Sri Lanka’s export economy is entering a period of adjustment. For decades, tea and apparel have done the heavy lifting. But with changing markets, new trade regulations, and a wider push for economic recovery, the country is now being asked to think differently about how it earns foreign income.

The Export Development Board plays a central role in this. Led by Mangala Wijesinghe, the EDB is working across agencies and sectors to expand the reach of Sri Lankan products and services. That includes tackling long-standing issues around market access, improving support for small exporters, and finding ways to bring younger business owners into global trade.

In this interview, EDB Chairman Mangala Wijesinghe explains the Board’s current focus, the importance of financial and institutional partnerships, such as those with Bank of Ceylon, and what it will take to create lasting opportunities for Sri Lankan exporters in a changing world.

How would you describe the EDB’s current role in driving Sri Lanka’s export competitiveness and economic diversification? Could you share some key focus areas the Board is prioritising this year?

The EDB plays a pivotal role in driving the country’s export growth via its mandate as the policy adviser, monitor, promoter, facilitator, and knowledge provider in developing and promoting Sri Lanka’s exports. The goal of the EDB is to provide assistance and create opportunities for Sri Lankan exporters and industries to expand their business internationally, thereby increasing export sales and employment prospects in the region.

Being the premier export promotion agency in the country, we assist export-ready entrepreneurs to enter the international marketplace by providing guidance and advice to fulfil key market entry requirements, such as obtaining the vital internationally recognised quality standard certifications as well as ensuring compliance with the necessary legal requirements.

SME Development is another one of our key focus areas. In collaboration with the International Finance Corporation (IFC) and the European Union (EU), the Board initiated the Sri Lanka Export Excellence Initiative (SLEEI) in 2025, which supports Sri Lankan SMEs from across the country to establish a sustainable export presence in international markets. The programme focuses on key export sectors, such as processed food and beverages, coconut-based products, spices and concentrates, herbal cosmetics, ICT/BPO services, handicrafts and lifestyle products.

The Bank of Ceylon (BOC) and The EDB recently entered into a partnership aimed at supporting exporters. How does this collaboration enhance the support available to Sri Lankan exporters, particularly SMEs and first-time exporters?

In 2023, the Bank of Ceylon signed a MoU with the EDB, marking a strategic partnership to foster export-related indigenous SMEs. The strategic partnership is focused on empowering SMEs through a series of programmes to upscale their financial literacy and business intelligence, enabling them to meet the demands of international trade markets and, eventually, to elevate the country’s export sector. The BOC’s extensive geographical and digital reach to approach the SMEs nationwide is highly beneficial to achieve the intended objectives of the programme.

The BOC Youth Entrepreneurship Loan Programme has received attention for encouraging young individuals to step into business. From the EDB’s perspective, how do you view the programme’s potential in nurturing the next generation of exporters?

The BOC in a highly praiseworthy move had initiated the Youth Loan Scheme to fuel the dreams of young innovators and business leaders. Lack of access to finance is one of the biggest obstacles faced by the budding entrepreneurs in the country and the loan scheme of the BOC addresses this fundamental problem.

As loans are provided to individuals who are under the age of 30, it serves as a catalyst in propelling the spirit of entrepreneurship among the youth. It also helps to nurture the next generation of exporters in the country by providing the required seed capital to establish export-oriented businesses. The current generation of exporters in the country is aging and we need to develop a new generation of exporters to drive the growth of exports in Sri Lanka.

A younger brigade of exporters would be better positioned to lead the much required transformation in the island’s export landscape with a considerable focus on sectors driven by innovation and technology. Today’s youth are quite smart and they are highly adept at embracing new technologies unlike the older generations. I hope the BOC could increase the size of financial assistance through the loan scheme which would greatly contribute towards giving birth to a new generation of youthful exporters, which is a pressing national economic priority.

The BOC Export Circle aims to support and empower existing and aspiring exporters through targeted banking and advisory services. In what ways do you think initiatives like these complement the EDB’s broader national export development strategy?

I have been informed that BOC Export Circle serves as a fully-fledged unit which offers export facilities with end-to-end financial and non-financial services for start-ups and SME export businesses throughout the supply chain. Pre-shipment and post-shipment finance solutions satisfy the critical working capital needs of exporters. Further non-advisory services like providing due diligence on overseas buyers via credit reports obtained from international credit rating agencies offer valuable assistance towards exporters in terms of managing credit risks.

The EDB is mainly focused on developing markets for Sri Lankan exporters as well as capacity development. Catering to the financial needs of exporters is the responsibility of the commercial banks in the country. The availability of both long-term and short-term financial facilities allow exporters to take their businesses to greater heights, which is what the EDB’s broader national export development strategy envisages. Actually, the development of exports should not be confined to the EDB alone, rather it is a nationwide obligation. We need a strong ecosystem to develop and promote Sri Lanka’s exports and, as the EDB Chairman, I am quite happy to observe that the BOC has emerged as a premier provider of financial solutions to the nation’s exporter community.

Looking at 2025, what are the EDB’s export growth targets or milestones, and how aligned are they with Sri Lanka’s overall economic recovery and national development goals?

Our target in terms of the total export income for 2025 is $ 18.2 billion (Goods – $ 14.1 billion and Services $ 4.1 billion). We see strong potential for growth in gem and jewellery, fisheries, and construction. The Board is working with other agencies to clear regulatory barriers that hinder the progress of those sectors. As our economy is currently experiencing a strong recovery, the growth in both merchandise and service exports would tremendously help to maintain economic stability, particularly in the external sector. Our 2025 export target is aligned with the government’s ambition of earning a total export income of $ 36.5 billion in 2030.

As a national body, the EDB has long played a role in building capacity and market access for exporters. Could you elaborate on the recent initiatives introduced by the Board to support exporters in adapting to the changing dynamics in global trade?

The current international trade regime evolves at a rapid pace, hence, it is imperative that exporters remain abreast of the ever changing international business environment characterised by frequent disruptions in terms of technological innovations and changes in laws and regulations.

In this day and age, digital technology plays a highly critical role in the way we live. The EDB is currently undertaking a series of awareness sessions to educate export-oriented businesses social media marketing, content creation, e-commerce and AI-driven digital marketing tools. We also continuously brief exporters in respect of changes in market-entry requirements of key export destinations of Sri Lanka such as the EU, the UK, and the US through seminars, webinars and training programmes.

These initiatives are often carried out in collaboration with institutions, such as Bank of Ceylon, which play a key role in providing exporters with financial literacy, trade financing options, and access to export credit facilities.

Finally, what message would you like to share with Sri Lankan youth, particularly those who are looking to pursue careers in entrepreneurship or consider entering export markets?

The modern day youth are smart thinkers and they are quite capable of identifying market opportunities. Unlike, in the past, universities and higher educational institutes offer numerous courses and study programmes that sharpen the skills of entrepreneurship. I view those developments positively.

My message to the youth, who wish to become entrepreneurs, is whether they do business locally or internationally, the key to successful entrepreneurship is the ability to understand the requirements of the market correctly. Becoming market-oriented and adapting to the requirements of the market are essential in terms of succeeding in entrepreneurship.We also encourage young entrepreneurs to leverage the services of institutions, like Bank of Ceylon, which offers financial tools, advisory services, and export financing that are critical for scaling up businesses and entering global markets.

In conversation with Mangala Wijesinghe, EDB Chairman