Sri Lanka Advances Vision for Resilient Export Economy
A team of officials from the Asian Development Bank (ADB) visited the Sri Lanka Export Development Board (EDB) on 25th April, 2025 to initiate discussions on the formulation of the National Export Development Plan (NEDP) for 2025–2029, a key initiative announced in the 2025 Budget under the “A Thriving Nation – A Beautiful Life” policy framework.
The meeting was a significant step towards developing a comprehensive plan to enhance Sri Lanka’s export growth over the next five years, as part of the ADB’s policy-based loan (PBL) program under the Ministry of Industry and Entrepreneurship Development. Building on the foundation established by the previous National Export Strategy (NES) for 2018–2022, the NEDP aims to adopt a more targeted and data- driven approach to export development. It will focus on refining and expanding upon previous successes by embracing technological innovations, strengthening regulatory frameworks, and embedding sustainability into export activities.
Key topics discussed during the meeting included the strategies for formulating the NEDP, the critical need for export diversification, and the importance of aligning all stakeholders around a common vision. The officials emphasized the necessity of defining clear roles for the EDB and set ambitious targets, including a goal of achieving USD 36 billion in export revenue by 2030. Strategies to achieve this goal include leveraging digitalization, expanding into new markets, and enhancing value addition across various sectors.
The meeting also recognized potential challenges in implementation, highlighting the urgent need to form a core team, establish an action plan, and create effective monitoring mechanisms. Effective stakeholder engagement, alongside essential policy reforms and ongoing innovation, were recognized as key factors for the plan’s success.
Both the ADB and EDB stated their commitment to collaborating closely in developing a dynamic and inclusive export strategy that will foster sustainable economic growth for Sri Lanka over the next five years.
