EDB’s export marketing planning and market pitching programmed boosts prospects for SMEs
Ada Derana: Sri Lanka’s Export Development Board (EDB) completed a comprehensive six-week export coaching programmed aimed at assisting small and medium-sized enterprises (SMEs) with an export potential, registered under EDB New Exporter Development Programmed (NEDP) to develop their Export Marketing Plans as the 1st step in their journey towards becoming export-ready. The New Exporter Development Programmed implemented by the Sri Lanka Export Development Board is aimed at developing the export potential of SMEs to enter export markets.
The programmed consisted of three phases. A group of 25 SMEs demonstrating export potential were selected by an internal evaluation panel as the 1st step of the programmed.
The second phase involved both individual and group training sessions on export marketing planning. A dedicated team of Export Development Board officers, trained by the International Trade Center (ITC) as Export Marketing Plan (EMP) coaches, conducted these informative sessions. SMEs received guidance from these officers in developing their export marketing plans for a selected product in a target market. Additionally, there were some knowledge sharing sessions for the SMEs on important aspects of export planning such as packaging development for the export market, marketing and branding, logistics and export documentations with the support of experts from the industry.
The final stage featured an Export Market Pitching programmed on December 5, 2023 where seventeen SMEs presented their export marketing plans, outlining their financial requirement for entry into the international market, such as obtaining market intelligence, quality enhancement, capacity building, packaging development, marketing and branding.
An external evaluation panel, including Rathnija Arandara- Senior Operations Officer- International Finance Corporations (IFC), Prof. B. Nishantha- Senior Lecturer, Faculty of Management & Finance, University of Colombo and Dr Dilhan Sampath Jayatilleke – Honorary Secretary, Sri Lanka Institute of Marketing (SLIM) evaluated the presented export marketing plans. Rosa Nelly- External Consultant- Import Promotion Desk, Germany participated the programmed as an observer and gave the feedback on the Export Marketing Plans presented.
Eventually, Lak Nature International Pvt Ltd, Serangreen Holdings Pvt Ltd, Saviru Spices and Naturals (Pvt) Ltd, Star Mushroom, Aqua Zone Ornamental Fish Farm Pvt Ltd, Cloud Content Marketing Pvt Ltd, Jay Ceylon Cinnamon Pvt Ltd, Nathuco Brown, Randee Super Food Pvt Ltd, St Theresa DC Mills Pvt Ltd were selected by the panel as the 10 best export marketing plans. The winning companies will be assisted by the Sri Lanka Export Development Board to implement their next stage of Export Marketing Plans.
OSL take:
Sri Lanka’s ongoing economic activities along with the target of becoming an emerging business destination in the South Asian region have resulted in the expansion of business/investment opportunities in the country. Sri Lanka’s geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed with other countries have also helped boost the opportunities in Sri Lanka. It is in such a backdrop that SMEs are being supported and strengthened by the local authorities to meet the expanding local and global demand. There is special focus on the export markets with local authorities looking at promoting local products in new foreign markets while also pushing for local manufacturers to expand their product portfolios. With Sri Lanka currently looking at further expanding trade ties with more countries, indicating an increase in business potential in the country’s manufacturing and export sectors, foreign businesses/investors could confidently explore the expanding opportunities. Foreign businesses/investors could also look at forming partnerships or joint ventures with local businesses, especially SMEs, engaged in the manufacturing and export sectors with the aim of further expansion.
| Article Code : | VBS/AT/20240103/Z_2 |