Compliance to EUDR not option but must for struggling local exporters

Non-compliance of EUDR would shut EU market for local rubber export, shrinking GDP by 0.07%

- BY RANDIMA ATTYGALLE

LEADING industry experts last week underscored the urgency of strategic collaborations to support exporters, particularly Small and Medium Enterprises (SMEs), to navigate challenges and help them remain competitive in the European market.

They emphasised that if Sri Lanka's struggling exports are to transform from challenge to opportunity, compliance needs to be tapped as a unique selling proposition (USP).

These and other useful insights were shared at a program jointly hosted by Verité Research and the EU Delegation to Sri Lanka and the Maldives under the theme 'From Compliance to Competitiveness - Securing Sri Lanka's Place in the Global Market.'

EU Ambassador to Sri Lanka and Maldives Carmen Moreno said: "In a global marketplace which is rapidly changing, it is pertinent that we all ask the urgent question - how to adapt, remain competitive, and sustain growth in the years ahead."

"In some sectors, we find Sri Lankan companies with a strong competitive edge. They have embraced compliance with environmental and social standards and transformed it into global competitiveness. But the private sector cannot navigate these changes alone," she added, citing the 'Competitiveness Compass,' which is the EU's strategy to restore Europe's dynamism and boost economic growth.