The Government has appointed six private sector members to the Board of Directors of the Sri Lanka Export Development Board, headed by top exporter Prabhash Subasinghe.
The new private sector Board members appointed by Industrial Export and Investment Promotion, Tourism and Aviation Minister Prasanna Ranatunga are Dr. Janaka Wickremasinghe, Kaushala Yahampath, Chatura V. Cabraal, Lalantha Watudura, Ranjith Priyantha Weerasinghe and Prof. K. Lakshman Jayaratne.
According to the EDB Act, a Chairman and six other members shall be appointed by the Minister from among those who appear to possess experience and demonstrate capacity in industry, trade, finance or any other field connected to export development.
The rest of the EDB Board comprises 12 ex officio nominees from the Ministry of Finance, Ministry of Trade, Ministry of Shipping, Ministry of Industry and Commerce, Ministry of Agriculture, Ministry of Plantation Industries, Ministry of Foreign Affairs, Ministry of Rural Industries and the Board of Investment.
Last week, EDB Chairman Subasinghe announced a target of $ 18. 5 billion worth of manufactured and service exports for 2020, up 15% from 2019’s achievement of $ 16.1 billion.
EDB is entrusted with additional responsibilities including the formulation of national export development plans; facilitation of the supply and diversification of products and services; execution of research and market development programs; resolution of issues faced by exporters during their interaction with government bodies; development of skills within the Sri Lankan exporter community; and improvement of the international relationship between global and local agencies.
The goal of EDB is to provide assistance and create opportunities for Sri Lankan exporters and industries to expand their businesses internationally, thereby increasing export sales and employment prospects in the region. To meet this objective, it offers consultative services to small- and mid-sized businesses located throughout Sri Lanka and sponsors or co-sponsors educational seminars and training programs designed for exporters or potential exporters from within the region.
(FT)