Sri Lanka exports up 27-pct in November: ministry

Dec 19, 2013 (LBO) – Sri Lanka’s exports rose 27 percent in November 2013 from a year earlier, with revenues during the first 11 months growing 5.1 percent, the commerce ministry said. In October 2012, Sri Lanka earned 827.6 million US dollars from exports and revenues for the 11 months were down 6.6 percent at 8,991.4 million US dollars, according to central bank data.

The commerce ministry quoting Sujatha Weerakone, director general of Sri Lanka’s Export Development Board said it was talking to the tea industry to take forward a ‘tea hub’ concept.

Most of Sri Lanka’s tea exporters are trying to make the island a global centre for tea, called the ‘Tea Hub’ concept but free trade in the commodity has been opposed by tea nationalists, though the product itself was brought to the country by foreigners.

Sri Lankan exporters had also participated in at Bio-Fach, an organic trade fair where three firms had got orders of 180,000 US dollars.

A US expert had conducted a seminar of ‘fair trade’, a growing fad among Western consumers who demand better working conditions and higher prices for small producers like farmers.