Promotional prospects for professional services in Sri Lanka

SRI LANKA has significant potential to increase its services exports, earn foreign exchange, provide employment to skilled workers, and explore means and ways to limit brain drain in the process.

In this process the UK and the UAE markets remain significant to service exporters.

This enables the Sri Lankan firms to export professional services and the capacity of the representative associations and the government bodies to assist for a national market.

The identified services covered including accountancy services, legal services, construction related services (engineering, architecture, surveying). IT and software development services and ayurvedic services excluding long term emigration on of our nationals.

Rapid advantages in the information technology and communication have increased digitised and automated trading of services as a result of a wave of globalisation in the service sector.

Several service professional do engage in outsourcing their services to Arabian countries. Exports by all modes of supply were observed, e-mail outsourcing seemed to be the primary method.

The success of these firms shows that work and pro-active marketing strategy. Many firms were taking advantage of these opportunities and a number of issues became apparent that need to be addressed if other firms are to be addressed to follow this lead. Our companies engaged in the export of services do have the following symptoms:

* A general lack of awareness about Sri Lanka's export potential, either due to limited trade information;

* Pro-active approach to exporting services

* Limited willingness to take risks and invest.

* Lack of a clear picture of the firms who are export ready, and non availability of records and statistics on service exports in Sri Lanka.

Since European market has regulatory restrictions the report identified the UAE market from the Asian region potential for export of services. Sri Lanka and UAE have lot of similarities between the areas such as legal, education systems, civil services and administration.

The opportunities are there to promote Sri Lanka's interests in the UAE. Because of the connections with domestic servants employment segment, Sri Lanka has not seen as a potential supplier of professional services to tap the off-shore market in UAE.

Data from the Foreign Employment Bureau revealed a number of Sri Lankan nationals in the UAE as the year ended 2004 was 148,000 of which majority are domestic servants.

No information is available as to how many Sri Lankans employed are in the legal, accounting, architectural and engineering services. Since the Arabian nationals are less involved in tourism, the promotion of Ayurvedic services is unknown.

BANDULA Nonis, Sri Lanka Export Development Board