Category: Trade
Aus-SL trade reaches AUD1.3bn with 27-pct growth in trade in services
Jan 09, 2018 (LBO) – Trade between Australia and Sri Lanka has surged to a record high of 1.3 billion Australian dollars in 2016-17, on the back of strong growth in trade in services, up more than 27 percent.Australian High Commission said the growth for the year overall was more than 15 percent, continuing the […]
US GSP withdrawal not country-specific, Impact on total exports small: AmCham
Jan 05, 2018 (LBO) – The American Chamber of Commerce says the decision to withdraw the GSP form Sri Lankais not being country-specific and is one stemming from the US Congress simply not re-authorizing the program before adjourning for the year 2017. With effect from the 1st of January 2018, the United States’ Generalized System […]
Sri Lanka Ports Authority to modernize Jaya Container Terminal
July 19, 2017 (LBO) – Cabinet nod has been received to modernize the Jaya Container Terminal (JCT) of the Sri Lanka Ports Authority in order to improve the capacity of the terminal. Ports and Shipping Minister Mahinda Samarasinghe said that this will be phase V of the renovation of the terminal which will allow the […]
Sri Lanka prepares for 7th session of FTA talks with China
July 17, 2017 (LBO) – Sri Lanka is preparing for a seventh session of talks with China on a Free Trade Agreement, the Ministry of Industry and Commerce said. Minister Rishad Bathiudeen, speaking at the product exhibition by China’s Guangxi Zuang Autonomous Region at SLECC in Colombo, said FTA talks with China were progressing smoothly. […]
Bangladesh’s first ever FTA will be with Sri Lanka later this year
By P.K. Balachandran Bangladesh’s first-ever FTA will be with Sri Lanka and that is expected to signed by year end, Bangladesh’s Foreign Secretary Mohmmad Shahidul Haque told the media in Dhaka on Friday. “Prime Minister Sheikh Hasina and President Maithripala Sirisena decided to sign the deal in 2017 and asked that negotiations and studies be […]
UNDP to help uplift local SMEs through National Trade Fair
July 11, 2017 (LBO) – The United Nations Development Programme (UNDP) Sri Lanka will organize Aadhayam 2017, a national trade fair, to help businesses expand and promote innovation, employment, skill development and local enterprise. Aadhayam 2017 will create a favorable platform for Sri Lankan small and medium sized enterprise to connect with larger markets and expand business […]
India will move on ETCA at a pace set by Lanka: envoy
By P.K. Balachandran Assuaging fears that India is set to “impose” an Economic and Technical Cooperation Agreement (ETCA) on Sri Lanka, the Indian High Commissioner in Sri Lanka, Taranjit Singh Sandhu, has said that India is ready to move on the ETCA at a pace Sri Lanka is comfortable with. “The proposed Economic and Technical […]
GSP Plus could add USD350 mln in export revenue, improve FDI: Min
July 03, 2017 (LBO) – GSP plus eligibility could add 350 million dollars in export revenue to Sri Lanka, while increasing potential for FDI, the minister for industry and commerce said. “The enhanced market access that Sri Lanka gets from EU GSP+ is very significant,” said Minister Rishad Bathiudeen. “In fact, according to the Department […]
Sri Lanka’s Watawala Plantations to separate tea business
June 30, 2017 (LBO) – Sri Lanka’s Watawala Plantations is planning to set up a separate company relating to the tea business segment of the company by segregating its operational assets and liabilities. The firm said in a stock exchange filing that the said assets and liabilities will be vested in the new limited company […]
‘s SAGT goes live with Navis terminal system
June 28, 2017 (LBO) – Navis, a part of Cargotec Corporation, a provider of operational technologies and services across the shipping supply chain, said South Asia Gateway Terminal (SAGT) in the Port of Colombo has successfully gone live with Navis’ N4 terminal system and N4 Billing. “SAGT selected the Navis terminal system to better optimize […]
Sri Lanka Economic Summit to discuss need for Smarter Trade Strategy
June 27, 2017 (LBO) – ‘Sri Lanka Economic Summit 2017’ will dig deeper into the island’s trade reform agenda anchored towards new preferential trade pacts, tariff liberalization and export promotion, with the participation of experts representing both local and international trade bodies. A thematic session titled ‘Executing a Smarter Trade Strategy Amidst Turbulence’ will have a […]
Sri Lanka to postpone SVAT abolition till end 2017
June 22, 2017 (LBO) – Sri Lanka’s cabinet approval has been granted to postpone the abolition of SVAT system until the end of this year. Accordingly, the SVAT abolition will take effect from 01 January 2018 after the necessary legislation is passed through Parliament. This decision has been taken in order to give sufficient time […]