In a timely and forward-looking initiative, the Sri Lanka–Korea Business Council (SLKBC) of the Ceylon Chamber of Commerce convened a strategic dialogue titled “Sri Lanka’s Export Prospect? Challenges. Opportunities. Reforms” on April 24 at the Hilton Colombo Residences.
The event drew participation from high-ranking diplomats and key institutional stakeholders, including Ambassador of the Republic of Korea to Sri Lanka, Miyon Lee, and her team from the Korean Embassy. Representatives from leading Korean entities such as KOTRA, KOICA, the Korea Business Association (KBA), Korea Residents Association (KRA), and Korea Exim Bank were also in attendance.
Calls for Urgent Reform and Strategic Alignment
Delivering the keynote address, Shippers’ Academy CEO Rohan Masakorala painted a candid picture of Sri Lanka’s position in global trade and underscored the need for accelerated reforms. He stressed that the current policy landscape—marked by moves like the removal of the Simplified VAT (SVAT) system and insufficient exporter support—is harming investor confidence and making it increasingly difficult for the merchandise export sector to maintain momentum.
“Without urgent, data-driven reforms and targeted institutional backing, Sri Lanka risks falling further behind in the global export race,” Masakorala warned. His remarks sparked an active Q&A session, highlighting the high level of engagement among participants.
Strengthening Public-Private Collaboration
Officials from key government agencies such as the Board of Investment (BOI), Export Development Board (EDB), and Sri Lanka Customs were present, contributing to a robust public-private dialogue. Discussions centered on aligning trade policies with logistics development and institutional efficiency to help Sri Lanka better integrate into global and regional value chains.
The dialogue also explored untapped export opportunities and sought to build bridges between Sri Lanka and Korea through increased cooperation and investment in export-oriented sectors.