|
|
 |
 |
 |
| Tuesday, 19 October 2004 |
 |
|
 |
Business | |
| News Business Features Editorial Security Politics World Letters Sports Obituaries
|
Export development strategy Sri Lanka's exports have grown over the years, contributing a substantial proportion of foreign exchange to the coffers. Earlier, tea was the main export product. While the beverage still continues to enjoy a prime position in export rankings, garments and other non-traditional exports have increased drastically. With the emergence of globalisation and a tariff-free world trade order, it is vital to reinvigorate the export sector. Herein lies a challenge, as Sri Lanka does not have a coherent export development strategy. A review of the current policies and the adoption of clear export development guidelines are thus essential. President, National Chamber of Exporters of Sri Lanka, Kingsley Bernard told a recent seminar on Export Development Strategies that many reforms are required to achieve a sustainable economic growth through exports. He has pointed out many shortcomings that impede export growth. Inadequate infrastructure was cited as one of the main reasons that stifle economic growth, not just the export sector. Export-oriented enterprises cannot meet their product orders in time without a proper infrastructure set up - power, telecommunications and a network of good roads. Investments can prosper only when all these facilities click into place. After all, timely execution of orders is a must in the export sector - even a delay of one day can spell doom for an exporter, especially if he deals with perishable goods. A sound employer-employee relationship also facilitates production. Export-oriented businesses cannot thrive without industrial peace. Labour unrest adversely affects the production process and gives the exporter a bad name abroad. Just like infrastructure hiccups, strikes and labour disputes can delay time-specific export orders, leading to huge losses. The wheels of bureaucracy must also move fast for the speedy processing of export orders. A sizeable public service, coupled with the considerable number of departments and agencies which control the export process, does not make life easier for the exporter. It is therefore advisable to offer all export services under one roof - perhaps a one-stop shop on the lines of the Board of Investment. This will reduce the time taken for formalities and documentation. As the NCE President points out, the Government and the private sector need to devise strategies and create a corporate culture which can take advantage of the growing opportunities presented by the international environment. The demands of foreign markets vary from time to time in line with the latest trends. For example, garment exporters must know the latest developments in the fashion world - big-name retailers in the target markets do not want to be saddled with stocks of yesterday's fashions that no one wants to buy. They must also keep an eye on new markets for both traditional and non-traditional goods as well as new opportunities in old markets. Adopting the latest marketing tools is also important. A web portal allows foreign buyers to browse through product catalogues easily, get in touch with the exporter by email and even close a deal, all without leaving his office. Moreover, they can access such information 24-hours a day from anywhere on the planet. This does not mean that exporters should shun traditional marketing techniques such as participating in foreign trade fairs, which allow face-to-face interaction with buyers. They can also personally inspect the goods on offer. A blend of such old and new techniques will help our exporters to win more orders. However, winning more orders will remain only a dream if quality is compromised. It must be borne in mind that we are not the only pebble on the beach. Our competitors in Asia and elsewhere are constantly improving the quality of their products. We must match or exceed the quality of such products to keep up. A comprehensive export development strategy that takes these and other progressive suggestions by exporters into account should boost Sri Lanka's export revenues substantially. |
|
News | Business | Features
| Editorial | Security
Produced by Lake House |
