Category: Trade

Nov 09, 2011 (LBO) – Sri Lankan importers of used Japanese vehicles said they can sell cars for around two million rupees each if allowed to import slightly older vehicles and a tax anomaly removed. Yoga Perera, president of the Vehicle Importers’ Association, said they had asked for the concessions in the government budget that […]

Nov 02, 2011 (LBO) – Investing in better logistics and supply chain management helped Sri Lanka’s Cargills group to reduce wastage and improve efficiency at its Food City supermarket chain. Cargills deputy chairman Ranjit Page said the process ensures prices to consumers remain static and its outlets charge one price throughout the island. Farmers get […]

Oct 24, 2011 (LBO) – Sri Lanka’s exports rose 19.1 percent to 951.7 million US dollars in August, while imports rose 66. 5 percent to 1.83 billion US dollars expanding the trade gap 191 percent to 885 million US dollars. “The exports growth in August was mainly driven by industrial exports where significant contributions came […]

Oct 22, 2011 (LBO) – President Barak Obama has signed a law extending temporarily halted generalized system of preferences (GSP) trade concessions to Sri Lanka till July 31, 2013 the US embassy said. More information could be found at the Customs and Border Patrol website, the embassy said. The concessions will become effective from November […]

Oct 19, 2011 (LBO) – Trade preferences given to Sri Lanka will be extended until the end of 2013 helping more than 200 million dollars of exports to enter the United States with no import duties, the island’s commerce department said. The statement said a bill to resume the preferences is expected to be signed […]

Oct 19, 2011 (LBO) – A 20 member Sri Lanka business delegation will visit Vietnam in November to promote trade between the two nations focusing on the agriculture, textile and apparel sectors, a trade chamber said. “Discussions have been held between the Vietnam embassy and two airlines, and there has been a positive response, an […]

Oct 18, 2011 (LBO) – A stalled comprehensive economic partnership agreement (CEPA) between India and Sri Lanka does not include freeing of professional services, as had been claimed by its critics as a scare tactic, an economist said. “In CEPA professional liberalization is not there, I think this is a misconception,” Saman Kelegama from the […]

Oct 15, 2011 (LBO) – Sri Lanka and Vietnam will begin talks on trade liberalization aiming to expand two way trade over 10 fold to a billion US dollars over the next few years, a joint communiqué following visit by President Truong Tan Sang said. Vietnam also sells textiles for Sri Lanka’s apparel trade. No […]

Oct 12, 2011 (LBO) – Sri Lanka will host the Asia Pacific Trade Facilitation Forum (APTFF), a platform to promote regional trade and share information, Ceylon Chamber of Commerce said. “South Asia is a region that has many benefits to reap through improved trade facilitation,” the Chamber said in a statement. “This region still remains […]

Sept 27, 2011 (LBO) – Sri Lanka’s exports rose 9.4 percent to 958 million US dollars in July 2011 from a year ago although earnings from tea, its main agricultural export fell, the central bank said. Spending on imports shot up 58 percent to 1. 78 billion US dollars in July from the year before, […]

Aug 29, 2011 (LBO) – Sri Lanka’s June 2011 exports rose 32 percent to 816 million US dollars from a year ago helped up strong growth in shipments of apparel as well as tea and rubber, the central bank said. Imports in June 2011 shot up 50 percent to 1.7 billion US dollars with a […]

Aug 02, 2011 (LBO) – Singer Sri Lanka, a top consumer durables retailer said profits rose 79.9 percent in the June 2011 quarter from a year earlier as sales grew rapidly after the state cut taxes on electrical home appliances. The firm reported earnings per share of 2. 34 rupees for the quarter. Revenues in […]