EDB collaborates with ADB to develop National Export Development Plan 2025-2029
Daily FT: Sri Lanka’s export engine is gearing up for a major revamp as a high-level delegation from the Asian Development Bank (ADB) met with officials of the Sri Lanka Export Development Board (EDB) kicked off plans to initiate the formulation of the National Export Development Plan (NEDP) for 2025-2029.
The high-stakes meeting on 25 April marked the start of a bold new strategy to catapult local industries onto the world stage and unlock untapped trade potential.
This ambitious initiative, which stems from the 2025 Budget under the “A Thriving Nation – A Beautiful Life” policy framework, aims to position exports as a central driver of the country’s economic transformation. A core strategic goal set during the meeting was to raise Sri Lanka’s export revenue to $ 36 billion by 2030. The NEDP is being developed as part of a policy-based loan (PBL) program between the ADB and the Industry and Entrepreneurship Development Ministry. It is expected to remain the transformative blueprint for repositioning Sri Lanka in the global trade landscape.
Building on the foundation laid by the National Export Strategy (NES) 2018-2022, the new plan is designed to be more data-driven, sector-targeted, and forward-looking. It incorporates lessons from past efforts and places greater emphasis on technology integration, sustainable practices, and regulatory reforms that can create a more agile and competitive export environment.
During the initial discussions, key themes emerged that will shape the new export roadmap. These included the urgent need for export diversification to reduce dependence on a few traditional sectors, expansion into new international markets, and the integration of value-added production across industries.
The ADB and EDB officials highlighted the importance of aligning all stakeholders — including government bodies, the private sector, and development partners — around a cohesive and shared export vision.
To achieve this, both institutions agreed that the NEDP must prioritise digital transformation in trade processes, bolster product and market competitiveness, and improve access to international value chains — particularly for small and medium-sized enterprises (SMEs).
ADB officials also emphasised the critical importance of defining a clear and empowered role for the EDB in coordinating and monitoring the plan’s execution. They called for the formation of a dedicated core team, the establishment of a detailed action plan with realistic milestones, and the implementation of robust monitoring and evaluation mechanisms.
OSL take:
The growth recorded by Sri Lanka’s exports sector and the future growth potential of the sector; all present many business/investment opportunities. It is in such a backdrop that Sri Lanka is developing a National Export Development Plan 2025-2029 aimed at ensuring a steady growth in the local exports sector. The many trade agreements as well as trade concessions enjoyed by Sri Lanka with many foreign countries that are being further strengthened and expanded as well as the incentive schemes offered by Sri Lankan authorities for businesses entering the exports sector add to the attraction of Sri Lanka’s exports sector as a lucrative business venture for foreign businesses/investors. Apart from exploring and doing business in Sri Lanka’s exports sector, foreign businesses/investors could also look at expanding operations through partnerships or joint ventures with local businesses. Sri Lanka’s geographical positioning in the Indian Ocean also presents the ideal venue for foreign businesses to set up their operation bases to engage with other countries in the region using the preferential treatment enjoyed by Sri Lanka with them.
| Article Code : | VBS/AT/20250509/Z_3 |