Tuesday Oct 13, 2026
Tuesday Oct 13, 2026
Tuesday, 13 October 2026 01:33 - - {{hitsCtrl.values.hits}}
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| EDB Chairman and CEO Mangala Wijesinghe |
The Government is placing exports at the centre of its growth strategy, backing a new national export plan with a commitment to policy consistency, wider trade agreements and new incentives, the Export Development Board (EDB) said yesterday, as it urged foreign investors to help Sri Lanka move into higher-value global supply chains.
Speaking at the investment panel of the Sri Lanka Economic and Investment Summit (SLEIS) 2026, EDB Chairman and CEO Mangala Wijesinghe said the Government saw exports as essential to sustaining development and creating employment. “Policy consistency will be there,” he told investors.
The National Export Development Plan, prepared over more than eight months with exporters and other stakeholders and approved last week, aligns 32 State institutions behind 130 action plans, Wijesinghe said. Its objectives are to expand Sri Lanka’s trade, widen regional and global market reach and promote sustainable trade and growth.
The plan shifts the policy focus from commodities and basic manufacturing to high-value, specialised and technology-driven products, from bulk commodities to branded exports, and from traditional services to digital and knowledge-based offerings. On markets, it seeks to strengthen Sri Lanka’s position in the US and EU, which take about half its exports, while expanding into Africa, the Middle East and Asia.
The plan goes beyond the private sector to address the enablers exporters need, Wijesinghe said. These include more efficient port and logistics operations, access to finance, trade promotion in potential markets, international certification and a skilled workforce. The Government is also focused on expanding trade agreements, including a possible move into the Regional Comprehensive Economic Partnership (RCEP), to give exporters wider market access.
The EDB plans to introduce exporter registration, hopefully next month, which will form the basis for further support, and has proposed incentives to the Government to encourage exporters, he said.
Making the case for investment, Wijesinghe said Sri Lanka was well recognised for premium heritage products such as Ceylon tea, Ceylon cinnamon, coconut products, spices and tropical fruits and vegetables, as well as for ethical and sustainable agricultural practices, driving growing demand for value-added and organic products.
The country also has established manufacturing capabilities in apparel, rubber, textiles, electronics, ICT and gems, he said. Apparel, which accounts for 30-32% of exports, has built international demand on ethical manufacturing practices, while the electrical and electronics sector has been growing at 20-30% a year and has expanded by more than 30% in the first eight months of this year. The ICT sector employs over 150,000 professionals and is growing at 10-15% a year.
“Given Sri Lanka’s scale, we cannot compete on volume, but we can compete on value addition,” Wijesinghe said.
Foreign direct investment (FDI), he argued, was strategic for both production capability and international competitiveness, and should not be viewed only as a source of finance. Foreign investors could bring technology, modern management practices, access to international markets and support in meeting certification requirements, while building linkages between multinationals and Sri Lankan firms supplying materials, logistics and packaging.
Wijesinghe identified advanced manufacturing, including product testing and processing to meet international certification standards, as a key area for investors, along with research and development, AI, digital infrastructure such as data, e-commerce and cybersecurity, skills training in engineering, IT and operations, and sustainable production, including energy efficiency and waste management.
High-potential sectors for investment include auto components, high-value minerals such as graphite and mineral sands, marine services, electrical and electronics, ICT, rubber-based industrial and healthcare products, pharmaceuticals, apparel, textiles and accessories, food processing and logistics, he said.
Exports, which have grown steadily at 5-6%, are expected to rise by 6-7% this year despite challenges in the Middle East, where transport costs have increased.
The EDB will also hold Sri Lanka Expo 2027 from 14 to 17 January, 2027, the first such exhibition in 15 years, targeting more than 1,500 foreign buyers. Over 900 have already registered, and the event will include B2B meetings. “As an investor, you can see the opportunities available in Sri Lanka, and this will be your ideal destination for investment,” Wijesinghe said.
