Harsha proposes export-focused diplomacy and SME credit facility using EPF/ETF

Ceylon United Business Alliance President Tania Abeysundara urges policy overhaul to support SMEs

- SJB MP Dr. Harsha de Silva

MAIN opposition party, Samagi Jana Balawegaya (SJB) MP Dr. Harsha de Silva last week proposed two structural interventions to support Sri Lanka's small and medium enterprises (SMEs): training diplomatic missions to promote exports and creating a dedicated long-term credit facility by tapping into domestic provident funds.

Delivering an address at the launch of Ceylon United Business Alliance (CUBA) International, an initiative of the Ceylon United Business Alliance, de Silva urged a shift in policy towards SMEs. The alliance is a consortium of small and medium enterprises that was formed during the COVID-19 crisis to deal with challenges they have since faced.

Noting that “what's happening tomorrow, we may not be able to predict today,” de Silva framed his proposals within a global environment marked by volatility and geopolitical shifts. He argued that traditional Government responses have failed to adapt, leaving SMEs without the institutional support needed to compete globally.

One key proposal was the revival of an economic diplomacy model piloted in 2017 with the Harvard Kennedy School. The program trained 49 Sri Lankan ambassadors, commercial officers, and mission staff to proactively promote Sri Lankan goods and services in foreign markets. The initiative was born out of a survey revealing that missions had made zero business presentations to foreign corporate boards over 12 months.

“If our missions are not promoting us, then obviously, the baton is not being taken over by the next person and the relay is stopped,” de Silva said.

Cannot work in compartments

He argued for embedding export promotion capabilities directly within foreign missions or assigning trained officers from institutions, like the Export Development Board or Department of Commerce. These should then be tightly connected with domestic agencies such as the Central Bank, BOI, and Treasury.