A team of officials of the Asian Development Bank (ADB) visited the Sri Lanka Export Development Board (EDB) on April, 25 to initiate discussions on the formulation of the National Export Development Plan (NEDP) for 2025–2029.
The meeting was a 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 emphasised 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 digitalisation, expanding into new markets, and enhancing value addition across various sectors.
The meeting also recognised potential challenges in implementation, highlighting the urgent need to form a core team, create an action plan, and create effective monitoring mechanisms. Effective stakeholder engagement, alongside essential policy reforms and ongoing innovation, were recognised as key factors for the plan’s success.
