On the 01st of August, 2024, the Sri Lanka Export Development Board (EDB) commemorated a remarkable 45 years of dedicated service, marking a significant milestone in its mission to elevate Sri Lanka’s export sector. Founded in 1979, the EDB has been at the forefront of transforming the island nation’s economy from one primarily dependent on plantation crops to a diverse and robust exporter of various products and services.
In the pre-liberalization era, Sri Lanka’s export income was heavily reliant on traditional plantation crops. However, the economic liberalization of 1977 set the stage for a dramatic shift. Embracing these changes, the EDB was established to create a strong institutional framework that would support Sri Lanka’s integration into the global economy. Since its inception, the EDB has played a pivotal role in expanding the country’s export portfolio, which now includes apparel, high-quality spices, gems and jewelry, coir products, footwear and leather, rubber-based products, and more. Additionally, Sri Lanka has become a notable player in the fields of software development, IT services, and Business Process Outsourcing (BPO) due to its skilled workforce. From a modest export income of $845.1 million in 1978, Sri Lanka’s merchandise export income surged to $11,911 million by 2023, reflecting the transformative impact of the EDB’s efforts.
Over the past four decades, the EDB has continually evolved to meet the demands of a rapidly changing global landscape. Recognizing the importance of adapting to globalization and technological advancements, the EDB has expanded its focus to include burgeoning sectors such as ICT/BPM, electronics, wellness tourism, construction, education services, and marine and offshore services. The development of the National Export Strategy (NES 2018-2022) was a significant step in fostering new export industries beyond traditional sectors. This strategic plan identified key areas such as boat building, spices and concentrates, food and beverages, ICT/BPM, and wellness tourism, guiding Sri Lanka’s export diversification.
To extend its reach across the country, the EDB established the Regional Development division and opened four regional offices in the Southern, Northern, North-Western, and Central provinces. This expansion was complemented by a focus on women entrepreneurship and small and medium-sized enterprises (SMEs), aligning with Sri Lanka’s socio-economic priorities.
The EDB has also been instrumental in promoting organic agriculture in Sri Lanka. With the global demand for organic food growing, the EDB established the National Organic Control Unit (NOCU) in 2014 to standardize organic farming practices. The introduction of the National Organic Certification Mark (NOCM) last year has provided a benchmark for quality and standardization, enhancing consumer trust and verifying compliance with the National Organic Standard (NOS) SLS 1324:2018. The EDB supports organic farmers and processors through certification programs and annually organizes Sri Lanka’s participation in BIOFACH, the world’s largest annual organic trade show held in Germany.
One of the EDB’s crowning achievements came on February 2, 2022, when Sri Lanka received its first-ever Geographical Indication (GI) certification for Ceylon Cinnamon from the European Union. This landmark accomplishment, the result of a decade-long effort by the EDB and its stakeholders, differentiates Ceylon Cinnamon in the European market, offering a competitive edge and allowing for premium pricing.
The EDB’s commitment to excellence was further recognized internationally when it was named Runner-up at the World Trade Promotion Awards 2022. This accolade, awarded in the category of Best Initiative for Inclusive and Sustainable Trade, highlighted the EDB’s SME Export Coaching program, which supported small firms in navigating international trade during challenging times.
As Sri Lanka emerges from its most severe economic crisis in post-independence history, the EDB remains a beacon of hope. With the government’s strategic policy adjustments and ongoing debt restructuring, exports are expected to play a crucial role in the country’s socio-economic recovery and development.
Looking ahead, the EDB is poised to continue its vital role as Sri Lanka’s apex export promotion agency. With a vision for the nation’s development by 2048, the EDB is committed to fostering growth, innovation, and resilience in Sri Lanka’s export sector, ensuring a prosperous future for the country.
