Discover how Mangala Wijesinghe will lead Sri Lanka’s National Export Strategy and drive sustainable growth in the export sector.
A significant leadership change has occurred within Sri Lanka’s export sector. Mangala Wijesinghe, Chief Operating Officer of Brown & Company PLC, has been appointed as the new Chairman of the Export Development Board (EDB). He takes over from Dr. Kingsley Bernard, a well-known marketer and management expert, who led the EDB since April 2023. Wijesinghe’s vast experience across diverse industries positions him well to continue driving Sri Lanka’s export sector forward, aiming to expand its international market presence and boost export values.
The Role of EDB in Sri Lanka’s Economy
The Export Development Board (EDB) plays a crucial role in Sri Lanka’s economic landscape. Established in 1979 under the Sri Lanka Export Development Act No. 40, the EDB is tasked with promoting the country’s exports, which form a critical part of the national economy. The board’s key responsibilities include formulating national export strategies, advising the government on export policies, and ensuring the performance of the export sector aligns with national growth objectives.
By serving as a bridge between the government and exporters, the EDB ensures that Sri Lankan products and services are positioned competitively on the global stage. The institution is vital for fostering innovation, expanding market reach, and nurturing the growth of small- and medium-sized enterprises (SMEs).
Mangala Wijesinghe’s Professional Journey
Mangala Wijesinghe’s career is a testament to his leadership capabilities and dedication to economic development. As the Chief Operating Officer of Brown & Company PLC, a major conglomerate in Sri Lanka, Wijesinghe has gained substantial experience in managing various sectors, including industrial, service, and export industries. His leadership roles extend beyond Brown & Company, having served in key positions at East West Information Systems (E-WIS), Lanka Television Networks, and Pramuka Savings & Development Bank.
With over 16 years of experience in the corporate world, Wijesinghe’s expertise is diverse, covering business management, marketing, and export development. This experience will be instrumental in guiding the EDB to meet its ambitious goals.
Transition from Dr. Kingsley Bernard
Mangala Wijesinghe succeeds Dr. Kingsley Bernard, who led the EDB through a transformative period. Under Dr. Bernard’s leadership, the EDB implemented several key initiatives aimed at modernizing Sri Lanka’s export strategies, with a focus on expanding into new markets. His tenure saw the introduction of innovative programs designed to enhance the competitiveness of Sri Lankan products and services.
The transition to Wijesinghe’s leadership marks a new chapter for the EDB. While Dr. Bernard’s legacy sets a strong foundation, Wijesinghe’s appointment signals a fresh perspective aimed at further advancing Sri Lanka’s export potential.
Mangala Wijesinghe’s Vision for EDB
Mangala Wijesinghe has already outlined his vision for the EDB, with a strong emphasis on increasing the country’s export value and diversifying into new markets. He aims to strengthen Sri Lanka’s global market position by capitalizing on emerging market trends, fostering innovation, and encouraging sustainable practices across industries.
Wijesinghe’s approach will focus on the effective implementation of the National Export Strategy (NES) and enhancing international trade relations. His leadership will seek to provide SMEs with greater support, helping them tap into global opportunities and contribute to the broader economic development of Sri Lanka.
Export Development Board’s Key Responsibilities
The EDB’s responsibilities are diverse, ranging from policy advising to market promotion and industry facilitation. Under Wijesinghe’s leadership, these functions are expected to be enhanced further to ensure more Sri Lankan businesses gain access to international markets. The board plays an active role in:
- Advising the government on national export policies
- Monitoring the performance of Sri Lanka’s export sector
- Promoting products and services through development programs
- Facilitating coordination between exporters and government agencies
- Providing knowledge and advisory services to exporters
With Wijesinghe at the helm, the EDB will continue to serve as a key driver in promoting the country’s exports, enhancing their quality, and positioning Sri Lanka as a prominent player in the global market.
Sri Lanka’s National Export Strategy (NES)
The National Export Strategy (NES) is central to Sri Lanka’s economic development efforts, focusing on expanding exports in key sectors such as tea, rubber, apparel, and spices. Under Wijesinghe’s leadership, the NES will likely receive renewed attention, with an aim to increase Sri Lanka’s export value to $28 billion by 2025.
Wijesinghe’s background in management and international business will be pivotal in executing the NES effectively, particularly in areas such as product diversification and market expansion beyond traditional markets like the EU and USA.
Challenges Faced by the Export Sector
Sri Lanka’s export sector faces numerous challenges, from fluctuating global demand to stiff competition in international markets. The recent economic downturn has also affected export volumes, particularly in key sectors such as apparel and tea.
However, Wijesinghe’s leadership could be the catalyst needed to overcome these obstacles. His strategic focus on innovation, market diversification, and improving global trade relationships may help the EDB mitigate these challenges and revitalize the sector.
Brown & Company’s Influence on Wijesinghe’s Leadership Style
Mangala Wijesinghe’s extensive experience at Brown & Company PLC has significantly shaped his leadership style. Known for his pragmatic approach and results-oriented mindset, Wijesinghe has led the company through several key expansions, improving operational efficiencies and market positioning.
This experience will prove beneficial in his role at the EDB, where similar leadership qualities will be necessary to navigate the complexities of Sri Lanka’s export sector and unlock new opportunities for growth.
Improving International Relations
One of Wijesinghe’s key objectives is to strengthen Sri Lanka’s relationships with global trade bodies and markets. Maintaining strong diplomatic and trade relations is crucial for the success of the export sector, and Wijesinghe’s emphasis on enhancing these ties will help Sri Lankan exporters gain a stronger foothold in international markets.
Enhancing Export Value
Sri Lanka aims to boost its export value to $28 billion by 2025, and Wijesinghe’s leadership will play a crucial role in achieving this target. Through strategic interventions and targeted export programs, the EDB will work toward increasing the global demand for Sri Lankan products and services.
Supporting Innovation and Development
Innovation is a key driver of export success, and Wijesinghe is a strong proponent of fostering innovation within the industry. By supporting research and development, he aims to ensure that Sri Lankan exports remain competitive in global markets, especially in emerging industries like technology and renewable energy.
Focusing on Emerging Markets
Under Wijesinghe’s leadership, the EDB is expected to place a stronger emphasis on tapping into emerging markets beyond the EU and USA. Asia, Africa, and the Middle East present new opportunities for Sri Lankan exports, particularly in sectors like agriculture, textiles, and technology.
Sustainability in Export Growth
Sustainable development is increasingly becoming a priority for global markets, and Sri Lanka’s export sector is no exception. Wijesinghe will focus on promoting eco-friendly products and sustainable practices to ensure that the country’s exports remain competitive in environmentally conscious markets.
Conclusion
Mangala Wijesinghe’s appointment as the Chairman of the EDB marks an exciting new chapter for Sri Lanka’s export sector. With his extensive experience in leadership, management, and international business, Wijesinghe is well-positioned to guide the EDB toward achieving its ambitious goals. As he steps into this role, the future of Sri Lanka’s export sector looks promising, with the potential for significant growth and development under his leadership.
FAQs
- Who is Mangala Wijesinghe? Mangala Wijesinghe is the newly appointed Chairman of Sri Lanka’s Export Development Board (EDB) and has a background in leadership roles across various industries.
- What is the role of the EDB in Sri Lanka? The EDB promotes Sri Lanka’s exports and helps formulate national export strategies, providing guidance to the government and supporting the growth of SMEs.
- What was Dr. Kingsley Bernard’s contribution to the EDB? Dr. Bernard led the EDB through significant changes, enhancing Sri Lanka’s export strategies and expanding its global market presence.
- What are Mangala Wijesinghe’s plans for the EDB? Wijesinghe aims to boost Sri Lanka’s export value, expand into new markets, and support innovation and sustainability within the sector.
- What are the challenges faced by Sri Lanka’s export sector? The sector faces issues like fluctuating global demand and stiff competition, but Wijesinghe’s leadership focuses on overcoming these challenges through innovation and market diversification.