Category: Trade

May 30, 2013 (LBO) – Bicycles made in Sri Lanka, Indonesia, Malaysia and Tunisia with Chinese components have been hit with ‘anti-dumping’ duties by the European Union, a media report said. Bloomberg newswires said EU had determined that bikes with Chinese parts were assembled in several countries including Sri Lanka to avoid a 48.5 percent […]

May 25, 2013 (LBO) – Ceylon Tea is being promoted in China giving a chance for citizens in that country to enjoy the beverage, though freely consuming foreign tea is a liberty that citizens of the island no longer posses. Sri Lanka’s consulate in Shanghai had also had a launched a promotional campaign on tea. […]

May 19, 2013 (LBO) – A delegation of Iraqi officials have called for tighter controls on exports of Sri Lankan tea to stop refuse tea from entering their country and also complained about production processes at factories, the trade ministry said. “We want the bulk tea shipments to Iraq from Sri Lanka well packaged, and […]

May 16, 2013 (LBO) – Sri Lanka’s exports to India have surged under a free trade deal, growing six fold, with the number of items going up four fold to 2,100 but most of the imports to the island take place outside the agreement, economists said.“On average 70 percent of Sri Lanka’s exports to India […]

May 12, 2013 (LBO) – Profits at Singer (Sri Lanka) Plc, a consumer durables retailer fell 51 percent to 174 million rupees in the March 2013 quarter from a year earlier, as interest costs rose and sales slowed. The group reported earnings of 1.40 rupees per share for the quarter. Gross revenues were flat at […]

May 08, 2013 (LBO) – Sri Lanka’s exports fell 2.8 percent to 837 million US dollars in March 2013 from a year earlier, but apparel was up 5.0 percent to 344.5 million US dollars. The Central Bank said remittances fell 3.4 percent to 545.5 million US dollars. When remittances or exports fall, imports will also […]

May 02, 2013 (LBO) – Sri Lanka’s exports fell 2.9 percent to 797.5 million rupees in February 2013 from a year earlier but apparel exports rose 8.8 percent to 371.6 million US dollars, the Central Bank said. Rubber product exports were down 12 percent to 66.1 million US dollars and agricultural exports were down 5.9 […]

Apr 07, 2013 (LBO) – Sri Lanka has asked China to invest in the mineral mining and processing sector for export especially in mineral sands and graphite, the trade ministry said.In recent years Sri Lanka’s Treasury has helped expand the trade gap with China by borrowing heavily from its Exim Bank and others (exporting Sri […]

Apr 02, 2013 (LBO) – Sri Lanka’s exports fell 18.2 percent to 726.7 million US dollars in January 2013 from a year earlier, with apparel exports falling 8.9 percent to 333.9 million US dollars, Central Bank data showed.Sri Lanka has a trade deficit because domestic economic players get money abroad through means other than merchandise […]

Mar 28, 2013 (LBO) – Pakistan’s Arif Habib group which has a stock brokering unit in Sri Lanka is planning to expand into commodities and trade consultancy which can boost bi-lateral trade, an official said.The group has put an application to start a physical wholesale commodity business and bring in one million US dollars. “We […]

Mar 27, 2013 (LBO) – A Chinese delegation led by Yunan province vice governor Ding Shaoxiang is arriving in Colombo today, which will help expand bilateral trade of 2.7 billion US dollars reached last year, the commerce ministry said. “This visit is a strong boost to the growing Lanka-China bilateral trade,” commerce and industry minister […]

Mar 27, 2013 (LBO) – India has raised a quota of Sri Lanka-made apparel and the validity of a sanitary permit for meat had been doubled giving more freedom for Indian nationals to buy goods from the island.Free Trade Agreements were then used to progressively give freedom to the poorer people to trade. Quotas and […]