Country to move towards innovation-driven, high-value-added exports

The establishment of the Viet Nam-Sri Lanka Business Council will enhance bilateral relations, fostering partnerships beyond trade driven by shared ambitions, Export Development Board Chairman Mangala Wijesinghe told the Viet Nam Sri Lanka Business forum held in Colombo on Friday (8).

Sri Lanka stands ready to work hand-in-hand with Viet Nam to build a partnership that goes beyond trade, one rooted in trust driven by innovations and sustained by shared ambitions. Vietnamese partners are invited to Sri Lanka Expo 2027 from January 14-17, promoting trade and showcasing export capabilities, he said.

Wijesinghe said Vietnam’s total export value was US$ 474 billion in 2025 with 17% growth and its strong integration into global value chains, dynamic industrial growth and forward-looking policies have positioned it as one of Asia’s leading economies.. He said at the Sri Lanka Export Development Board, which is a premier organisation promoting and developing the export sector in Sri Lanka, they were committed to positioning Sri Lanka as a competitive and reliable partner in international trade. Sri Lanka’s strategic location, skilled workforce, resilient export sector, and focus on innovation make it a competitive trade partner with favorable market access.

In 2025, Sri Lanka’s exports reached $17.3 billion, focusing on innovation and ethical sourcing and is increasingly focused on moving beyond traditional export towards innovation-driven, high-value-added products and services by restructuring its integration into the global value chain. Today, the country’s export industries are closely aligned with emerging global trends in substantially ethical sourcing and digital transformation and supply chain reliability, positioning Sri Lanka as a trusted, resilient and competitive trade partner in international markets. Sri Lanka offers highly favourable market access to global markets through a combination of preferential trade scheme and pre-trade agreements, positioning the country as a competitive destination for exports and investment, he said.

Wijesinghe said Sri Lanka exports benefit from EU GST facility which provides a dual-degree access to European Union for a wide range of products as well as UK-developed countries’ trading schemes which grant preferential access to United Kingdom markets. In addition, Sri Lanka has operationally treated agreements with India, Pakistan and Singapore. While the recently concluded agreement with Thailand further strengthened regional integration and connectivity with Asian markets as well.

Sri Lanka is guided by the National Export Development Plan for 2026 and 2030 which focuses on export diversification, value addition, innovation-driven growth and strengthening Sri Lanka’s integration into global value chains. Through these strategic priorities, the EDB was working towards an ambitious target of expanding Sri Lanka exports to 36 billion by 2030.

Sri Lanka and Vietnam’s economies synergize through manufacturing, services, and diverse sectors fostering collaboration and partnership, he added.

Source: Daily News