Posted by ONLANKA Newsroom on Might 27, 2026 – 11:23 am
Deputy Minister Chathuranga Abeysinghe
Sri Lanka has doubled its 2025 export promotion finances, decreased a proposed 44% US tariff on Sri Lankan exports to twenty%, and secured continued commerce advantages with the UK and EU, in line with Deputy Minister of Trade and Entrepreneurship Improvement, Chathuranga Abeysinghe.
In a Fb submit revealed right this moment (Might 27), the Deputy Minister outlined a sequence of measures taken by the brand new authorities inside a brief interval to assist and strengthen Sri Lanka’s export sector.
Among the many key actions highlighted was the institution of the Export Improvement Board (EDB) beneath the Ministry of Trade and the filling of almost 70 long-vacant positions on the EDB that had remained unfilled for nearly a decade.
He mentioned the federal government additionally doubled the 2025 export promotion finances from the beforehand allotted Rs. 700 million and reactivated the Export Improvement Ministerial Committee (EDCM) after 25 years, serving to resolve round 25 long-standing {industry} points.
In line with the assertion, speedy authorities intervention helped scale back a proposed 44% US tariff on Sri Lankan exports to twenty%, defending a market that accounts for almost 25% of Sri Lanka’s exports.
The Deputy Minister additional said that the federal government ensured continuity within the export sector in the course of the vitality and oil crises by prioritizing export industries.
A number of industry-related reforms have been additionally introduced, together with the authorization of coconut kernel and coconut milk imports to deal with uncooked materials shortages affecting coconut exports, the finalization of a long-delayed fish re-export mechanism, and the removing of restrictions affecting spice imports for re-export functions.
He additionally famous that Sri Lanka efficiently negotiated continued duty-free export entry to the UK and obtained agency assurances from the European Union relating to the continuation of GSP+ commerce advantages.
The federal government additionally eliminated boundaries affecting Sri Lankan crab exports to the US and intervened by the EDB to scale back commerce boundaries in Indian and Chinese language markets.
As well as, measures have been taken to deal with delays in export certification processes throughout line ministries, whereas Rs. 2 billion was allotted for the Export Single Window system, with implementation nearing completion in a number of sectors.
The Deputy Minister mentioned the federal government additionally labored with the Inland Income Division to keep away from disruptions to exporters following SVAT reforms.
He additional said that the Nationwide Export Improvement Plan was up to date with Asian Improvement Financial institution (ADB) collaboration and obtained Cupboard approval, unlocking USD 200 million in ADB-backed assist.
A joint program between the Ministry of Overseas Affairs and the Ministry of Trade has additionally been launched to assign export targets to Sri Lankan diplomatic missions worldwide.
In line with the assertion, long-term cooperation with the European Union has begun to strengthen Sri Lanka’s natural agricultural export processing worth chain, whereas exporters have been additionally granted tax deductibility for abroad enterprise bills when calculating earnings tax.
The Deputy Minister mentioned month-to-month export advisory committee conferences are actually being held to repeatedly deal with exporter issues.
The federal government has additionally launched a nationwide export {industry} promotion initiative for 2025 geared toward educating new exporters on requirements, packaging, and worldwide market readiness.
Entrepreneurship growth linked to export-oriented worth chains has been recognized as a key Ministry goal for 2025, whereas consciousness and use of the Short-term Import for Export Processing (TIEP) scheme are additionally being expanded to combine home industries into export markets.
He added that clear entry has been opened for SMEs and repair exporters to internationally acknowledged export promotion alternatives.
Cupboard approval and Rs. 300 million in funding have additionally been secured to relaunch Sri Lanka EXPO after 14 years. Though initially deliberate for June, the occasion has been rescheduled to subsequent January resulting from international financial circumstances.
The Deputy Minister mentioned future priorities embody attracting export-led investments, increasing infrastructure and monetary assist, establishing export certification laboratories, strengthening export provide chains, negotiating new worldwide commerce agreements, and introducing focused export-driven incentives.
“Sri Lanka’s export financial system can’t be reworked in a single day. However step-by-step, structural reforms are actually being applied with a transparent long-term course,” he said.
