EDB set to exploit new markets

Harshini Perera

Sri Lankan exports have not yet exploited the North American and Asian market segments. The Export Development Board expects to concentrate fully on the emerging and ever expanding Asian and Australian markets where two third of the world’s population resides, Export Development Board (EDB) Chairman and CEO Janaka Ratnayake told Daily News Business at the EDB.

Speaking after assuming duties, he said, “The EDB has been extending immense support to Small and Medium scale exporters to market their products internationally.

The SME sector will be provided with technical support, information on new markets and opportunities in the world market,” he said.

He said Sri Lanka is recognized for its traditional products in the export market. While increasing the traditional products, Sri Lanka should also look into non-traditional products and services. “The markets in the world today are changing so fast that Sri Lanka should cater to them with new products and services,” Ratnayake said.

Sri Lanka is in a different platform today and it has potential for development. The private sector as well as the public sector is currently in the process of taking the country towards development.

The support of professionals in the EDB and authorities hope to increase the country’s exports to US $ 20 billion going in line with Government plans.

At present country’s exports fluctuate between US $ 7 to 8 billion.

He said the country will make better revenue by focusing on non-traditional and services sector exports with a different dimension.