As the nation aims to achieve an export target of US $ 50 billion by 2020, Ministry of International Trade yesterday stressed that the nation must get into heavy industries to reach its aspirations.
“Sri Lanka has the potential to reach its targets, but it cannot be achieved without diversifying. We cannot go on with the conventional exports. Although it is imperative to improve that area, it is essential we concentrate heavy industries,” said State Minister of International Trade Sujeewa Senasinghe.
Encouraging exporters to engage in the manufacturing of automobiles, pharmaceuticals and similar industries, the Minister stressed on the need to further improve standards and attract new players.
Pointing out that the new regime has “comparatively” brought in good governance, rule of law and, democracy, the Minister said the foundation has been laid out for the next six years and urged the exporters to capitalise on it.
Senasinghe noted that it is through competition, along with the uptake of global best practices that will help the nation witness a boost in its export earnings.
“We need that exposure and this is why we are opening the market for foreign investors to come in. With that we are hoping to reach value addition levels of 80 percent. That’s a change. But it is essential for us to have the support and cooperation of the public and the business community.”
As the government has highlighted exports as its key theme for the next five years, Senasinghe shared that the county can certainly look forward to better times ahead as it is aimed to establish 5000 industries in the near future. (SAA)