EDB, IFC and EU unveil Sri Lanka Export Excellence Initiative 2025
Daily FT: The Sri Lanka Export Development Board (EDB), in collaboration with the International Finance Corporation (IFC) and the European Union (EU), has commenced the Sri Lanka Export Excellence Initiative (SLEEI) 2025.
Supported under EU’s regional initiative “Accelerating Climate Smart and Inclusive Infrastructure in South Asia (ACSIIS)” as part of the EU Global Gateway Strategy, the SLEIIis a strategic initiative to enhance the export capabilities of Sri Lankan SMEs. This initiative includes three components: I: ExpoNavigator for awareness raising and training, II: ExpoScaleUp for capacity-building and export marketing planning, and III: ExpoConnect for market access support through trade fairs and B2B meetings.
Officially launched on 28 January, the ExpoScaleUp component is aimed at supporting Sri Lankan SMEs from across the country to establish a sustainable export presence in international markets. The program focuses on key export sectors such as processed food and beverages, coconut-based products, spices and concentrates, herbal cosmetics, ICT/BPO services, handicrafts and lifestyle products.
The training program launched under ExpoScaleUp is designed to equip selected SMEs, including women-owned, with the necessary skills and knowledge to develop and implement effective export marketing plans. A key priority of the project is also strengthening the capacity of SMEs to adopt sustainable practices and smart climate strategies. The program will also include interactive sessions with industry experts and successful exporters who will share their experiences and insights.
Welcoming the distinguished guests and participants at the launch event, EDB Chairman Mangala Wijesinghe highlighted the importance of initiatives like SLEEI in driving Sri Lankan SMEs toward global success and offering them a pathway to long-term success in the global market.
Wijesinghe extended his appreciation for the partnership with IFC and EU for this timely initiative to support Sri Lankan SMEs.
IFC, a member of the World Bank Group, has been a long-standing partner of EDB over the years. Speaking on the latest partnership, World Bank and IFC in Sri Lanka Country Manager Gevorg Sargsyan said: “SMEs are the engine of Sri Lanka’s economy. By supporting their export ventures through trade facilitation, capacity building and access to finance, we can unlock significant economic growth and create jobs. This collaboration will play a crucial role in empowering SMEs to thrive in the global market, contributing to sustainable and inclusive economic growth for Sri Lanka.”
The European Union reaffirmed its commitment to SME development and sustainability, emphasising its role in driving economic growth in the region. The EU is dedicated to fostering resilience and innovation among Sri Lankan SMEs, equipping them with the tools and opportunities needed to compete sustainably in global markets. Through the ACSIIS program, the EU aims to integrate climate-smart and inclusive practices while enhancing connectivity to EU markets and beyond, ensuring a sustainable future for SMEs and the broader economy.
OSL take:
Sri Lanka’s exports sector is one of the key revenue generators to the country while recording a steady growth as well. Local authorities are engaged in further expanding the industry through promotional campaigns overseas as well as encouraging local exporters to diversify and expand the existing export product portfolios. This is in the backdrop of the Sri Lankan government’s move to increase the incentives being offered to further boost the local exports sector. Apart from these initiatives, the many trade agreements and trade concessions enjoyed by Sri Lanka with many foreign countries with moves to further expand ties to cover more foreign destinations have also given a boost to the country’s exports industry. The growth and profits recorded by local businesses engaged in the exports industry are indicative of the lucrative nature of businesses in Sri Lanka’s exports industry. Foreign businesses/investors could therefore confidently explore the expanding business/investment opportunities in the local exports industry while also looking at forming local collaborations to expand operations.
| Article Code : | VBS/AT/20250206/Z_4 |