Sri Lanka targets $36 billion in export earnings by 2030
Daily Mirror: The Sri Lankan Government has set a target of increasing Sri Lanka’s export earnings to US $36 billion by 2030, with strategies and challenges discussed at the second meeting of the Export Development Council of Ministers (EDCM) held recently under the patronage of President Anura Kumara Dissanayake at the Presidential Secretariat.
According to the President’s Media Division (PMD), the meeting reviewed progress on decisions made at the previous session and examined obstacles to achieving the target, while considering proposals and potential solutions.
Discussions covered a wide range of export development priorities, including advancing the gem and jewellery industry, installing a new scanning machine to boost customs efficiency, promoting pharmaceutical and poultry meat exports, developing tea and spice exports, implementing the Export Hub concept, expanding the Trincomalee Port, encouraging export-related investments, ensuring raw material supply for the electronics export sector, and negotiating new tariff agreements.
OSL take:
Sri Lanka’s export industry is on a steady growth path and is also a key revenue generator to the country. The increasing growth and business potential in the export industry and related sectors have opened many business/investment opportunities for foreign businesses/investors on the lookout for lucrative ventures. While the many trade agreements and trade concessions enjoyed by Sri Lanka with many foreign countries have helped boost the local export industry and related sectors, the country’s move to further expand its trade ties will undoubtedly give a further boost to the industry while also working on diversifying its export product portfolio. The Sri Lankan government has also introduced many incentives to attract more foreign investments to the industry and has therefore set ambitious revenue targets for the exports industry and related sectors. All these have resulted in the expansion of business/investment opportunities in the export industry in line with the overall industry expansion. The growth, profits and expansion of businesses already in the export industry and related sectors as well as the interest shown by foreign businesses are all indicative of the increasing business potential in Sri Lanka’s export industry and related sectors.
| Article Code : | VBS/AT/20250815/Z_7 |