Sri Lanka & Germany to Ink Major Market Access Pact 📈

The Cabinet of Ministers has approved a strategic cooperation agreement between the Sri Lanka Export Development Board (EDB) and the German Import Promotion Bureau (IPB) to enhance export penetration into Germany and the broader European Union. • Core Objective: Establishing a structured framework for long-term market integration, focusing on export readiness and compliance with rigorous EU environmental and due diligence standards. • Targeted Sectors: • Natural Raw Materials: Boosting high-value products like organic spices and coconut-based products. • ICT/BPM: Scaling the information technology outsourcing industry and digital services. • SMEs & Women-Led Businesses: Dedicated support for inclusive growth through technical guidance and capacity building. • Key Benefits: • Direct technical guidance on sustainability and quality regulations. • Facilitated B2B matchmaking and access to market intelligence. • Enhanced competitiveness for local exporters in high-value European markets. • Strategic Context: The pact aligns with Sri Lanka’s National Export Strategy (NES) for diversification and value addition. It precedes the Foreign Minister’s upcoming visit to Germany to further bilateral trade ties.