EDB Identifies New Global Market Opportunities Amid U.S. Tariff Pressure

COLOMBO (News 1st); The Export Development Board says that in light of U.S. reciprocal tariff pressures, opportunities emerging in European, Asian, and other international markets have now been identified as part of efforts to diversify export markets.

Its Chairman, Mangala Wijesinghe, stated that government officials and representatives from the export sector met yesterday to discuss strategies to counter the impact of the U.S. tariff measures.

Chairman of the EDB, Mangala Wijesinghe, stated that exporters were made aware of government-backed financial support mechanisms aimed at assisting them during this difficult period.

The session also addressed technological adaptation strategies, innovation-driven approaches, and both short- and long-term trade policy responses, with a focus on ensuring the resilience and sustainability of Sri Lankan exports.

Key government officials who delivered strategic briefings during the session included:

Dr. Harshana Suriyapperuma, Secretary to the Ministry of Finance and Planning

J.M. Thilaka Jayasundara, Secretary to the Ministry of Industries and Enterprise Development

K.A. Vimalenthirarajah, Secretary to the Ministry of Trade, Commerce, Food Security, and Cooperative Development

The discussions took place against the backdrop of a recent U.S. government announcement to reduce tariffs on certain imported goods from 30% to 20%, a change officially declared last Friday.

The new Executive Order signed by the U.S. President includes tariff revisions for 40 countries and came into effect starting today, according to a statement released by the White House.