COYLE Spearheads Advisory Council for Economic Resilience

COYLE Spearheads Advisory Council for Economic Resilience

COYLE (The Chamber of Lankan Entrepreneurs) is seeking to collaborate and offer support to government officials by assembling a panel of export oriented industry specialists in this time of need. COYLE is a vibrant community of entrepreneurs, inclusive of a number of well-experienced Export Revenue generating entrepreneurs and manufacturers. Various products and services operated by our members generate some of the highest income in the export trade market in Sri Lanka.

This initiative is a result of the United States’ imposition of a 44% reciprocal tariff on select import categories. This new tariff is expected to affect the volumes of exports, businesses of assisted services and employment. Recognising the potential long-term consequences of this change, COYLE is collaborating with stakeholders across the government as a source of support.

The Chamber is placing significant emphasis on key export sectors, including Rubber, Tea, Spices, Apparel, Electrical Products and Electronic Components, all of which play a central role in Sri Lanka’s export identity.

“We believe that the private sector must play a central role in navigating the challenges posed by shifting global trade dynamics,” a COYLE spokesperson stated. “We aim to provide well-informed, sector-specific recommendations that will support the government’s efforts to maintain competitiveness, promote investment and strengthen our national economic position.”

By bringing together independent perspectives and sectoral expertise, this initiative is an embodiment of COYLE’s commitment to collective progress. COYLE strongly believes that swift action is necessary to maintain Sri Lanka’s export demand in the face of global disruptions. The first immediate measure is to study the situation and act quickly to prevent any loss in export volumes.

COYLE stands to advocate for sustainable solutions to ensure continued access to global markets. The Council will also explore ways to assist in Sri Lanka’s Ease of Doing Business ranking, streamline export procedures, enhance logistics infrastructure, and attract foreign direct investment into export manufacturing and value-added processing.

As Sri Lanka faces the evolving global economic landscape, COYLE intends to assist in providing a pathway for Sri Lankan businesses to navigate challenges and seize opportunities. COYLE maintains its steadfast dedication to governmental support, engaging in collaborative efforts to guarantee a persistent economic trajectory for Sri Lanka.