Sri Lanka’s EDB called on to perform like private sector entity

Oct 23, 2015 (LBO) – Sri Lanka’s Export Development Board has been called upon to perform as a private sector entity to ensure a better performance from the country’s export.

“The EDB should not behave like a laidback government institution,” Sujeewa Senasinghe, state Minister of Development Strategies and International Trade said while addressing officials of EDB during his first official visit Thursday.

“It should adopt the approach of a private sector firm from now on.”

Let us start to be optimistic, he said rather than adopting a bureaucratically pessimistic outlook.

“The new government of President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe is keen to develop our economy through an aggressive investments and exports approach.”

He says that there are no private agendas or private profiting in this effort.

“We want to be really aggressive here.”

Sri Lanka’s exports to Gross Domestic Product ratio has declined while it’s share in world exports too has declined.

So Senasinghe says that it is time that we move faster in exports.

“The main element is to bring new technology to the exports sector since we are slow to adopt.”

Experts have said that  Sri Lanka needs to increase exports value addition greatly and try and learn from countries like Singapore and Malaysia who have had success doing so.

“Our starting point is by setting clear targets for each sub sector of exports. Then find ways to enhance value addition,” he said.

“Let us meet our committed exporters of all scales more frequently from now on – if possible even on a weekly basis to help them clear their issues as fast as possible.”

I think we should meet small- and large-scale exporters together so that interaction between various exporters too is facilitated, he added.