to encourage domestic enterprises to invest in export industries to achieve the overall export target of US $ 28 billion in 2022. Accordingly, the EDB has initiated integrated product and market development programmes for export potential SMEs, already registered with “2000 New Exporters Development Programme” to be developed as exporters in 2017-2022.
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.
