EDB to establish new markets in Asian region

Ramani Kangaraarachchi

The Export Development Board (EDB) will establish new markets in the Asian region in the future while retaining the matured EU markets, EDB Chairman Janaka Ratnayake said at the EDB Auditorium on Friday.

He was speaking to the media on forthcoming Presidential Export Awards 2007-2009 which will be held on 28 June (tomorrow) at the Temple Trees under the patronage of President Mahinda Rajapaksa.

A total 57 awards and 40 merit certificates will be awarded at this ceremony.

Ratnayake said that it is the private sector doing all the exporting and earning foreign exchange to the country therefore recognition of their outstanding performance in the export trade is significant.

It is also an incentive for the exporters to explore their skills in achieving similar accomplishments in the export business, he said.

The export growth during the last four months of the year has reached 45 percent. The apparel sector had a growth of 60 percent during the last month while the industrial sector also has done well.

Sri Lankan tea, rubber and coconut products have received attractive prices as the importing countries are recovering from the recession. Exports to India has increased by 40 percent. If the current trend continues the country can overreach expected export targets, he said. Meanwhile the services of an expert gem and jewellery designer has been obtained to upgrade Sri Lankan products.