Sri Lanka is significantly underperforming in exports to Japan despite access to an estimated USD 60 billion potential market, policymakers and industry leaders said at a Sri Lanka Japan Business Council (SLJBC) forum on exports.
Export Development Board Chairman Mangala Wijesinghe told the forum, titled “Exports to Japan: Seizing the Opportunity Now,” that Sri Lanka’s presence in the Japanese market remained marginal at between USD 2.7 billion and USD 2.9 billion. He attributed the gap to a narrow export base, low SME readiness for Japanese standards and logistical disadvantages compared with regional competitors such as Vietnam and Thailand.
“Existing exports are mainly limited industrial and agricultural products, with limited capital and limited SMEs ready to meet the standard level of the Japanese market,” Wijesinghe said.
Department of Commerce Head of Trade Charitha Yattogoda said total exports to Japan stood at about USD 187 million — well below potential — and that import growth had outstripped exports, signalling a widening imbalance.
Japanese Ambassador Akio Isomata, delivering the keynote, warned that global energy security would face sustained instability for 20-30 years. “I don’t think it’s a black swan… I think it’s a grey rhino,” he said, urging Sri Lanka to reorient its economic strategy towards Asia. He pressed for acceleration of the proposed Sri Lanka-Japan-India industrial corridor, saying governments would set the framework but business circles must drive implementation.
BizEx Consulting Managing Director Sunil Wijesinha emphasised that Japanese buyers measure quality in “parts per million” and demand consistent — not occasional — quality. Long-term relationship building, not transactional deals, was the path to success in Japan, he said.
The forum was moderated by Daily FT Editor and CEO Nisthar Cassim. Athulla Edirisinghe is the President of the Sri Lanka Japan Business Council, with Lanka Harness Co Executive Chairman Dr. Rohan Pallewatte also on the panel.
Source: Daily FT.
