By: Staff Writer
May 04, Colombo (LNW): Sri Lanka is setting the stage for a major export overhaul as a high-level delegation from the Asian Development Bank (ADB) met with the Export Development Board (EDB) to initiate the formulation of the National Export Development Plan (NEDP) for 2025-2029.
This significant development, launched on 25 April, marks the beginning of an ambitious strategy to revitalize the nation’s export sector and unlock new global opportunities.
The initiative is rooted in the 2025 Budget under the “A Thriving Nation – A Beautiful Life” policy framework, aiming to make exports a cornerstone of Sri Lanka’s economic progress.
A central objective set during the discussions is to boost export revenues to $36 billion by 2030. The NEDP is being crafted as part of a policy-based loan (PBL) program in collaboration with the ADB and the Ministry of Industry and Entrepreneurship Development, with the goal of reshaping Sri Lanka’s place in global trade.
Building upon the foundation of the previous National Export Strategy (NES) 2018-2022, the new plan introduces a more targeted, data-driven approach. It emphasizes technological integration, sustainable trade practices, and regulatory reforms to foster a more resilient and competitive export environment.
Key themes that emerged during the initial meeting include the critical need for export diversification to lessen reliance on traditional sectors, tapping into new global markets, and increasing value-added production across industries.
The ADB and EDB stressed the necessity of aligning all stakeholders — including government agencies, the private sector, and development partners — around a unified export vision.
The NEDP will focus heavily on digital transformation within trade processes, enhancing product and market competitiveness, and facilitating access to international value chains, particularly for small and medium-sized enterprises (SMEs).
ADB representatives highlighted the need for clearly defined leadership from the EDB in overseeing and coordinating the plan’s implementation.
To ensure effective execution, the plan will include the formation of a core implementation team, a structured action plan with measurable milestones, and strong monitoring and evaluation frameworks.
Potential challenges, such as the need for capacity-building, inter-agency coordination, and coherent policies, were acknowledged. Participants agreed that early engagement with stakeholders and continuous communication would be key to fostering trust and ensuring sustained progress.
The EDB reiterated its commitment to the NEDP, recognizing it as a vital component of Sri Lanka’s wider economic reform agenda.
By fostering inclusive growth, enhancing resilience, and promoting sustainable development, the NEDP 2025-2029 is expected to serve as a transformative roadmap for elevating Sri Lanka’s global trade presence over the next five years.
