Category: Trade
Vietnam can access South Asian markets through Sri Lanka: Harsha
Jan 31, 2016 (LBO) – Sri Lanka’s Deputy Minister of Foreign Affairs said the island intends to strengthen and forge stronger economic links with Vietnam while the nation could enter the South Asian market through investments here. “More and more Vietnamese business ventures could explore the potential of Sri Lanka’s business and market environment where […]
Sri Lanka imposes taxes on import of Mackerel fish
Jan 28, 2016 (LBO) – Sri Lanka will impose taxes for importing of tinned mackerel fish under a proposal brought to cabinet by Fisheries Minister Mahinda Amaraweera. In 2013 taxes on imported canned fish was increased to 100 rupees per kilogram to encourage the local production and it was reduced to 50 rupees as a […]
EU Export Helpdesk provides support for exporters
Jan 27, 2016 (LBO) – The various conditions for exports to the European Union can be referred through the online EU Export Helpdesk, a European Commission official said at the recently held EU-SL Trade seminar. The site provides conditions for products exported to the EU such as health, technical standards and marketing standards as well […]
Proposals to be called for Hambantota Port Industrial Zone
Jan 25, 2015 (LBO) – Sri Lanka’s government plans to call for proposals to set up industries in the Hambantota Port’s Industrial Zone under the Hambantota Port Development Project, the Information Department said. Sri Lanka Ports Authority has prepared the business plan in order to identify the business ventures that could be undertaken under the […]
Sri Lanka targets USD5 bn FDI in next three years, Malik to visit China
Jan 18, 2016 (LBO) – Sri Lanka is targeting five billion US dollars worth of foreign direct investments (FDI) in the next three years, Minister of Development Strategies and International Trade said. “We are targeting 5-6 billion US dollars in FDI the next three and I am quite optimistic that we will get there,” Malik […]
Manning Market to relocate, area for transportation facilities
Jan 14, 2016 (LBO) – The Cabinet has decided to relocate the Manning Market from Colombo port to Peliyagoda area and utilize the premises for public transportation facilities. Colombo, Fort areas have been recognized as a combined development zone under the Colombo City Development Plan (2008-2020) prepared by the Urban Development Authority. Accordingly, it is […]
Sri Lanka to ratify WTO Trade Facilitation Agreement
Jan 07, 2016 (LBO) – Sri Lanka’s cabinet has approved a proposal to ratify the Trade Facilitation Agreement adopted in 2013 at the 09th Ministerial Meeting of the World Trade Organization in Indonesia. The agreement intends to accelerate and facilitate procedures related to customs clearance and borders relevant to import and export of goods. Maintaining […]
China to ink FTA with Sri Lanka
Dec 30, 2015 (LBO) – China will have discussions with Sri Lanka next year on a proposed Free Trade Agreement (FTA) in a bid to build stronger trade and investment ties, a foreign news report said. Gao Hucheng, the Chinese Minister of Commerce was quoted on Chinese news agency Xinhua as saying that China […]
No movement of professionals under Indo-Lanka pact: Harsha de Silva
Dec 23, 2015 (LBO) – Deputy Minister of Foreign Affairs Harsha de Silva requested professionals not to mislead the public with false statements as there is no movement of natural persons under proposed Indo – Lanka economic pact.Speaking at a press briefing de Silva emphasized that there is no point of holding union actions with […]
Sri Lanka expects EU fishing ban to be revoked by mid 2016
Dec 22, 2015 (LBO) – Sri Lanka is looking at a favorable response about the lifting of EU fishing ban from the European Parliament by mid next year, the Fisheries Minister said. “During the coming months the proposal to lift the fishing ban will be presented to the European Parliament,” Fisheries Minister Mahinda Amaraweera said. […]
Information Bank for economic diplomacy soon, says Harsha De Silva
Dec 16, 2015 (LBO) – Sri Lanka plans to launch a ‘Knowledge Platform,’ an online internet information bank to promote economic diplomacy, Deputy Minister of Foreign Affairs, Harsha de Silva said.The platform would be launched by the end of the first quarter of 2016. De Silva revealed this during the second meeting of the Inter […]
Special economic zones, a driving force for increased trade in Asia: ADB
Dec 14, 2015 (LBO) – Special economic zones (SEZs) can be a driving force for increased trade, investment, and economic reform in Asia as it experiences a slowdown in trade, provided the right business environments and policies are put in place, a new Asian Development Bank (ADB) report said. “The expansion in the number of […]