To achieve $ 15 b by 2015:

Lanka targets US $ 10 b export turnover in 2011

Shirajiv SIRIMANE

Sri Lanka should try to concentrate their exports to emerging countries like China and India to get better economic benefits said, IMF Resident Representative in Sri Lanka and the Maldives, Dr. Koshy Mathai

Speaking at the National Chamber of Exporters of Sri Lanka 19th Annual Export Awards Ceremony at Colombo Hilton last Friday he said that over 36 percent of the Sri Lanka’s exports are to the USA. “Sri Lanka could get better returns if they concentrate on exports to the emerging economic super powers India and China,” he said.

“In spite of the Middle-East crisis, which engulfs some of our traditional markets, the financial crisis in Europe, our major markets, and the US debt crisis, Sri Lankan exporters have performed extremely well recording a 30% growth in the first few months of this year,” he said.

“Those who are here, those who aspire to be exporters, are a special breed of people, who take risks and survive to enjoy the benefits of their risks,” said NCE President Sarath Silva.

“We are on a threshold of an ‘economic boom’, in a country full of ‘hope’, a country that is ‘free’, ‘liberated’, a country that makes us forget what we have gone through for the past three decades,” he said.

“The economic indicators, lowering of bank interest and the control over the inflation, have made it possible for us to plan our budgets. As exporters, we would definitely like the Dollar parity rates to be favourable to exports,” Silva said.

We are now earning US $ 9 billion as export turnover, and we expect to reach closer to US $ 10 billion by the end of this year, and US $ 15 billion by the year 2015,” he said.

“Our per capita income which is US $ 2053 is expected to be US $ 4,000 by 2016, which will make our industrialists, have a larger domestic market, that can cater to a population with a greater buying power.

“The National Chamber of Exporters of Sri Lanka (NCE), is fully behind the Government, to assist them in achieving their target of US $ 20 billion by 2020.

“We can proudly state that the NCE has during the last year, built a public/private sector bond that will last forever,” he said.

The NCE was originally established as the National Exporters Association (NEA) in late 1986. With the growth in membership, as a result of its role to support exporters in Sri Lanka, the National Chamber of Exporters of Sri Lanka (NCE) was incorporated on July 18, 1984 as the successor to the NEA.

The Chamber which has a membership of over 450 export related member companies covering all products and most services sectors as well as service providers to exporters has continued to serve its members with commitment and dedication. Economic Development Minister Basil Rajapaksa was the chief guest.