NES records 38% performance rate, July ’18 - May ’19 | Sunday Observer

NES records 38% performance rate, July ’18 - May ’19

The Export Development Board (EDB) Advisory Committees on the focus sectors of the National Export Strategy (NES) reported its sector progress, issues and targets for 2019 at the Core Team meeting chaired by the Minister of Development Strategies and International Trade, Malik Samarawickrama, recently.

The National Export Strategy for Sri Lanka 2018-2022 was formulated with financial support from the European Union and technical assistance from ITC Geneva.

The NES targets US$ 28 bn in 2022 from merchandise and service exports. The NES Plan of Action (PoA) was adopted as the next five year plan for export promotion of the various focused sectors.

The NES provides a roadmap to diversify Sri Lanka’s export basket, markets for existing and new products, promotion and facilitation of emerging sectors, and is being progressively implemented.

The NES facilitates mature sectors by improving Trade Support Functions with particular focus on Small and Medium Sectors (SMEs) ensuring employment and better livelihoods for our citizens.

Fifty-six projects contributing to 128 PoAs were implemented from 337 activities identified by the exporters during the consultations of NES, and are to be implemented throughout the five years. NES recorded an implementation performance rate of 38% from July 2018 – May 2019.

Having identified the importance of NES, the National Budget provided fund allocations to develop and promote the IT/BPM, boat building, electrical and electronic components sectors last year.

PoAs have been further identified and selected to extend support by the Government through the National Budget 2019 in order to continue the projects and for identified new projects in the IT/BPM, boat building, electrical and electronic components, spice and concentrates, processed food and beverages, wellness tourism, logistics, trade information and promotion and national quality infrastructure sectors.