EDB, SLINTEC to provide R&D to exporters

The Export Development Board (EDB) signed a Memorandum of Understanding with the Sri Lanka Institute of Nanotechnology (SLINTEC) recently to enhance research and development for exporters.

As part of that endeavour, the EDB has provided SLINTEC space to open a office at its headquarters in Nawam Mawatha.

SLINTEC will also conduct a weekly 'Science Clinic' for exporters to discuss their main concerns and also drive innovation.

The EDB encourages exporters to use the facilities being offered and to seek the assistance of the SLINTEC. The EDB will also provide financial assistance to exporters to carry out research and development to address high impact projects.

State Minister of International Trade, Sujeewa Senasinghe said, "Within the last three months the EDB has launched many initiatives including the one-stop-shop and Exporters Forum. These initiatives have resulted in a new focus and today's MoU extends this new outlook even further. We need to realise that in addition to FDI and policies, new technology is crucial for us to develop and even enhance our exports."

Chairperson and CEO, EDB, Ms Indira Malwatte said, "Our way forward in exports is to go beyond the primary and traditional exports basket to innovative new products. According to Economist Ricardo Hausmann, who played a key role in the successful Vietnam export strategy, the only way forward in exports for countries such as Sri Lanka is to change our export basket to higher value, being innovative and through original products and service."

Chairman, SLINTEC, Dr Mahesh Amalean said technology will play an important role in facilitating the creation of new value to Sri Lankan exports thus providing an opportunity to meet the challenges of a highly competitive global environment.