EDB and German IPB to ink market access pact

Wednesday, 25 February 2026 00:28 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers at their meeting on Monday approved a proposal to sign a cooperation agreement between the Sri Lanka Export Development Board (EDB) and the German Import Promotion Bureau (IPB), aimed at boosting Sri Lankan exporters’ access to the German and wider European markets.

“The proposed agreement is expected to create structured collaboration between the two entities, with a focus on enhancing export readiness, compliance with European standards and long-term market integration,” Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said at the weekly post-Cabinet meeting media briefing yesterday.

The move comes ahead of Foreign Minister Vijitha Herath’s visit to Germany next month.

The German Import Promotion Bureau is an institution established to facilitate and increase sustainable imports from developing and emerging economies into Europe.

Dr. Jayatissa said the partnership will particularly benefit Sri Lankan exporters in the natural raw materials sector and information technology outsourcing industry, as well as small and medium-scale enterprises (SMEs) and women-led businesses seeking to expand into Europe.

Through the agreement, he noted Sri Lankan companies are expected to receive technical guidance, market intelligence and capacity-building support to meet sustainability, quality and regulatory requirements demanded by German and European buyers. This is seen as increasingly important amid tightening environmental and due diligence standards within the European Union (EU).

Dr. Jayatissa said the initiative aligns with Sri Lanka’s broader export diversification and value-addition strategy, while also supporting inclusive growth by targeting SMEs and women entrepreneurs. “Strengthening ties with European institutions is expected to help local exporters improve competitiveness and secure stable, long-term trade relationships in high-value markets,” he added.

The resolution to sign the proposed cooperation agreement was furnished by the Industries and Entrepreneurship Development Minister Sunil Handunneththi and subsequently approved by the Cabinet.