November 20, Colombo (LNW): In a significant move to enhance the export capacity of the nation and strengthen the global standing of small and medium-sized enterprises (SMEs), the Sri Lanka Export Development Board (EDB) has joined forces with the International Finance Corporation (IFC) to roll out the Sri Lanka Export Excellence Initiative (SLEEI).
The agreement between the two organizations was formalized after discussions involving EDB Chairman and Chief Executive, Mangala Wijesinghe, and representatives from the IFC.
These talks centered on the initiative’s execution and its contribution to revitalizing Sri Lanka’s economy through export expansion.
The SLEEI is a thorough program aimed at empowering local companies by offering specialized training, access to markets, and support to assist SMEs in navigating the challenges of global trade.
The initiative is specifically tailored to elevate Sri Lankan SMEs by providing them with all-encompassing assistance, market entry opportunities, and a systematic development plan.
SLEEI’s primary goal is to equip domestic enterprises with the essential knowledge and tools to succeed in international markets, fostering sustainable and substantial growth in exports.
By spearheading the Sri Lanka Export Excellence Initiative, the EDB and IFC continue to drive a new wave of Sri Lankan SMEs into the global market, significantly contributing to the country’s economic progress.
A key objective of this collaboration is to integrate sustainability into export-focused training programs, ensuring that participating SMEs are not only equipped for international trade but also in line with global sustainability norms.
“This initiative isn’t merely about increasing exports; it’s about providing Sri Lankan businesses with the necessary tools to succeed and excel in a challenging global environment,” stated Wijesinghe.
SLEEI’s mission is to support SMEs in adopting sustainable business practices while aligning with international trade and sustainability criteria.
Participants in the program will be guided on how to incorporate sustainability principles into their business operations, a crucial aspect for staying competitive in global markets.
SLEEI stands out for its emphasis on sustainability, incorporating export-oriented awareness programs that prepare SMEs to meet international environmental and social standards. “In today’s world, sustainability isn’t optional in global trade; it’s a fundamental requirement.
This initiative seeks to nurture a new generation of SMEs that are not only prepared for export but are also conscious of sustainability,” Wijesinghe emphasized.
The EDB has underscored its commitment to creating a favorable policy environment for SMEs, with Wijesinghe affirming the organization’s steadfast support for the program, highlighting its significance in driving export growth and expanding SME contributions to the national economy.
The IFC, a long-time partner in Sri Lanka’s development journey, echoed this commitment, pointing out that the initiative will enable SMEs to access new opportunities and make a meaningful impact on the country’s economic recovery.
