COLOMBO, Sri Lanka, Aug 13 (ePRESS) – Sri Lanka’s export drive gained fresh momentum in the first half of 2025, with the Export Development Board (EDB) reporting total exports of USD 8.35 billion – a 6.88% year-on-year rise – as the country pushes towards its ambitious USD 36 billion annual target by 2030.
The progress was revealed when President Anura Kumara Dissanayake chaired the Second Export Development Council of Ministers Meeting at the Presidential Secretariat, reviewing 10 key initiatives from the inaugural session in January and approving new measures to sharpen competitiveness.
A major highlight was the full rollout of enhanced export services data collection – covering education, marine and offshore sectors – via the Central Bank’s International Transaction Reporting System (ITRS), seen as critical for better policy planning.
Major reforms to boost competitiveness
The President approved sweeping initiatives, including expanding Freeport services to 60 operators within three years, expected to generate USD 40 million annually; developing Trincomalee Harbour into a marine business hub with advanced ship repair capacity; and scrapping the USD 200 Off Port Limits levy at Galle and Hambantota.
Agricultural exporters will benefit from duty set-off schemes for poultry raw materials, BOI approval to import select spices for value addition and re-export, enhanced gem and jewellery export promotion, and financial support for tea smallholder replanting.
Push for global market access
Dissanayake ordered fast-tracking preliminary talks on Free Trade Agreements with China, the United States, the EU, and Middle Eastern nations, targeting sectors where Sri Lanka holds a competitive edge.
In the pharmaceutical sector, the government will lift the three-brand name limit and expedite the removal of the 18% VAT on packaging materials.
‘Backbone of economic recovery’
“The export sector remains the backbone of our economic recovery,” the President said. “We are committed to removing bottlenecks, modernising infrastructure and diversifying markets so our exporters can compete globally and help us meet our targets.”
