The Hon. (Dr.) Anil Jayantha
In reply to a question by Hon. Ravi Karunanayake, the Minister set out export earnings targets rising from USD 23.6 billion in 2026 to USD 36 billion by 2030, with sectoral strategies aimed at higher value-added exports and access to new markets through FTAs, PTAs and improved existing agreements. He said the impact of new Trump tariffs would depend on bilateral negotiations and regional outcomes, while investment facilitation would proceed through the BOI and the amended Colombo Port City framework. He detailed MSME support measures, including concessional credit schemes, ADB programmes, and credit guarantees through NCGIL, with Rs. 96 billion budgeted across SME and related financing. He also stated that incentives remain rules-based under existing tax, strategic development and Port City laws, and that reserve accumulation is expected to support debt servicing after gross official reserves reached USD 6.82 billion by end-2025.
Verbatim record (translated)
Machine-translated from Sinhala / Tamil / English¶ 01 Hon. Speaker, the Answer to the Question raised by Hon. Ravi Karunanayake on 21.08.2025 is as follows:
¶ 02 1. Targets for export earnings: 2026 – USD 23.6 billion; 2027 – USD 28.3 billion; rising to USD 36 billion by 2030 (details in Annex 01).
¶ 03 2. All relevant sectors are expected to grow in line with projections up to 2030, with strategies tailored to global dynamics.
¶ 04 3. The impact of the newly imposed Trump tariff will be a net effect across markets medium-to-long term. Sri Lanka has engaged bilaterally to reduce tariffs and proceedings continue. Overall impact depends on outcomes in other countries, especially in the region.
¶ 05 4. To facilitate targets, we are exploring access to new markets via policy tools including new FTAs/PTAs with positive trade creation, considering market potential, enhancing existing agreements and emerging opportunities.
¶ 06 5. Strategies align to export higher value-added products.
¶ 07 6. Investment facilitation via BOI and the recently passed Colombo Port City Economic Commission (Amendment) Bill; further details in Annexes 02–03.
¶ 08 7. Support to MSMEs via concessional credit: - ADB SMELoC: Rs. 7 billion in 2025; Rs. 6.1 billion in 2026. - Re-MSME package: Rs. 20 billion annually in 2025 and 2026. - ADB Agriculture Value Chain Programme: USD 70 million from 2026. - ADB SME Sector Programme: USD 120 million from 2026. Total budgeted across SME/other financing: Rs. 96 billion.
¶ 09 8. To address collateral constraints, NCGIL was established with ADB support in Feb 2025; 458 guarantees worth Rs. 1.7 billion issued for loans of Rs. 2.5 billion, including nine guarantees of Rs. 5.9 billion for export businesses.
¶ 10 9. Post-facilitative regulation, about 2% of GDP is envisaged as FDI through BOI, Port City, and other investments.
¶ 11 10. Incentives available under: Inland Revenue Act 2017; Strategic Development Projects Act 2008 (under review); and Colombo Port City Economic Commission Act 2021 (amended). These are rules-based. Details are available at respective institutions.
¶ 12 11. Yes, reserve build-up is expected to ensure planned debt servicing. Despite scepticism, Gross Official Reserves reached USD 6.82 billion by end-2025, while allowing imports and continuing repayments.
¶ 13 - Annexes 01–03 tabled.
Provenance
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- Hansard, Friday, 9 January 2026 ·No. 23149 ·English daily/uncorrected Hansard
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Cite as: The Hon. (Dr.) Anil Jayantha. 10th Parliament, Parliament of Sri Lanka. Hansard, 9 January 2026. No. 23149. Politick, https://staging.politick.io/lk/speeches/1705