Category: Trade

Sept 20, 2012 (LBO) – India will increase a garment import quota by three million pieces a year to eight million without a sourcing requirement being imposed on Sri Lanka, the island’s industry ministry said citing a statement by a visiting Indian official. India and Sri Lanka has a free trade agreement through which nationalist […]

Sept 12, 2012 (LBO) – Sri Lanka’s exports fell 17. 4 percent to 794.4 million US dollars in July 2012 from a year earlier, imports fell 24. 9 percent to 1,329.1 million US dollars and the trade gap fell 33.88 percent to 534.6 million US dollars, the Central Bank said. Sri Lanka’s exports were contracting […]

Sept 07, 2012 (LBO) – Sri Lanka and South Africa has potential to further increase trade links, deputy economic development ministry Lakshman Yapa Abeywardene told a business forum attended by a visiting business delegation. He said South Africa belonged to the so-called BRICS group of countries with Brazil, India and China which together now accounted […]

Sept 07, 2012 (LBO) – Sri Lanka’s largest trading partner, the United States is keen to boost investment in the island and attract more Sri Lankan exports, the American chamber of commerce in Sri Lanka (AMCHAM) said. “The US has expressed its desire to increase more FDI (foreign direct investment) flows to Sri Lanka and […]

Sept 06, 2012 (LBO) – Two way trade between Sri Lanka and Vietnam reached 64 million US dollars in the first six months of the year, up 51 percent from a year earlier, Hanoi’s envoy to Colombo Ton Sinh Thanh said. “It is estimated that in the first nine months, the total trade between the […]

Sep 04, 2012 (LBO) – BPL Teas (Pvt) Ltd, a tea marketing unit of Sri Lanka’s Metropolitan group Bogawantalawa Estates Plc, has started making profits, chairman D J Ambani told shareholders. The tea growing parent firm said it lost money in tea with a 365 million rupee loss for the year partly due a steep […]

Aug 27, 2012 (LBO) – An exporter of branded teas that has catered to emerging global consumer needs has warned that nationalism and protectionism in tea was losing Sri Lanka an opportunity to play a bigger role in the global tea industry. He said demands to ban such an export hub will require Sri Lankans […]

Aug 24, 2012 (LBO) – Sri Lanka’s HVA Foods, a branded tea producer and exporter said a franchise tea café network in China had expanded to 25 in the past year, while the firm was also researching new forms of delivering tea to customers. First established in 2009, the franchise network grew to 20 by […]

July 30, 2012 (LBO) – India Show, an exposition of Indian business in Colombo to be held from August 03 has drawn over 100 exhibitors which will give a chance for the two countries to boost trade and investment as well as influence policy, officials said. “We hope this will be a platform to build […]

July 29, 2012 (LBO) – Sri Lanka’s fledgling rice exporters could still ship rice under some restrictions, including a minimum price and there was no blanket ban, a minister said. The notice said ‘specific varieties of rice” targeted at export markets could be shipped with export licenses. Sri Lanka’s state can restrict citizens from importing […]

July 27, 2012 (LBO) – A contraction in Sri Lanka’s apparel exports, especially to the European Union could have been compounded by tariff preferences to Europe withdrawn due to bad governance, an opposition legislator has said. Data Concerns De Silva said there were problems with Sri Lanka’s economic data. In 2011 the Central Bank has […]

July 25, 2012 (LBO) – Sri Lanka external trade continued to contract in May with exports falling 15. 1 percent to 710.1 million US dollars and imports easing 6.4 percent to 1,575 million dollars, official data showed. The Central Bank said industrial exports fell 16. 2 percent to 636 million US dollars with apparel falling […]