Export earnings exceed US $ one b

Country should start producing indirect exporters and producers :

Charumini de Silva

The export industry in the country is expecting an earning of US $ 24 billion per annum with an expectation of US $ two billion monthly export earnings by the end of 2012.

National Chamber of Exporters (NCE) Chairman Sarath de Silva said the country’s export industry has now started to harness the benefits with export earnings exceeding the milestone of US $ one billion. The performance of the industry is improving significantly.

“Sri Lanka should start producing indirect exporters and producers to increase export volumes to meet export goals. Africa is the future focus of the world and it is timely that Sri Lanka should also be prepared to cater to this potential market. NCE is planning on several road shows in Africa to explore niche areas that we could tap on,” he said.

“There is also possibilities to uplift the export industry in the South Asian Association Regional Cooperation (SAARC) region as we have free trade agreements (FTA) with the regional countries, in which we have the advantage of FTAs. However, Sri Lanka has not taken the favourable advantages of the FTAs. Therefore, Sri Lanka should adopt an aggressive marketing strategy in placing export products in the SAARC region,” de Silva said.

During the visit of Pakistan President Asif Ali Zardari last year, he called for barter trade with Sri Lanka rather than depending on dollar denominated trade and currently we are looking at possibilities on it in the SAARC region and the Gulf region.

Despite the volatile situation in Middle East countries; our exports should be made on both commodity and cash, while remaining in the region.

The country could also explore new markets like breakaway Russian republics. Agriculture production, value addition to mineral, tea, rubber and coconut products as the yield of agricultural products are much higher.

The government’s fertilizer subsidy has helped the agricultural industry which indirectly has supported the export industry as well. In achieving a common goal it is important to have more public private partnerships (PPP). The private sector and the public sector will meet at a common ground making the export industry more vibrant with NCE and the Export Development Board (EDB) entering into a permanent collaboration.

The Chamber and the EDB is planning to set up a joint expo promotion centre within Colombo. This export centre is a proposal by the NCE which was accepted by the EDB.

The proposal is yet to get approval and is expecting to complete the centre by end of this year as NCE celebrates its silver jubilee.