Stimulus package, a boon for exporters

Lumbini Edirisinghe

The stimulus package offered to exporters by the Ministry of Finance will help to keep the Sri Lankan economy afloat despite the current global economic crisis, said Senior Deputy President, National Chamber of Commerce Sri Lanka and Chairman of the Export Committee, Asoka Hettigoda.

Asoka Hettigoda

"The criteria of the stimulus package have been simplified to provide the maximum use for exporters. The Government's objective is to provide individual attention for exporters, which is a positive approach for them," he told Daily News Business.

He said the Chambers and exporters are currently discussing ways and means on how to distribute funds in the proposed stimulus package which needs a proper mechanism," he said.

By providing this package for industrialists and exporters they will be able to compete in business. Therefore, this package will also help the economy as well as the exporters, he added.

He also said that under the green label there is a massive global market for new products and Sri Lanka should exploit this opportunity in the export arena.

Although there is a global economic melt down products manufactured under the green label would not have a negative impact. The export industry should build a strong global reputation similar to the Indian system, he said.

"India has a very strong export industry and their products have a high global reputation which allows them to stand on their own feet," he said.

As one of the main industries in Sri Lanka the export industry should look for new products to explore new potential markets. "When this is done exporters could still achieve positive results despite the economic melt down," he said.

The global market is always open for quality, innovation and environmental friendly products, he said.