Export Development Board celebrates 43 years of export promotion

The Sri Lanka Export Development Board (EDB), which turns 43 years today, is the premier state organisation for the development and promotion of exports in Sri Lanka. 

The board plays myriad roles in the export sector of the economy, as a policy advisor, monitor, promoter, facilitator and knowledge provider in carrying out its responsibilities of implementing strategies for achieving national export targets.

The vision of the EDB, ‘To position Sri Lanka as a prominent export hub for innovative products and services’, is aligned with the development vision of the government as well as the vision of the national export strategy, while the mission of the EDB, ‘Enable export competitiveness through innovation, entrepreneurship and global integration’, is focused on increasing foreign exchange earnings and thereby contributing to the national economy.

In the 1970s, the International Trade Centre (ITC), United Nations Conference on Development of Trade and Tariff pressed the establishment of trade promotion organisations (TPO) in member nations with the objective of promotion and development of the export trade. The establishment of the Export Promotion Secretariat in 1972 in Sri Lanka to support export development did not achieve the desired results. This inspired the business community to open a dialogue within their community on the urgent necessity of establishing a national body for the promotion and development of exports.

The EDB was established under the direction of the late Lalith Athulathmudali, then Trade and Shipping Minister, on August 1, 1979, under Sri Lanka Export Development Act No. 40 of 1979. The first significant step of this act was to empower the EDB with wide powers on export promotion and development for performance of its functions at the highest standard in the best interest of the nation.

The structure set up for the EDB was unique. An Export Development Council of Ministers was formed under the chairmanship of the president. The ministers in charge of trade and shipping, industries, fisheries, finance, foreign affairs, planning and rural industries were the other members of the council.

The objective of the council was to advise the EDB with directives for prompt execution of the decisions taken by the Export Development Council of Ministers. This feature could not be perceived in any of the other government institutions. Hence, it is an attempt to directly showcase the national interest in export promotion.

As a leading government institution in respect of export development, the EDB was entrusted with duties of greater responsibility such as to advise the Council of Ministers on National Export Development Policy, formulate national export development plans, facilitate supply and diversification of products and services, execution of research and market development programmes, help resolve the issues involving the exporters within the government, develop exporting skills, extend advisory assistance to the exporters and improve international relationships with the related agencies.