Economy moving in positive direction

EDB launches strategic plan:

Gayan KANCHANA

The economy of the country is now moving in a positive direction. The export sector has registered a growth rate of 10.5 percent during the period of January to September this year when compareed with the performance of the corresponding period in 2009.

Janaka Ratnayake

Industry and Commerce Minister Rishad Bathiudeen said at a time, when the Government has announced a new budget, signifying the dawn of a new era, it is extremely appreciative of the efforts taken by the EDB, to formulate and launch their new strategic plan for the next five years. He was speaking at the launching of the new strategic plan of the EDB (for year 2011-2015) and the appointment of advisory committee members for each identified sectors, held in Colombo on Monday.

"This strategic plan which was prepared in consultation with the relevant stakeholders will provide necessary framework to achieve much needed cohesion not only among EDB officials, but also among all other interested parties.

"At present, the export sector contributes 17 percent to the GDP of the country. A productive and efficient methodology should be adopted to develop the export sector and achieve economic and social development.

"The global market has created a wide range of opportunities for our exports. However, at the same time, a country like ours has to face intense competition. We have to adopt a strategic and proactive approach if we are to effectively face these challenges and exploit the emerging trade opportunities. In this context, it's important that the EDB as the premier State organization entrusted with the development and promotion of exports work on a well defined plan of action based on the strategic plan," he said.

"Our Government considers that the private public sector co-operation is important not only for the preparation of a successful export strategic plan but also in implementing such a plan. Within this framework, with the stablishment of advisory committees after a lapse of two years we expect to guide the export development activities on the correct path," the Minister said.

EDB Chairman Janaka Ratnayake said, "According to the formulated Strategic Plan for the next five year period 2011-2015, the vision of the EDB is to be the most sought after destination of global sourcing in identified product sectors".

We have prioritized seven key product sectors to concentrate our energies and resources during the plan period. To achieve the expected targets of these sectors we have planned to implement an aggressive market promotion campaign coupled with an effective communication strategy in key and emerging markets.

An integrated supply product quality development program will also be launched to enhance the supply chain efficiency of the product sectors. An effective trade facilitation program will also be carried out to reduce transaction cost and thereby enhance the competitiveness of our products and services," he said.

Industry and Commerce Deputy Minister Jayarathne Herath also participated at the event.