Akio Isomata Japan’s Ambassador to Sri Lanka has raised concerns over the absence of a clearly defined export and industrial strategy in Sri Lanka, warning that delays in action could erode investor confidence and stall emerging opportunities.
Speaking at a forum titled ‘Exports to Japan: Seizing the Opportunity Now’, organised by the Sri Lanka Japan Business Council, the Ambassador stressed that Sri Lanka must move beyond rhetoric and take concrete steps to boost exports.
“The crux of the matter for Sri Lankan exporters is seizing opportunities with action. We cannot afford to continue to ‘talk the talk.’ We really need to ‘walk the talk,’” he said.
No Visible Strategy
Ambassador Isomata noted that since assuming duties in Sri Lanka, he has been unable to identify a coherent export or industrial strategy.
“After arriving in Sri Lanka, I was trying to find this kind of strategy, but unfortunately, I haven’t seen any,” he said, calling for urgent and “vigorous reform measures” to improve productivity and competitiveness.
Referring to the proposed Export-Oriented Industrial Corridor linking Sri Lanka, India, and Japan—an initiative approved under the Government of President Anura Kumara Dissanayake—the Ambassador emphasised the need to accelerate progress.
While acknowledging that working groups have been set up on both sides, he warned that delays could result in waning interest from Japanese stakeholders.
“If we don’t act in a timely manner, the Japanese Government and business circles may lose interest in working together,” he cautioned.
‘Look East’ Amid Global Uncertainty
Highlighting rising global geopolitical tensions, particularly in the Middle East, Ambassador Isomata urged Sri Lanka to adopt a more strategic “Look East” approach.
He pointed to opportunities in Southeast Asia and India, noting that Sri Lanka’s domestic market alone is too small to attract large-scale Japanese investment.
“For Japanese investors, Sri Lanka as a market is too small. There’s a big market in India… so why don’t we use India?” he said, referring to the corridor initiative as a practical solution.
Need for Trade Policy Reforms
The Ambassador also underscored the importance of a robust trade policy framework, including better utilisation of existing Free Trade Agreements and the pursuit of new ones.
He suggested upgrading the current trade arrangement with India into a Comprehensive Economic Partnership Agreement to unlock greater economic benefits.
Calling for continuous improvements to the business climate, Ambassador Isomata said Japan remains ready to support Sri Lanka through institutions such as the Japan International Cooperation Agency and the Japan External Trade Organization.
“We have to try whatever we can to bring about concrete results. Japan and Sri Lanka have enjoyed a great relationship historically, but we must not be complacent,” he added.
Sri Lanka’s exports to Japan currently remain below $200 million annually, despite significant untapped potential across multiple sectors.
Source : Daily FT
