Tuesday Dec 23, 2025
Tuesday Dec 23, 2025
Tuesday, 23 December 2025 03:48 - - {{hitsCtrl.values.hits}}
Sri Lanka will launch its new National Export Development Plan (NEDP) for the 2026–2030 period in January 2026, Export Development Board (EDB) Chairman Mangala Wijesinghe said yesterday, outlining an ambitious roadmap to reposition the country as a stronger player in global trade.
He said the forthcoming plan builds on lessons from the National Export Strategy (NES) implemented between 2018 and 2022, while responding to changing global trade dynamics and the country’s post-crisis economic priorities.
“This initiative is central to positioning Sri Lanka as a competitive player in international markets,” he said.
According to Wijesinghe, the Government’s export strategy, embodied in the soon-to-be-published NEDP targets total export receipts of about $ 36 billion by the end of the four-year period, driven by accelerated growth in both merchandise and services exports.
“The finalised NEDP will be presented in January 2026 and will provide the roadmap for translating targets into investment, skills development, and new-market penetration. Once implemented, the combination of tariff reform, digital trade facilitation, renewed trade diplomacy, and focused sector development could substantially de-risk the economy and put exports on a higher-growth trajectory,” he explained.
The plan has been prepared by the EDB in partnership with the Asian Development Bank (ADB) following months of stakeholder consultations.
Wijesinghe said NEDP rests on three key pillars: Boosting trade competitiveness, expanding regional and global market linkages and promoting sustainable, trade-led growth.
“To capitalise on this momentum, the EDB plans to strengthen economic diplomacy and has set performance targets for Sri Lanka’s foreign missions,” he said, adding that a formal review of existing free trade agreements (FTAs) and preferential trade arrangements (PTAs) is underway, alongside proposals for negotiating new agreements to support the $ 36 billion export objective.
He noted that a Ministerial Committee chaired by Trade, Commerce, and Food Security Ministry Secretary K.A. Vimalenthirarajah has been constituted to evaluate current trade agreements and is expected to unveil its report by February 2026.
Wijesinghe said the EDB is also seeking to change the composition of Sri Lanka’s export basket by prioritising sectors beyond apparel, coconut, rubber, and tea, which together still account for around 60% of export value.
Market diversification will be another key focus of the strategy. While the United States remains Sri Lanka’s single largest export market, accounting for nearly 25% of export earnings, and Europe contributes about 22%, Wijesinghe said the EDB is pushing for deeper penetration into African, Asian, and Middle Eastern markets.
“Exports to these regions have grown by over 25% during the January–November period, underscoring their potential,” he said.
He also highlighted strengthened economic diplomacy efforts, with Sri Lanka’s foreign missions now assigned export performance targets.
Wijesinghe drew attention to significant policy reforms in the 2026 Budget, including an allocation of Rs. 80 billion to modernise Sri Lanka’s outdated tariff structure and create a more transparent, investor-friendly trade environment. He said long-delayed progress has also been made on the National Single Window.
“The long-discussed National Single Window has finally secured Rs. 2.5 billion in funding to move forward, enabling full online integration of key agencies including the Board of Investment, EDB, Customs, and the Land Ministry to streamline trade processes and shift to e-invoicing,” he said.
He added that the implementation of the National Tariff Policy will help streamline and reduce para-tariffs.
Wijesinghe also described the reactivation of the Export Development Council of Ministers (EDCM), chaired by the President and revived after nearly two decades, as a major governance milestone.
“The EDCM will play a key role in policy coordination, especially in light of the reconstruction needs following recent disasters. The Council, exporter forums, and sectoral task forces will be responsible for monitoring the implementation of the NEDP and ensuring that reforms remain aligned with national priorities,” he added.
He said 90% of the EDB’s planned activities for 2025 have already been achieved, largely due to direct policy intervention through the EDCM.
Wijesinghe also revealed 573 export companies were affected by Cyclone Ditwah, particularly in Colombo, Gampaha, Kurunegala, and Kandy districts. Of these, 362 were small factories, 113 medium-sized, and 98 large enterprises. The main challenges faced were disruptions to connectivity, transportation, and electricity supply.
“We have discussed these issues with all stakeholders and, together with the Industry and Entrepreneurship Development Ministry, have gathered information and are taking next steps to provide concessionary loans through banks and other trade facilitation measures,” he said.
Wijesinghe also said the EDB plans to expand exposure for new exporters through international trade fairs next year. Citing Gulfood 2026 in January, he said 61 exporters have already registered, with the majority being first-time participants.
He also highlighted an EDB initiative titled ‘Expo Scale Up’, a six-month handholding programme aimed at nurturing new exporters. “Through this initiative, we aim to build 3,000 new exporters,” he said.
Wijesinghe said the new strategy reflects a decisive shift in Sri Lanka’s export ambitions. “The goal is not only to boost revenue, but to transform the export sector into a more resilient and technologically advanced engine of the economy,” he added.
(CdeS)
