Category: Trade

Dec 18, 2012 (LBO) – Sri Lanka’s food exporters to the US should renew their registrations with the Food and Drug Administration quickly to avoid prohibition, the island’s embassy in Washington said. The embassy said under a food safety law (Food Safety Modernization Act) foreign firms also have to designate a US agent to communicate […]

Dec 11, 2012 (LBO) – India is mulling asking Sri Lanka to reduce import duties which had been raised twice last year hitting small car imports and three wheeler vehicles in particular, a media report said. Another report said Chinese manufacturers are being allowed to set up assembly plants in Sri Lanka which could potentially […]

Dec 06, 2012 (LBO) – Sri Lanka’s exports slipped 13. 4 percent to 770.4 million US dollars in October from a year earlier, with tea being hit by Middle East tensions with apparel falling amid weak demand, the Central Bank said. “Given the slowing down of global demand, exports of industrial exports continued to decline […]

Dec 01, 2012 (LBO) – Sri Lanka’s fruit and vegetable exports are expected to grow between three to five percent in 2012 after growing 10 percent in 2011, despite a global downturn that had dragged down total exports an industry official has said. Sri Lanka’s overall exports were down 5.8 percent to 7.39 billion US […]

Nov 29, 2012 (LBO) – Sri Lanka will soon have ‘zero time’ customs with an automated customs clearing process to begin up to 24 hours before a vessel docks at port, Customs chief Neville Goonewardena said. Sri Lanka is implementing the latest version of Automated System for Customs Data promoted (ASYCUDA World) initiated by the […]

Nov 21, 2012 (LBO) – Sri Lanka’s economic development minister Basil Rajapaksa will lead a delegation to India’s ‘Partnership Summit’ to be held in Agra in January, India’s high commission (embassy) said after a business delegation visited the island. Godrej had said that Indian companies could use to set up priority industries like pharmaceuticals, IT […]

Nov 20, 2012 (LBO) – The Imports Section of Sri Lanka’s Ceylon Chamber of Commerce will have its annual fellowship on Wednesday 28, with two senior government officials relating to international trade participating. The chief guest will be Neville Gunawardena, director general of Sri Lanka’s Customs office and P D Fernando, director general of Sri […]

Nov 18, 2012 (LBO) – A delegation of rubber industrialists who visited Norway are expecting an expansion of business including the development of new products, Sri Lanka’s Ceylon Chamber of Commerce said. The visit has opened the doors to the technical Rubber products market in Norway and are confident that they could meet the stringent […]

Nov 05, 2012 (LBO) – Sri Lanka’s exports fell 6. 6 percent to 801.5 million US dollars in September 2012 from a year earlier while imports fell at a faster 25.4 percent to 1.31 billion US dollars, official data showed. Sri Lanka ran into a balance of payments crisis from mid 2011 when authorities printed […]

Nov 01, 2012 (LBO) – Reducing red tape and adopting paperless systems will improve competitiveness of South Asian countries whose intra-regional trade costs are almost 50 percent higher than those of East Asia, a UN trade official said. And getting importers and exporters involved in designing such systems is essential as government initiatives without private […]

Oct 29, 2012 (LBO) – A trade forum in Sri Lanka with the participation of 30 countries in Asia and the Pacific starting will identify priority areas for integration, and new tools and services to increase the efficiency of cross-border transactions, its organizers said. The Asia Pacific Trade Facilitation Forum 2012 (APTFF) on the theme […]

Oct 25, 2012 (LBO) – Sri Lanka’s exports fell 13. 1 percent to 828.9 million US dollars in August 2012 from a year earlier led by tea, while imports fell 4.7 percent to 1,750 million US dollars, official data showed. Tea exports fell 32.7 percent to 95.7 million US dollars and apparel exports fell 3. […]