EDB mulls revising export targets

The Export Development Board (EDB) said Sri Lanka would be revising down the year-end export targets, amid the modest export performance of the first five months of the year.

“We will have to revise the target since the apparel exports have dropped. But there are other segments that have improved,” EDB Chairman Dr. Kingsley Bernard told Mirror Business.

The EDB currently has a set a target of US $ 18.8 billion for the year, from both merchandise and services exports.

When questioned on the efforts taken to diversify the export basket, Dr. Bernard said several new products have been introduced, such as pharmaceuticals, boatbuilding and organic agriculture products.  

“We have taken certifications for organic products and that will help us push exports. Compared to the regional competition, we are much ahead,” said Dr. Bernard.