Sri Lanka records highest export income of US$ 17 bn | Daily News

Sri Lanka records highest export income of US$ 17 bn

Minister of Development Strategies and International Trade Malik Samarawickrema speaks at the event. EDB Chairperson and Chief Executive Officer Indira Malwatte, Deputy Minister Nalin Bandara and other officials also look on. Picture by- Chaminda Niroshana
Minister of Development Strategies and International Trade Malik Samarawickrema speaks at the event. EDB Chairperson and Chief Executive Officer Indira Malwatte, Deputy Minister Nalin Bandara and other officials also look on. Picture by- Chaminda Niroshan

Sri Lanka has recorded the highest ever export income of US$ 17 billion in 2018 which however falls short from the initial target set for the year, which is US$ 17.4 billion, Sri Lanka Export Development Board (EDB) Chairperson and Chief Executive Officer Indira Malwatte said.

Malwatte shared these views at a media networking event held at the EDB Auditorium yesterday to announce the achievements of EDB implemented projects in 2018 and EDB action plan for 2019.

Malwatte also congratulated Sri Lankan exporters for their continued achievements last year in the global market despite various headwinds.

“This has been a combined effort of the government and private sector institutions. We wanted to set a target high and work hard. Unless we set our targets high, we will become complacent. We are very proud that we have been able to achieve this target. And also, we are confident that we will be able to successfully achieve the US $ 20 billion export revenue target, set for year 2020,” she said.

Meanwhile Minister of Development Strategies and International Trade Malik Samarawickrema said that on the Foreign Direct Investment (FDI) front, he is upbeat about Sri Lanka achieving US $ 2.2 billion worth of FDI in 2018 and US$ 3 billion worth of FDI in 2019.

The Minister also mentioned that the Cabinet approval has been obtained for another initiative, named ‘Enterprise Innovation Scheme’, which will soon get underway.

“This is part of the ‘Innovation and Entrepreneurship Strategy 2018-2022’ that was also approved last year, and the EDB has been a lead partner in that initiative. Together with the EDB’s other ongoing activities, these transformational initiatives will change the export landscape in this country. We have not had this kind of systematic and well thought out set of initiatives to support our Sri Lankan entrepreneurs for a long time.”

“These initiatives don’t put concrete on the ground and don’t look like flashy projects, but rather are the real nuts and bolts of what it takes to create sustainable high-income earnings jobs in the export sector,” Minister Samarawickrema said.


 

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