Sri Lankan minister says Sri Lanka’s primary exports have grown 40 percent last year
Sri Lanka’s Primary Industries Minister Daya Gamage has reportedly said the country may easily exceed a 2025 target of US$ 1.5 billion exports in spices, fruits and vegetables and fisheries.
He has made this observation at the Regional Policy Forum of the Asia Pacific Rural and Agricultural Credit Association held in Colombo recently.
The Minister has also noted that primary agriculture exports have grown 40 percent last year.
According to Gamage, a number of initiatives have been launched by the ministry, including the construction of 23 agro processing zones, 10 mega fisheries zones, and entrepreneurship support for primary industries.
he has further noted that primary agricultural exports have grown 39 percent to US$ 454 million in 2017, from US$ 326 million in 2016.
“This has resulted in primary exports growing at a rate of 40 percent per annum since 2016,” Gamage has been quoted as saying in the local media.
“With this momentum we will be able to generate 5.0 billion dollars by 2025 which is three times higher than the target assigned to the ministry.”
The Minister has added that the government had set a target of US$ 1.5 billion by 2025 for him.
“The government is also helping potential entrepreneurs gain access to finances,” Gamage has said.
OSL take:
Sri Lanka’s primary exports sector has recorded a continuous growth since 2016 and shows signs of being able to reach its billion dollar target by 2015. Hence there are many investment opportunities in the country’s primary exports business. Interested foreign businesses could explore investment opportunities in Sri Lanka’s agriculture sector targeting exports.
| Article Code : | VBS/AT/20181011/Z_3 |