📈 Govt. Launches National Export Plan to Boost Growth & FDI: EDB

The Government of Sri Lanka is positioning exports at the core of its economic strategy, backing the newly approved National Export Development Plan with promised policy consistency, expanded trade deals, and exporter incentives, according to EDB Chairman Mangala Wijesinghe. • Key Plan Framework & Targets - Alignment: Aligns 32 State institutions across 130 action plans over an 8-month design process. - Growth Projection: Overall exports projected to grow 6–7% this year (historically steady at 5–6%). - Trade Agreements: Exploring entry into the Regional Comprehensive Economic Partnership (RCEP) alongside expanded bilateral trade deals. - Market Diversification: Maintaining core markets in the US and EU (~50% share) while penetrating Asia, the Middle East, and Africa. - Upcoming Event: Sri Lanka Expo 2027 (Jan 14–17, 2027) targeting 1,500+ foreign buyers (900+ registered). • Sector & Industry Performance - Apparel & Textiles: Accounts for 30–32% of total exports, built on ethical manufacturing standards. - Electrical & Electronics: Expanding rapidly at 20–30% annually; surged by over +30% in the first 8 months of this year. - ICT/BPM: Employs over 150,000 professionals, maintaining steady annual growth of 10–15%. - Agriculture & Heritage: Premium demand for Ceylon tea, Ceylon cinnamon, coconut, spices, and organic products. • Investment & FDI Strategy - Shift toward high-value, tech-driven, branded products and knowledge services over bulk commodities. - Prioritizing foreign investment in auto components, minerals (graphite/mineral sands), rubber, marine services, pharmaceuticals, and food processing.