The National Chamber of Exporters of Sri Lanka (NCE) has further strengthened its long-standing strategic partnership with Ernst & Young (EY), reaffirming a shared commitment to enhancing the competitiveness, resilience, and global readiness of Sri Lankan exporters.

The partnership, which has successfully continued over several years, was recently renewed through the signing of a Memorandum of Understanding (MoU). The renewal reflects the mutual confidence between the two organizations and their commitment to delivering greater value to Sri Lanka’s export community.

Following the renewal of the MoU, an NCE delegation led by President Mr. Indhra Kaushal Rajapaksa, together with Secretary General/Chief Executive Officer Mr. Shiham Marikar and Executive – Operations Ms. Enuri Gurusinghe, met with Ms. Gayathri Manatunga, Country Managing Partner (CMP) of EY Sri Lanka and the Maldives, to discuss expanding the scope of collaboration in response to emerging global trade challenges and opportunities.

Over the years, EY has been an invaluable Strategic Knowledge Partner of the NCE, providing professional expertise in areas such as financial management, taxation, corporate governance, risk management, regulatory compliance, and business advisory services. The partnership has also been strengthened through EY’s active representation on the NCE Management Committee, with a senior member of EY serving as the Honorary Treasurer. In this capacity, EY provides valuable financial oversight, strategic guidance, and governance advice to the NCE Management Committee, contributing to the Chamber’s continued financial stability and institutional excellence.

During the discussions, both organizations agreed to further leverage EY’s extensive global expertise to support Sri Lankan exporters in addressing evolving international trade requirements. Particular emphasis was placed on the increasing complexity of tariff-related regulations, market access requirements, and compliance obligations being introduced by key export destinations.

Recent developments relating to U.S. tariffs on Sri Lankan exports, including additional tariff measures linked to areas such as compliance, supply chain traceability, transparency, and the prevention of forced labour, underscore the urgent need for exporters to strengthen their internal systems and preparedness. The United States remains Sri Lanka’s largest single export market, accounting for approximately US$3 billion in annual exports, with apparel being a key contributor. Protecting and expanding access to this important market requires Sri Lankan exporters to continuously align with evolving international standards and regulatory expectations.

Similarly, the European Union remains one of Sri Lanka’s most important trading partners, particularly for sectors such as apparel, fisheries, food products, and other value-added exports. The EU market continues to introduce increasingly stringent requirements relating to sustainability, environmental standards, due diligence, carbon reporting, ethical sourcing, supply chain transparency, and traceability. Compliance with these requirements is becoming a key determinant of competitiveness in global markets.

Recognizing these challenges, the NCE and EY will collaborate to organize a series of knowledge-sharing initiatives, including seminars, workshops, executive briefings, and practical awareness programmes aimed at helping exporters better understand international regulatory developments and develop effective compliance strategies.

The partnership will also focus on assisting exporters in developing comprehensive compliance frameworks covering areas such as supply chain traceability, Environmental, Social and Governance (ESG) standards, customs compliance, trade documentation, international tax implications, transfer pricing, sustainability reporting, corporate governance, and enterprise risk management. These initiatives will support Sri Lankan exporters in strengthening their competitiveness while reducing potential trade risks.

The NCE highlighted that this collaboration comes at a significant time for Sri Lanka’s export sector, with the country embarking on an ambitious export-led growth strategy through the National Export Development Plan (NEDP) 2026–2030. The plan has set an ambitious target of achieving US$36 billion in export earnings by 2030, comprising approximately US$28 billion from merchandise exports and over US$8 billion from services exports. The strategy aims to position Sri Lanka as a competitive logistics and knowledge-intensive export hub serving regional and global markets.

Achieving these national export targets will require a coordinated effort involving the Government, private sector, industry associations, professional institutions, and exporters. At a time when international markets are placing greater emphasis on compliance, sustainability, transparency, and responsible supply chains, national-level support mechanisms are essential to ensure Sri Lankan exporters are equipped to meet these obligations.

Furthermore, EY will guide the NCE on international best practices, with particular emphasis on how other exporting nations are responding to U.S. tariff measures and other emerging global trade regulations. This knowledge will enable the NCE to engage more effectively with relevant government ministries, regulatory authorities, and industry stakeholders in developing national guidelines and best practices that will help Sri Lankan exporters establish internationally accepted compliance systems across their entire value chain.

Such collaboration will be vital in maintaining Sri Lanka’s market share in premium export destinations, enhancing the country’s reputation as a trusted and responsible sourcing destination, and ensuring that Sri Lankan businesses remain competitive in an increasingly regulated global trading environment.

In addition, the partnership will explore other emerging areas of importance to exporters, including digital transformation, data analytics for export businesses, cybersecurity, evolving international tax policies, investment facilitation, business restructuring, customs and trade advisory services, climate-related disclosures, sustainability assurance, artificial intelligence applications, and strategies for building resilient and future-ready export enterprises.

Speaking on the strengthened collaboration, the NCE stated that partnerships with globally respected professional organizations such as EY are essential in equipping Sri Lankan exporters with the knowledge, expertise, and practical tools required to navigate an increasingly complex international trading environment. By combining the NCE’s strong engagement with the export sector and EY’s global professional capabilities, the partnership will continue to deliver high-value knowledge, strategic guidance, and practical solutions that support the long-term growth and success of Sri Lanka’s export industry.