Category: Trade
Sri Lanka to provide adjustment package for FTA trade disruption
Oct 13, 2016 (LBO) – Sri Lanka will introduce a trade adjustment package for local industrialists in order to face possible trade disruptions that may occur during the initial stages of upcoming free trade agreements, a senior minister said. International Trade Minister Malik Samarawickrama said they are negotiating new FTAs with an open mind but […]
Social, environmental considerations a must in trade: World Export forum
Oct 12, 2016 (LBO) – Trading countries should look at multilateral levels with regional trade agreements alongside transformation in investment, trade and services, an official said at the World Export Development Forum in Colombo on Wednesday. “The trade agreements of the 21st century must respond to the economic and social realities of the century,” said […]
Sri Lanka GSP plus talks to commence in Brussels: PM
Oct 12, 2016 (LBO) – Sri Lankan premier Ranil Wickremesinghe said that he will be traveling to Brussels shortly for the Generalized System of Preferences (GSP) plus negotiations. “I am traveling to Brussels on Saturday to begin talks on restoring GSP plus,” Wickrememsinghe said at the inauguration of the World Export Development Forum in Colombo, […]
Expo paves way for faster subcontinent cross border logistics
Oct 10, 2016 (LBO) – Expo Freight says it has achieved a significant milestone in cross border trade in the Indian subcontinent after a shipment for Marks & Spencer crossed over seamlessly to India from Bangladesh, following a trading agreement. This is the first occasion a truck carrying cargo was allowed to cross over to […]
‘s Elephant House pours soft drinks into Europe
Oct 07, 2016 (LBO) – Sri Lanka’s iconic Elephant House has signed up with a UK-based bottling facility for the production of 1.5 litre PET plastic variants of its much-loved Necto, Cream Soda and Orange Barley beverages. With a view to increase exports into the European market, this bottling deal immediately targets expansion into key […]
Sri Lanka attracts major container ship MSC Maya to Colombo
Sep 27, 2016 (LBO) – Sri Lanka’s Colombo International Container Terminal (CICT) attracted one of the largest container ships in the world ‘MSC Maya’ with a capacity of 19,224 TEUS to the Colombo Port recently. Switzerland-owned Mediterranean Shipping Company’s MSC Maya made Colombo’s maiden call on 16th September 2016, replacing a smaller vessel owned by […]
Finance Ministry says merchants will pay lower VAT despite hike
Sep 26, 2016 (LBO) – Sri Lanka’s Finance Ministry says retail and wholesale merchants will have to pay a lower VAT payment than expected despite the rate hike from 11 to 15 percent. Under the proposed VAT amendment bill, the VAT will really be charged only on the revenue accumulated on the sale of VAT liable […]
Sri Lanka eyes FTA and increased funding from South Korea
Sept 26, 2016 (LBO) – Sri Lanka is interested in entering into a Free Trade Agreement with South Korea in the future, a senior minister revealed. International Trade Minister Malik Samarawickrama in a recent visit to Korea has conveyed Sri Lanka’s interest on an FTA to Korean Vice Minister of Trade. The Sri Lankan embassy […]
Summit: Office space in Colombo to quadruple with Port City
Sept 21, 2016 (LBO) – Sri Lanka’s capital Colombo office space will quadruple after the completion of the ongoing Port City development project, a Port City official said. Chief Marketing Officer of CHEC Port City Colombo, Liang Thow Ming, said the existing office space inside Colombo city is around 220,000 square meters. He was speaking […]
London Stock Exchange fills 100 tech jobs in Sri Lanka
Sept 19, 2016 (LBO) – London Stock Exchange Group said its Business Services division (LSEG BSL) in Sri Lanka has completed the first stage of its set-up operations, with over 100 tech sector professionals recruited. Set up in May 2016, the new 26,000 sq ft technology centre at Expert City in Maradana, will be manned […]
Sri Lanka vehicle registrations rebound from July lows: JB
Sept 19, 2016 (LBO) – Sri Lanka vehicle registrations saw a rebound in August from the July lows in the categories of small cars, three-wheelers, two-wheelers and mini trucks, JB Securities said. Motor car registrations in August were 3,011 units, up from 2,596 units the previous month, although significantly down from a high of 14,544 […]
Sri Lankan exporters showcase at 13th China Asean Expo
Sep 13, 2016 (LBO) – Twenty five Sri Lankan exporters have represented the island at the 13 CAEXPO (China-ASEAN Expo) in Guangxi, China, as a special guest country. “We believe that Sri Lanka can showcase its products to China in a big way at 13th CAEXPO-more importantly it is an opening to ASEAN importers,” Rishad […]