By: Staff Writer
June 22, Colombo (LNW): The Sri Lanka Export Development Board (EDB), in partnership with the Asian Development Bank (ADB), is intensifying efforts to finalize the National Export Development Plan (NEDP) for the period 2025–2029, aimed at revitalizing the country’s export sector and steering it towards sustainable, inclusive growth.
The initiative comes at a time when Sri Lanka is seeking to enhance foreign exchange earnings, attract investment, and rebuild its economy following years of economic and political challenges.
The second round of discussions on the NEDP took place on 2 June 2025 at the EDB headquarters in Colombo, following the inaugural session held in April. The new plan is being developed through a diagnostic-based, data-driven approach and builds on the experience and lessons learned from the National Export Strategy (NES) 2018–2022, a comprehensive policy framework introduced by a previous government.
The NES 2018–2022, which identified priority sectors including ICT/BPM, wellness tourism, processed food, and apparel, laid the foundation for export diversification and competitiveness. However, the disruptions caused by the COVID-19 pandemic, the 2022 economic crisis, and global market volatility prevented the full implementation of the strategy, underscoring the urgent need for a renewed, adaptive, and forward-looking framework.
EDB Chairman and CEO Mangala Wijesinghe expressed appreciation for the continued support from the ADB and emphasized Sri Lanka’s ambitious target of reaching US$36 billion in export earnings by 2030. “This plan will allow us to focus on emerging markets, build resilience in our export systems, and integrate effectively into global value chains,” he said.
According to the EDB, Sri Lanka earned approximately US$14.9 billion from merchandise and services exports in 2023, with the apparel sector remaining the largest contributor. However, challenges such as overdependence on a few markets, limited product diversification, global economic uncertainty, and rising competition from regional peers have highlighted the vulnerabilities in the country’s export structure.
The NEDP 2025–2029, supported under the ADB’s Policy-Based Lending (PBL) program and implemented through the Ministry of Industry and Entrepreneurship Development, is expected to address these issues head-on. The plan’s methodology includes stakeholder consultations, trade diagnostics, market research, value chain integration, and alignment with the government’s development vision: “A Thriving Nation – A Beautiful Life.”
ADB officials stressed the importance of private sector involvement, policy coordination, and measurable implementation frameworks. The plan also aims to promote export participation by SMEs, encourage sustainable production, and foster gender inclusivity.
As global trade dynamics evolve, Sri Lanka’s renewed export strategy will be critical in enhancing its economic resilience, securing foreign exchange, and generating employment. The EDB plans further consultations with industry stakeholders to ensure the NEDP becomes a cohesive, actionable, and transformative blueprint for the next five years.
