Sri Lanka is searching for the most favourable trade policy directions, targeting an open and competitive economy that will lead to the diversification of products and markets, introduction of the innovation, creation of the employment and increase of the revenues. The road towards socio-economic stability will be paved with improvement of local competitiveness, increase of investment and more important participation in the international trade. International Economics’ CEO provided technical advice to ITC in the design of the NES for Sri Lanka.
National Export Strategy of Sri Lanka
The Project at A Glance
What We Found
Through the structural and trade policies reforms that Sri Lanka government undertakes, the state aims to achieve growth by finding its place in the global economy and offering competitive products and services in the international markets. In 2014, the Government of Sri Lanka requested ITC’s assistance in the elaboration of the country second National Export Strategy (NES).
The overall objective of the project was to contribute to Sri Lanka’s inclusive trade-led growth and regional integration through the increased trade competitiveness of Sri Lankan SMEs. Our CEO provided support to the ITC Team in the NES design and management. The team provided a combination of advisory and capacity-building inputs, and specialized expertise to ensure the final NES is of the highest quality and validated by the relevant authorities in Sri Lanka
Our Strategy and Impact
The ultimate goal of the Sri Lanka’s government is to build a knowledge-based social market economy that is backed by local competitiveness, disciplined economic strength and international trade and investment. We provided support in a series of export and sector-related diagnostics, contributions to the elaboration and presentation of technical presentations during the consultations, and to the elaboration of a consolidated Strategic Trade Development Roadmap.
A final result, a new NES was designed to provide a prioritized five-year action-oriented framework for trade development and competitiveness. The new NES focuses on a number of priority sectors, selected based on a quantitative and qualitative analysis of Sri Lanka’s export competitiveness, to ensure a prioritized focus
Our Core Solutions
As businesses seek to expand operations into new markets, the need to explore global supply chains and understand the international regulatory framework becomes crucial. At International Economics Consulting, we build tailor-made strategies for both import and export-oriented business solutions.