EDB holds first high-level meeting with exporters as US tariffs bite

Friday, 8 August 2025 00:12 - - {{hitsCtrl.values.hits}}

Session chaired by EDB Chief Mangala Wijesinghe, joined by Treasury, Industry and Trade Ministry Secretaries, focuses shift from viewing tariff as obstacle to exploring market diversification, product innovation and value addition
Outline financial support, industrial adaptation and trade policy strategies for affected exporters
Exporters share concerns, experiences and solutions during interactive discussion

The Sri Lanka Export Development Board (EDB) on Wednesday held its first high-level discussion with leading export stakeholders to craft a coordinated response to the 20% tariff recently imposed by the US on Sri Lankan goods.

The meeting marked the first concerted effort to coordinate industry and Government action since the latest decision, which has intensified pressure on Sri Lankan exporters already navigating a challenging global trade environment.

The session, chaired by EDB Chairman and CEO Mangala Wijesinghe, brought together senior Government officials, including Treasury Secretary Dr. Harshana Suriyapperuma, Industry and Entrepreneurship Development Ministry Secretary Thilaka Jayasundara, and Trade, Commerce, Food Security and Cooperative Development Ministry Secretary K.A. Vimalenthirarajah.

Rather than viewing the 20% US tariff merely as an obstacle, attention was focused on strategies for market diversification, product innovation, improving operational efficiency, and adding value to maintain competitiveness.

Wijesinghe opened the session, emphasising the importance of a unified program in the export industry to face the tariff challenge. Strategic addresses by three key Government secretaries regarding policies and support mechanisms that the Government is set to implement for businesses affected by the US tariff impact were a special feature of this discussion.

Treasury Secretary Dr. Suriyapperuma provided important insights into the Government’s financial strategy to support exporters affected during this challenging period. Industries Ministry Secretary Jayasundara provided special insights into industrial adaptation strategies and innovation, while Trade Ministry Secretary Vimalenthirarajah shared views on immediate and long-term trade policy responses.

A special feature of this discussion was the comprehensive presentation on “Market Opportunities Available to Sri Lanka under New American Tariffs” presented by EDB Market Development Division Acting Director Saumya Kannangara. This presentation outlined the potential for Sri Lankan exporters to diversify their exports to find new market segments, develop alternative trade strategies, and reduce dependence on US markets.

Allocating considerable time for interactive discussion and Q&A, exporters were given the opportunity to raise specific issues, share practical experiences, and present suggestions for innovative solutions.

The session concluded with the aim of continuous dialogue, follow-up meetings, and utilising emerging opportunities in European, Asian, and other international markets, while minimising the immediate impact of tariff restrictions.

EDB Acting Director General – Development Kumudinie Mudalige, other directors and officials, export manufacturing association representatives, chamber of commerce representatives, other Government officials, and exporters gathered for this purpose.

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