Category: Trade
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 […]
Sri Lanka customs invites rights holders to fight counterfeits
Dec 04, 2015 (LBO) – Sri Lanka customs invited right holders of products to come forward to help authorities to stop importing counterfeit goods to Sri Lanka.Ashorf Samzudeen, deputy superintendent of Consumer Protection Unit, Sri Lanka Customs said they can fight against counterfeit and piracy only with the corporation of right holders, law enforcement agencies […]
Sri Lanka enters into Commonwealth trade finance for small states
Nov 30, 2015 (LBO) – Sri Lanka together with India, Malta and Mauritius have signed a declaration of intent to create a Commonwealth trade finance facility to boost trade and investment flows.The agreement was signed by the foreign ministers of the countries in Malta on November 26th.The voluntary fund hopes to attract start-up capital of […]
Sri Lanka to promote its ancient cinnamon trade
Nov 23, 2015 (LBO) – Sri Lanka’s government will set up an authority to develop the cinnamon trade, its main spice export, along with strengthening research and undertaking an international branding exercise, the minister of finance said.The spice trade in Sri Lanka dates as far back as 7th Century, but has underperformed in an economic […]
Sri Lanka bring in more price controls for consumer goods
Nov 19, 2015 (LBO) – Sri Lanka’s Consumer Affairs Authority has brought in a new set of Maximum Retail Prices (MRPs) for six new essential consumer items to be effective from 20 November. “The new maximum prices are introduced to safeguard consumers from sudden market hikes, especially in the forthcoming festival season,” Rishad Bathiudeen, Minister […]
US firms await clear policy to invest in Sri Lanka
Nov 17, 2015 (LBO) – Many businesses from the United States are willing to invest in Sri Lanka but are waiting more clear and consistent economic policy from the government, the US Ambassador said at the opening of the US trade fair in Colombo, Tuesday. “American companies are looking for safe investment opportunities,” Atul Keshap, US Ambassador […]
Lifting fish export ban to EU needs further steps: EU Council
Nov 17, 2015 (LBO) – Sri Lanka’s ban on fishery exports to the EU could be lifted if further necessary steps are taken, the European Union Council said. Releasing council conclusions in a statement the Council commended the steps Sri Lanka has taken to comply with the regulations of the Indian Ocean Tuna Commission. “The […]
‘s GSP+ application
Nov 17, 2015 (LBO) – The European Council has noted progress made by Sri Lanka on GSP+ criteria and supports renewed application, the institution representing the EU member states’ governments said in a statement. Sri Lanka intends to apply for tariff preferences provided under the special incentive arrangement for sustainable development and good governance (GSP+) […]
Sri Lanka should review TPP agreement and its impact: Harsha De Silva
Nov 11, 2015 (LBO) – Sri Lanka should review and consider the Trans–Pacific Partnership (TPP) agreement as an enabler to enter into global competitive markets as signaled in Prime Minister’s statement, Deputy Minister Harsha De Silva said. “We haven’t started to talk about this yet. But TPP is one of the most important trade partnership […]
‘s CCC, Japan Kansai to promote trade and investment
Oct 28, 2015 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce (CCC) signed an ‘Agreement of Cooperation’ to promote two way commercial ties with Japan’s Kansai Economic Federation, a statement said. “It enables both sides to exchange information on economic and business trends in the two countries, cooperate in trade, investment, environment conservation and energy-saving […]
Dilmah for trade liberalization provided there is a master plan: Malik
Oct 22, 2015 (LBO) – Sri Lanka’s top tea company Dilmah supports trade liberalization provided there is a master plan in place, Malik J. Fernando, a director of Dilmah, said at a forum in Colombo. An effective plan where local corporates are consulted and given preference over foreign investors is necessary within any sector undergoing […]