NDB partners with Maersk to support exporters to venture into new global market opportunities
Tue, Aug 11, 2020, 09:53 am SL Time, ColomboPage News Desk, Sri Lanka.
Aug 11, Colombo: Sri Lanka’s National Development Bank (NDB) recently signed a Memorandum of Understanding (MoU) with Maersk under its ‘Jayagamu Sri Lanka’ initiative to support exporters with services and expertise in the shipping sector.
Expressing his views, NDB Bank Vice President of SME, Middle Markets and Business Banking Indika Ranaweera said: “Developing the SME sector in Sri Lanka by providing tailor-made solutions has always been an important aspect of the NDB Jayagamu Sri Lanka initiative.”
“With a reach of 343 ports globally in 120 countries, Maersk connects Sri Lanka to the world and offers solutions in inland transport, Customs and regulatory clearance, warehousing, consolidation and distribution globally to exporters,” he said.
Maersk will also assist with the NDB Exporters Network by connecting Sri Lankan exporters to relevant global buyers, providing contact details, providing Sri Lankan exporters with knowledge on the regulations of different countries and different product standards required. Additionally, Maersk will provide training on making business pitches, logistic services, pick up from customer facilities, consolidation when required, warehousing in Sri Lanka, and if required at destination, container storage solutions, customs and regulatory clearance, placing of booking, handling of ocean freight, full container load, loose container load, and air freight, and inland transportation in Sri Lanka and destination.
In terms of network connections and training, Maersk would be free-of-charge in the view of partnering the development of Sri Lankan economy.
Maersk is an integrated container logistics company, which is in the business of connecting and simplifying trade to help its customers grow and thrive. Trade forms the backbone of the global economy and by enabling and simplifying it for the customers, Maersk is contributing towards strengthening it.
The Small and Medium Enterprises (SMEs) contribute to almost half of Sri Lanka’s economy and provide employment to more than 52% workforce. The SMEs are thus an important part of the ecosystem, and it is imperative that they get access to the right infrastructure to grow.
Twill, a digital logistics solution from Maersk, offers its customers door-to-door logistics solutions over land as well as sea. Twill gives access to its customers to getting quotes with transparent pricing, easy online booking, greater control of shipments through tracking services, simplified digital documentation, access to the wide and solid network of Maersk and a proactive 24/7 customer care. Twill will make global trade less complex, faster, cost-effective and accessible for SMEs out of Sri Lanka by offering them a digital, end-to-end logistics solution.
To further assist the SMEs with the complexity of managing their supply chains, Maersk is also launching Maersk Flow – a digital platform which provides customers and their partners with everything they need to take control of their supply chain, from factory to market.
Maersk Sri Lanka Country Manager Siddharth Iyer said: “The entrepreneurial potential of the SMEs in Sri Lanka could contribute strongly to the country’s economic growth. We want to provide them with access to international trade by eliminating the complexity in supply chains and making international markets accessible to them.”
The bank, which is the fourth largest listed commercial bank in Sri Lanka, is one of the fastest growing banks, having had a cumulative average growth rate (CAGR) in advances by 21% and in deposits by 25% in the last four years. From its inception, NDB Bank, along with the NDB Group, has been a catalyst in the development of the nation, strengthening and empowering entrepreneurs, corporates and individuals from all strata of the economy.