President calls on exporters to seize new opportunities to lead economy
Daily FT: President Anura Kumara Dissanayake has urged exporters to seize new opportunities and drive economic recovery, stating the need for strategic engagement in global markets.
Addressing the 26th Presidential Export Awards at the Bandaranaike Memorial International Conference Hall (BMICH), he reaffirmed the Government’s commitment to supporting exporters as they rebuild the economic future.
The Presidential Export Awards, initiated in 1981 by the Sri Lanka Export Development Board (EDB), recognise exporters who make significant contributions to the economy. The latest edition honoured 14 major award winners and 51 companies across the production and service sectors, with recipients gaining the right to use the Presidential Export Award logo for three years as a global marketing tool.
Dissanayake reiterated his commitment to fostering an export-driven economic recovery, asserting the importance of trust between Sri Lanka and international economic stakeholders. He assured exporters that their concerns would be addressed and invited them to work alongside the Government to strengthen the economy.
“The Government’s role is to facilitate the conditions for success, but it is the exporters who must take the lead in rebuilding the country’s economic future,” he said.
Dissanayake also underscored the interconnected nature of the global economy, insisting that Sri Lanka must compete strategically for market share rather than adopting aggressive or reckless trade policies.
He called for well-structured trade agreements that align with Sri Lanka’s national interests, cautioning against hasty decisions that could have long-term economic consequences.
The President acknowledged the country’s weak market position, noting that external support was necessary to regain lost ground.
He stressed that economic stabilisation efforts had created a foundation for recovery and the Government was prepared to assist exporters in leveraging these for long-term growth.
Recognising the pressures faced by exporters, the President highlighted initiatives to provide technical assistance and support for high-quality product development.
He also outlined the Government’s focus on renewable energy, stating that lower electricity costs would contribute to the long-term competitiveness of Sri Lankan industries.
OSL take:
Sri Lanka’s exports industry is on a steady growth path while serving as a key revenue generator to the country. The local exports industry has also received a boost by the strong trade ties enjoyed by Sri Lanka with many foreign countries as well as the Sri Lankan government’s move to further strengthen and expand ties with more fire countries, thereby expanding market access for Sri Lankan exporters. Local exports authorities are also working on encouraging local exporters to diversify and expand their existing export product portfolios to expand foreign markets for Sri Lankan exports. It is in such a backdrop that the Sri Lankan President has also called on exporters to seize the growing opportunities. All these are indicative of the expanding business/investment opportunities in Sri Lanka’s exports industry that present a host of lucrative business ventures for foreign businesses/investors. Sri Lanka’s geographical positioning in the Indian Ocean and the improving ease of doing business environment in the country have also helped boost the business/investment opportunities in the local exports industry. Given the Sri Lankan government’s commitment to expand the local exports sector to cover more economic sectors, moving out of the traditional exports, the business/investment opportunities presented by the exports industry ensures quick returns on investment (ROIs). Foreign businesses/investors could also look at expanding operations in Sri Lanka and regionally by forming collaborations with Sri Lankan businesses already involved in the exports industry.
| Article Code : | VBS/AT/20250218/Z_3 |