A comprehensive and carefully structured five-year National Export Strategy (NES) aimed at increasing exports and generating enhanced revenue for Sri Lanka’s SMEs and exporters was approved by the Cabinet.
Sri Lanka’s economic growth, which is dependent on exports, requires continued structural changes aimed at greater diversification, innovation, productivity increases.
The National Export Strategy (NES) was developed by private and public stakeholders through extensive consultations which commenced from the First National Symposium held in April 2017 at Temple Trees, under the patronage of Prime Minister Ranil Wickremesinghe.
All export sectors including the mature sectors will benefit from the strengthening of trade support functions. These TSFs include National Quality Infrastructure, Innovation and R&D, Logistics and Trade Promotion. The NES for Sri Lanka was designed by the Ministry of Development Strategies and International Trade and the Sri Lanka Export Development Board (EDB) in consultation with private and public stakeholders.
Minister of Development Strategies and International Trade Malik Samarawickrama stated that the focus of the Government is to shift the economic growth model from one that was heavily dependent on debt fueled public infrastructure spending to growth driven by more public enterprises, exports and foreign direct investment.
Furthermore, the National Export Strategy will also complement other national initiatives such as the Enterprise Sri Lanka programme.
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