Category: Trade
Sri Lankan exporter secures Rs53mn order for Ceylon Sapphire
July 27, 2015 (LBO) – A Sri Lankan exporter from Matale has secured a 53 million rupee order for Sapphire gems at the recently held Milano exposition, Sri Lanka Tourism Promotion Bureau (SLTPB) said in a statement.“The buyer hails from Zhejiang Province in China and has signed the agreement for delivery within a year,” the […]
Sri Lanka’s exports flat in May while imports up: Central Bank
July 22, 2015 (LBO) –Sri Lanka’s exports earnings recorded a marginal decline of 0.1 per cent, year-on-year, to 883 million US dollars in May 2015, led by lower performance in tea, sea food, gem, diamond and jewellery exports, and the Central bank said. Earnings from industrial exports increased by 3.3 per cent to 661.3 million […]
Guaranteed price for green leaf extended till next month; Rs200mn for Tea Shakthi Fund
July 16, 2015 (LBO) – Sri Lankan government has decided to extend the guaranteed price of 80 rupees per kilogram of green leaf produced by tea smallholders until this August.Cabinet of Ministers has approved a proposal by Plantation Industries Minister Lakshman Kiriella to extend this scheme implemented under the 100 day programme of the government.Meanwhile […]
Sri Lanka gives nod to transport “Walla-Patta” on commercial basis
July 16, 2015 (LBO) – Sri Lanka’s cabinet of ministers have given approval to transport the plant “Gyrinopswalla” or “Walla –Patta” on commercial basis, based on a permit issued by the respective authority, cabinet spokesman Rajitha Senaratne said.The proposal was made by President Maithripala Sirisena in his capacity as the Minister of Mahaweli Development and […]
Sri Lanka and Australia to increase trade
July 9, 2015 (LBO) – The Sri Lanka Australia Chamber of Commerce (SLACC) was officially launched at the New South Wales Business Chamber Head Office in Sydney, Australia to increase trade activities between the two countries, a statement said. The SLACC is the first, and only integrated bilateral Chamber umbrella constituted in Australia, to foster […]
Lanka Sathosa to be rescued with Rs7.5bn treasury funding; KPMG to help restructure
June 25, 2015 (LBO) – Lanka Sathosa, a state owned retail store will be given a 7.5 billion rupee bail out from the treasury and audit firm, KPMG has been appointed to look into ways of re-structuring it, a Minister said. “The Finance Minister Ravi Karunanayake had agreed to give 7.5 billion rupees from the […]
Sri Lanka’s EDB to tap Canadian market through increased connectivity
June 19, 2015 (LBO) – Sri Lanka’s Export Development Board (EDB) has partnered with the Trade Facilitation Office of Canada to enhance EDB’s capacity to assist small and medium sized exporters.The Canadian market access and capacity building services program includes Canadian market familiarization tours, market entry study and training programs, the Canadian High Commission said […]
Sri Lanka, Pakistan trade drops by USD100mn in 2014
Jun 08, 2015 (LBO) – The newly appointed Pakistani High Commissioner to Sri Lanka, Syed Shakeel Hussain has expressed concerns over the decrease in trade between the two countries by 100 million US dollars, a statement said. “This is a saddening thing, especially in the backdrop of a Free Trade Agreement existing between the two […]
Ornamental Fish Exports +17% in 2014; Highest ROI In Export Sector
Jun 04, 2015 (LBO) – Sri Lanka’s ornamental fish exports has grown 17 percent in 2014 with the sector showing the highest return on investment in the country’s exports, a senior official said in a statement.“The ornamental fish sector has a great promise for exports growth,” Bandula Egodage, Chairman, Export Development Board said in a […]
Sri Lankan businesses should be cautious when entering Asian markets: Business Executive
May 25, 2015 (LBO) – Sri Lankan businesses should navigate and set up a clear focus before entering Asian markets, a local business executive stressed.Chief Executive Officer of Ceylon Biscuits, Imal Fonseka speaking at the LBR LBO CEO forum said Sri Lankan companies need to figure out ways to reach out to the Asian consumer.“We […]
Sri Lankan businesses should look at CEPA as a compliment not substitute: Economist
May 22, 2015 (LBO) – Sri Lankan businesses should look at the extension of the Comprehensive Economic Partnership Agreement (CEPA) as a compliment to their businesses and not as a substitute, a senior economist said. Razeen Sally, an Associate Professor of Singapore Lee Kuan Yew School speaking at the LBR LBO CEO forum called local […]
Swiss GSP facility is underutilized by Lankan exporters: Envoy
May 21, 2015 (LBO) – Sri Lankan exporters are currently underutilizing the Swiss GSP facility given to the country, a Swiss envoy said. Livia Leu, Ambassador Delegate of the Federal Council for Trade Agreements of Switzerland who visited the Ceylon Chamber of Commerce this week asked Sri Lankan exporters to take maximum use of their […]