Sri Lankan exporters are voicing grave concerns over the vexing situation prevailing in the country. The Chamber is being contacted by its member exporters, stating that their overseas buyers have started to lose credibility of Sri Lankan exporters.
They fear that this will certainly lead to loss of business which will have severe consequences on their businesses and the country. As a responsible trade chamber, the National Chamber of Exporters of Sri Lanka (NCE), expresses concern by the ongoing social unrest in the country. Whilst the present government is in a rat race to probably resolve the burning issues, the NCE is of the strong view that all political, business and social leaders should collectively address the current crisis, strategically to rebuild the stability of Sri Lanka’s economy.
Sri Lankan Exporters have always been a strong cornerstone of the economy and is the only sector that generates steady inflow of foreign exchange. These same exporters are currently facing numerous challenges due to various issues. The industry has called on the authorities several times to resort to course correction on the multiple internal crises of forex, fuel and power to save the only steady inflow of the $ 15 billion annual export revenue. However, despite many efforts, the industry has not seen any light at the end of the tunnel, yet moving on amidst hardships.
In this current mayhem of ministerial resignations, appointment of interim cabinet in the light of increasing social unrest, the Chamber strongly requests the authorities to create a robust system and a conducive policy framework in support of the exporters. There are emerging global markets to explore and sustain, our exporters have to strive hard to stay ahead of the competition, yet without a favorable environment, exporters face an uphill task.
It is mandatory that the government take precautionary measures to safeguard the export industry of Sri Lanka.
Moreover, the industry has demonstrated the ability to earn US$ 1 billion per month being the solid contributor for the much needed foreign currency in the country. The industry will continue to perform even in the absence of foreign loans or grants received by the country. In this context, it is the utmost duty of the government to establish a line ministry responsible for wellbeing and the development of the export sector.
“We need a sustainable, long term, all-inclusive plan and a robust system irrespective of who remains in power.”