Sri Lanka exporters look for growth

Nov 07, 2013 (LBO) – Sri Lankan exporters will have to be closer to global supply chains and develop more innovative products, but local rules were also hindering exports, economists and industry officials said. “We are welcome organized policies from groups or forums rather than from individuals. Because for us in the government, it is the sector as a whole that matters,” Samaraweera said.

Other analysts have pointed out that a drive towards autarky was pushing up domestic food costs and therefore labour and capital was also being channelled into tax-arbitraging uncompetitive domestic production businesses where easy money could be made.

“To sustain the export competitiveness, the country has to develop a comparative advantage by improving productivity and innovation,” Saman Kelegama, head of the Institute of Policy Studies, a think tank said.

He was speaking at forum organized by the Exporters Association of Sri Lanka.

Sri Lanka’s private sector research is lagging other middle income countries, Kelegama said.

“If we look at Sri Lanka’s entire exports to the world 99 percent of our products are simple products,” he said.

Hilmy Cader from MTI Consulting said firms should change