Sri Lanka is gearing up to widen its global footprint by expanding free trade agreements (FTAs) with international partners. The government sees these partnerships as a way to diversify export markets, enhance competitiveness, and boost foreign exchange earnings.
Deputy Minister of Industry and Entrepreneurship Development, Chathuranga Abeysinghe, emphasised that market diversification is no longer optional but essential for building a resilient export sector. According to him, future FTAs will not only open new doors for Sri Lankan products but also help the country integrate more firmly into global supply chains.
The government’s strategy is twofold: increase value addition across industries and strengthen the country’s international brand identity. Apparel, one of Sri Lanka’s biggest export success stories, illustrates the opportunity. In 2024 alone, the apparel sector contributed over 5 billion US dollars in revenue. The national target is even more ambitious—raising that figure to 8 billion dollars by 2030.
With this renewed focus on trade expansion, Sri Lanka aims to position itself not just as a participant but as a stronger player in the global economy.
