President Anura Kumara Disanayake directed officials to take the necessary steps to increase export revenue to $36 billion by 2030.
The President expressed these views during the meeting of the Export Development Council of Ministers (EDCM), held today (27) at the Presidential Secretariat.
Export revenue, which stood at USD 16.1 billion in 2024, is expected to rise to USD 18.2 billion this year, with a long-term goal of reaching USD 36 billion by 2030 through a comprehensive action plan.
strengthening domestic production,lleverageing Sri Lanka’s strategic location, human resources, and natural assets to develop a sustainable industrial growth plan is planed. e.
attracting Foreign Direct Investment creating a conducive environment for new investments, reducing production costs, and ensuring the availability of essential infrastructure and resource was also discussed.
A decision was made to establish a VAT refund system at the airport for goods purchased by tourists.
It was also decided to permit the “inspection of railway engines” manufactured in Sri Lanka, which had previously posed a barrier to exports, to be conducted within the country.
Renewable energy sources to reduce costs within the export industry was discussed .
It was decided to provide export incentives for the export of gems and jewellery by identifying the correct export value through an appropriate method.
The government has focused on the export of electronic equipment and devices manufactured locally.
Special attention was given to the digitalization of data systems related to the export industry in the implementation of the above decisions.
The EDMC, established on September 11, 1980, has met sporadically over the years. However, it had not convened between 1992 and 2020, and even in 2020, no significant decisions were implemented. This meeting in 2025 marks the resumption of the committee’s activities after a gap of 28 years, making it a notable milestone.
The committee comprises representatives from various ministries, including Trade, Shipping, Plantations, Agriculture, Industry, Textiles, Fisheries, Finance, Foreign Affairs, Supply Chain, and Rural Development. Its primary objective is to enhance Sri Lanka’s global competitiveness by formulating and implementing national export development policies and programs.
Notable attendees at the meeting included Minister of Industry and Entrepreneurship Development Sunil Handunnetti, Minister of Transport, Highways, Ports, and Civil Aviation Bimal Rathnayake, Minister of Plantation and Community Infrastructure Samantha Vidyarathne, Minister of Trade, Commerce, Food Security and Co-operative Development Wasantha Samarasinghe, Minister of Rural Development, Social Security, and Community Empowerment Dr. Upali Pannilage, Chairman of the Sri Lanka Export Development Board (EDB) Mangala Wijesinghe, Secretaries of relevant ministries and a group of state officials. (PMD)
