National Chamber of Exporters of Sri Lanka holds AGM 2025

• Outgoing President Jayantha Karunaratne acknowledges NCE’s relentless efforts in policy advocacy, industry engagement, capacity building, and global outreach
• Indra Kaushal Rajapaksa elected as New President; reaffirms commitment to further strengthening Sri Lanka’s export sector
• Guest of Honour Dr. Howard Nicholas stresses need for export-driven industrialisation to stabilise Sri Lanka’s economy
• Warns of looming foreign exchange crisis and argued that merely reducing the Budget deficit is insufficient 

The 30th Annual General Meeting (AGM) of the National Chamber of Exporters of Sri Lanka (NCE) marked a significant milestone in the Chamber’s journey. The event featured a leadership transition, a review of past achievements, and the presentation of a strategic roadmap for the future. Industry leaders, government officials, and key stakeholders attended the event, reaffirming their commitment to strengthening Sri Lanka’s export sector.

The evening commenced with the outgoing President Jayantha Karunaratne, expressing gratitude and reflecting on the Chamber’s resilience and achievements during his tenure. He highlighted the challenges exporters faced, including economic uncertainties, rising costs, and policy changes. Despite these obstacles, the Sri Lankan export sector demonstrated remarkable recovery, with total export earnings for 2024 reaching $ 16.17 billion, reflecting a 7.06% growth compared to the previous year.

Karunaratne acknowledged the Chamber’s relentless efforts in policy advocacy, industry engagement, capacity building, and global outreach. He credited the Council, the Management Committee, and the Secretariat for their unwavering dedication.

“As I step down, I take immense pride in the strides we have made together. The NCE has been a pillar of strength for our exporters, advocating on their behalf and providing strategic solutions to navigate a dynamic global trade environment. I have no doubt that the Chamber will continue to grow under the leadership of the newly elected President and his team.”

Following his address, the newly elected President Indra Kaushal Rajapaksa, took the stage to share his vision for the Chamber. Expressing gratitude for the trust placed in him, he reaffirmed his commitment to further strengthening Sri Lanka’s export sector.

The NCE continues to champion the interests of exporters as the newly elected President outlines a strategic roadmap to drive the country’s export sector forward. With an ambitious national export target of 19 billion by 2025, achieving this milestone requires collective effort, strategic partnerships, and unwavering commitment from both the public and private sectors.

While opportunities abound, challenges such as bureaucratic hurdles, trade barriers, and policy uncertainties must be addressed. Over the years, the NCE has worked closely with Government agencies, advocating for practical solutions and policy reforms. Many of the Chamber’s proposals have been reflected in the National Budget, but the focus now is on ensuring effective implementation for the benefit of exporters.

A critical concern remains the removal of the SVAT scheme, which, if not managed properly, could severely impact cash flow for exporters, particularly SMEs. The NCE remains committed to lobbying for a smooth transition that safeguards the interests of its members.

A key priority for the NCE is diversifying Sri Lanka’s export product basket to ensure sustainable economic growth, increase foreign exchange earnings, and reduce reliance on a limited number of industries. High-potential sectors such as boat and shipbuilding, marine offshore services, electronics, processed food, renewable energy solutions, and vehicle accessories manufacturing offer promising opportunities for growth.

With Sri Lanka’s strategic location in the Indian Ocean, the country is well-positioned to become a leading hub for shipbuilding, marine services, and offshore support industries, unlocking new economic prospects and strengthening its role in global trade.

The NCE is also collaborating with Sri Lankan missions worldwide to enhance trade-related activities. With the assurance of relevant ministries, these missions will play an active role in connecting exporters with potential buyers and facilitating Foreign Direct Investments (FDIs). The Chamber has already initiated this process and will soon establish a structured platform for members to engage with these missions effectively.

The success of Sri Lanka’s export sector depends on a unified effort from all stakeholders, including the NCE Council, Management Committee, Secretariat, and members. The newly elected President calls upon exporters, policymakers, and business leaders to contribute their insights and expertise in shaping policies and advocating for reforms that will position Sri Lanka as a globally competitive export hub.

“Together, let us build on the Chamber’s rich legacy and take Sri Lanka’s export sector to new heights. With purpose, determination, and a shared vision, we can create a thriving, export-driven economy.”

Following the speeches, Chamber Secretary General and CEO Shiham Marikar delivered a comprehensive presentation detailing the Chamber’s activities over the past year. He provided insights into seminars, workshops, trade delegations, and policy advocacy efforts undertaken by the NCE to support exporters.

Additionally, Marikar outlined the Chamber’s activity plan for the upcoming term (April 2025 – March 2026), which includes: Enhanced lobbying efforts to address sectoral challenges; Organising targeted trade missions to key international markets; Strengthening partnerships with overseas trade chambers to create new business opportunities for exporters and Introducing regional outreach programs to identify and develop emerging exporters across Sri Lanka.

He assured the new President and Management Committee of the Secretariat’s unwavering commitment to achieving these objectives and continuing to be a strong voice for Sri Lankan exporters.

The Guest of Honour Dr. Howard Nicholas, a leading economist with over 40 years of experience, delivered the keynote address. A former professor at Erasmus University of Rotterdam, he is renowned for accurately predicting major financial crises and has been a keynote speaker at the African Union and the UN.

At the AGM, Prof. Nicholas emphasised the urgent need for export-driven industrialisation to stabilise Sri Lanka’s economy. He warned of a looming foreign exchange crisis and argued that merely reducing the Budget deficit is insufficient. He highlighted export-led manufacturing as the most effective path to sustainable growth, citing examples of economies that have thrived through this strategy. He also debunked the myth that foreign borrowing is cheaper than domestic financing, explaining how excessive international debt has worsened Sri Lanka’s economic woes.

With the country’s persistent trade deficit averaging 10% of GDP, he called for a strategic shift towards industrialisation, linking export financing to productive infrastructure development. His message was clear: Sri Lanka’s long-term economic stability depends on prioritising export-oriented manufacturing, modernising infrastructure, and implementing targeted export-financing mechanisms.

The AGM concluded on an optimistic note, with the Chamber’s leadership reaffirming its dedication to supporting Sri Lanka’s exporters with a strategic and collaborative approach.

“The strength of the NCE lies in its collective will and unwavering commitment of its members. By working together, we can elevate Sri Lanka’s position in the global trade landscape and achieve sustainable economic growth.”

With a clear roadmap, committed leadership, and strong industry participation, the National Chamber of Exporters is poised to drive Sri Lanka’s export sector to new heights in 2025 and beyond.