Category: Trade
Opinion: Sri Lanka’s Quest for a Rules-based Indian Ocean
February 6, 2019 (LBO) – Sri Lanka’s Quest for A Rules-based Indian Ocean Dr. Ganeshan Wignaraja and Dr. Dinusha Panditaratne* The evolution of Sri Lanka’s foreign policy since the election of a unity government on 8 January 2015 merits interest. Changes include the country’s engagement with a wider range of international partners, as well as […]
Sri Lanka exports grow 4.1-pct USD980Mn in Nov 2018
Jan 29, 2019 (LBO) – Sri Lanka’s deficit in the trade account narrowed significantly in November 2018 (year-on-year) following a decline in import expenditure, the Central Bank said. Exports grew by 4.1 per cent while imports contracted by 9.1 per cent in November 2018 (year-on-year). “The deficit in the trade account narrowed significantly in November […]
Sri Lanka enters into five MOUs with Philippines
Jan 17, 2019 (LBO) – Sri Lanka and Philippines signed five Memorandum of Understanding (MOUs) on education, tourism, agricultural and economic corporation.Further strengthening the bilateral relations between the two nations the agreements come with President Maithripala Sirisena’s ongoing four-day state visit to the Philippines.The President arrived in Philippines on 15 January for a five-day State visit following an […]
Sri Lanka and Nepal to strengthen economic cooperation
Jan 02, 2018 (LBO) – The Embassy of Sri Lanka in Nepal, together with the Nepal- Sri Lanka Chamber of Commerce and Industry organized a programme on “Promotion of Economic relations between Sri Lanka and Nepal” at Hotel Radission in Kathmandu, recently. Sri Lanka’s Ambassador to Nepal Swarna Perera and President of the Nepal- Sri […]
Ceylon Chamber facilitates efficient document approval process for exporters
Dec 18, 2018 (LBO) – A Memorandum of Understanding was signed between the Ceylon Chamber of Commerce and the Ministry of Foreign Affairs (MoFA) recently, for the certification of export related documents through the electronic Document Attestation System (e-DAS) of the Ministry. The MOU provides for the Ceylon Chamber of Commerce to use the e-DAS system […]
Expert Committee hands over report on Singapore-Sri Lanka FTA to President
Dec 11, 2018 (LBO) – The report compiled by a Presidential Commission on the Sri Lanka – Singapore Free Trade Agreement (FTA), was handed over to President Maithripala Sirisena Monday.In a tweet, President Sirisena said that the report highlights how the agreement had been rushed without the proper consent of stakeholder institutions.The presidential committee was chaired […]
Sri Lanka’s first national SME study calls for apex Commission & licensing agency
Sri Lanka’s first ever nation-wide study on the country’s SMEs recommend an apex SME Advisory Commission integrating the three top national SME institutions under one roof. It also recommends Sri Lanka’s first ever SME Industrial Zone, a national SME portal ‘e-platform’, and an SME-only licensing agency on the lines of BoI. “I wish to thank […]
Sri Lanka introduces Business to Consumer direct transaction under E-commerce
Oct 22, 2018 (LBO) – Sri Lanka’s Finance Ministry as envisaged in the Budget-2018 has established a regulatory framework enabling the Sri Lankan companies to initiate Business to Consumer (B2C) direct E-Commerce transactions with overseas customers.Sri Lankan Customers do enjoy this B2C e-commerce facility via E-bay and other trading platforms but not vice versa.Accordingly, hereafter […]
Sri Lanka DoC in breakthrough entry to world’s largest retail market
Sri Lanka’s Department of Commerce (DoC) has reported the country’s largest ever global trade linkage for Sri Lankan exports sector so far on 16 October in Colombo. The DoC also stressed that for the first time in a decade, Sri Lankan exports to this huge market has doubled. “The visit of China National Agriculture Wholesale […]
SAARC looks to go high tech to boost regional trade : Minister
Oct 15, 2018 (LBO) – Despite low trade within the region, there is potential for using information and communication technologies to contribute to social and economic progress across South Asian countries, Minister of Industry and Commerce said. “Despite the challenges, the e-commerce and related sectors in the South Asian countries offer huge business and investment […]
Sri Lanka FM interview ahead of IMF and WB annual meet on global trade, economy
Oct 10, 2018 (LBO) – Global finance and reserve bank chiefs will gather this week in Bali, Indonesia for the annual gathering of the International Monetary Fund and World Bank amid rising concern over trade war and risks of global economic crisis.Sri Lanka’s Minister of Finance and Communications, Mangala Samaraweera is chair of the Groups […]
‘s exports to South Asia Region: WB
Oct 08, 2018 (LBO) – If trade barriers are overcome, trade within South Asia can increase three-fold, from 23 billion US dollars to 67 billion US dollars, suggests a World Bank report. “Sri Lanka has the potential to more than double its exports to South Asia,” the new ‘A Glass Half Full: The Promise of […]