Exporters gear to meet US $ 20 b target

Ramani KANGARAARACHCHI

Exporters hope to develop their businesses without the Government’s financial intervention in the future, Exporters Association Sri Lanka, (EASL)new President Dawn Austin said.

Speaking at the 14th Annual General Meeting of the Association held on Wednesday, she said the incentives and subsidies will be a thing in the past.

The EASL looks forward to engaging with the Government and private sector in extending its capacity to support towards the country to a greener and sustainable future way beyond 2020. However, she requested the implementation of Export Development Reward Scheme for the third and fourth quarters without delay in accordance with laid down criteria as it has caused disappointment among its members.. Austin said despite the loss of GSP+ exports, the export figures for the first and second quarters of this year reflected good recovery.

Some specific companies have achieved this growth despite the constraints and difficulties across the board which could be an interesting case study. .

She appreciated the new simplified VAT system where funds will not be blocked with VAT refund issues anymore.

Exporters need to review cost of production in the light of increasing labour rates, cost of transport by looking at increasing productivity, perhaps introducing simple mechanization, she said.

Austin said the ongoing thrust of the EASL in the year ahead will be to continue its endeavours to capitalize on achievements thus far and press on to create an environment where exporters will find it worthwhile and conducive towards keeping their businesses moving in an ‘equal playing field’ environ with its global competitors. Finally she said the target of US$ 20 billion by 2020 is achievable but the year ahead is definitely going to be a challenging one.