Category: Trade

Sept 04, 2013 (LBO) – Trade between Sri Lanka and Vietnam has risen 20 percent in the first half of 2013, Hanoi’s envoy to Colombo Ton Sinh Thanh said.Sri Lanka’s minister of justice Rauf Hakeem and Petroleum Industries minister Anura Yapa had also visited Vietnam. “Trade volume between the two countries in the first six […]

Aug 30, 2013 (LBO) – Sri Lanka has probably overreacted in its response to stories of contaminated milk imported from abroad, information minister Keheliya Rambukwelle said.A trade union went to courts and got an order halting the sales of Fonterra products, and nationalists protested in front of its factory in Sri Lanka, leading to the […]

Aug 23, 2013 (LBO) – Sri Lanka’s Industrial Technology Institute said stocks of New Zealand milk held at port are free of a chemical contamination according to its tests, and will continue to test other batches of imports.. ITI chief Sirimal Premakumara said dicyandiamide (DCD) contamination was found in two stocks of Anchor branded and […]

Aug 22, 2013 (LBO) – Sri Lanka’s exports rose 6.8 percent to 807.4 million US dollars in June 2013 from a year earlier with apparel exports up 14.9 percent to 356.8 million US dollars, official data showed.In the six months to June exports dropped 4.5 percent to 4.66 billion US dollars, imports dropped 5.8 percent […]

July 31, 2013 (LBO) – Sri Lanka has declared two seaports as ‘free ports’ and an airport and two export processing zones as bonded areas, for entrepot trade and off-shore business.Colombo and Hambantota ports have been declared as free ports. Export processing zones in Katunayake by the main international airport and Koggala and the second […]

SAN FRANCISCO, July 22, 2013 (AFP) – A study released on Monday showed that Internet-powered shopping across national borders has created “modern spice routes” holding wealth for local merchants who tap into the booming trend. Hong Kong, Canada, Australia, Germany, China, Britain and the United States will see a combined total of $105 billion in […]

July 19, 2013 (LBO) – Sri Lanka’s exports fell 1.5 percent to 793.9 million US dollars in May 2013 from a year earlier, but apparel exports rose 2.1 percent to 318.9 million US dollars, official data showed. Agricultural products exports fell 6.8 percent to 197.9 million US dollars in June from a year earlier, rubber […]

July 12, 2013 (LBO) – Sri Lanka is planning an export fair to showcase its products and services to the world in August 2014, and has appointed a high level panel to take it forward, the ministry of industry and commerce said. The fair will target buyers outside traditional market in EU and North America. […]

July 11, 2013 (LBO) – Sri Lanka has to build capacity opportunities to be a processed food exporter, taking a cue from developments that occurred in East Asian nations such as Thailand and Vietnam, an Australia-based economist said. Prema-chandra Athukorale, professor of economics at Australian National University said in Thailand 23 percent of non-oil exports […]

July 10, 2013 (LBO) – Sri Lanka is in talks with China and Japan to sign free trade deals which will give more opportunities for exporters, Treasury Secretary P B Jayasundera told an economic policy forum.Sri Lanka has started to export solar panels to Japan. Existing deals with India and Pakistan will also be deepened, […]

WASHINGTON (AFP) – The United States withdrew key trade privileges from Bangladesh Thursday, citing dangerous conditions for workers in the wake of a factory building collapse that killed over 1,100 people. The collapse was by far the worst disaster ever in the global textiles industry, leaving 1,129 people dead and shocking many used to the […]

June 27, 2013 (LBO) – Japan’s ITOCHU Corporation is looking at expanding trade and investment in banana and tuna fishing in the island, Sri Lanka’s economic development ministry said.The ministry said Kouhei Watanebe, Chairman, Japan – Sri Lanka Business Co-operation Council and adviser to ITOCHU Corporation had had talks with economic development minister Basil Rajapaksa […]