August 14, 2020
1 min read

Sri Lanka aims to boost exports

Mahinda Rajapaksa and Gotabaya Rajapaksa (Photo by Ajith Perera/Xinhua/IANS)

After coming to power with a landslide election victory, the new Sri Lankan government under the leadership of the Rajapaksa brothers is aiming to boost the country’s exports this year. At least four state ministers have been appointed to develop key local products such as gems, batiks, coconut, rubber, and tea, media reports said on Friday.

Export Development Board (EDB) Chairman Prabhash Subasinghe was quoted in the local Daily FT as saying that sector-specific state ministers/ministries had amplified the importance of the export sector and that they look forward to working with all line ministries to boost merchandised exports, reports Xinhua news agency.

“Exports have been recognized as a deserving sector to appoint sector-specific ministries in reviving the economy post-COVID-19.

“A lot of emphases has been given to agricultural exports and farming, which has been a weak area in our export basket for decades,” Prabhash said.

Amidst the pandemic, Sri Lanka’s merchandise exports last month crossed the one billion dollar mark.

Soon after the health criris hit Sri Lanka in March, exports in April fell to $277.4 million

But a continuous pick-up in exports was seen thereafter, with $587 million in May and $906 million in June.

The EDB is optimistic and anticipates that the steady growth trend would continue in the last quarter of this year.

It’s confident that the food and agriculture exports would help Sri Lanka achieve the $10.5 billion target set for this year.

Also Read: Rajapaksa returns as the 4th time PM of Sri Lanka

Previous Story

Celebrities Pen Motivational Notes To Baba

Next Story

SC Holds Prashant Bhushan Guilty Of Contempt

Latest from Business

‘India’s Digital Hub Ascends’

The event also featured discussions on the Quad Partnership for Cable Connectivity and Resilience, reiterating commitments made during the July 1 Quad Foreign Ministers’ Meeting India’s growing role as a key digital

India’s Job Market Surges

With hiring levels on the rise, compensation is expected to increase by 12-15% in metro cities and by 18-22% in emerging cities India’s festive season this year is poised to create more

India Inc Eyes Upswing

Private equity (PE) remained comparatively stable in Q2, clocking 357 deals worth $7.4 billion — the second-highest volume since Q4 2022. However, deal values dipped on a quarter-on-quarter basis due to the

Apple Appoints Sabih Khan as New COO

Khan will take over from Jeff Williams, who is stepping down from the role this month and will retire later this year…reports Asian Lite News Apple has announced that Sabih Khan, an
Go toTop