Category: Trade

DANKOTUWA, August 15, 2010 (AFP) – Sri Lankan exporters braced for hard times as the EU’s withdrawal of import concessions took effect Sunday after Colombo’s refusal to allow scrutiny of its human rights record. Sri Lanka has long been a preferred source for top high streets brands and its garment, china and other exports enjoyed […]

Aug 03, 2010 (LBO) – Sri Lanka’s exports in May 2010 rose 15 percent to 620 million US dollars from a year ago, helped by industrial exports, mainly apparel, and tea, the central bank said. Exports of apparel, the island’s main industrial export, rose 11 percent to 263 million dollars in May 2010 from the […]

July 31, 2010 (LBO) – Sri Lankan exporters have urged the government not to allow the rupee to appreciate as it would erode their competitiveness. Exporters’ Association chairperson Nirmalie Samarathunga said they were bracing for the loss of duty free market access to Europe after a trade deal with the European Union ends in August. […]

July 30, 2010 (LBO) – Japan is willing to consider a request by Sri Lanka for a free trade deal between the two countries, a foreign affairs ministry statement said. Japan has also been one of Sri Lanka’s biggest donors and lenders, helping to fund infrastructure like ports and highways. “The government of Japan will […]

July 23, 2010 (LBO) – Sri Lanka could lose more opportunities to access India’s huge market owing to delays in striking a new economic partnership deal with her neighbour, the Indian envoy in Colombo has warned. An existing free trade deal between the two countries has led to a sharp increase in trade that could […]

July 14, 2010 (LBO) – The Council for Business with Britain (CBB) made up of firms doing business with the UK is expecting more business volumes between the two countries with the end of a three decade long war. “As patron of the CBB, I am pleased to support this group in their on-going efforts […]

July 08, 2010 (LBO) – The end of a trade deal giving duty free market access to Europe will not be a ‘catastrophe’ though it would squeeze already thin profit margins, an industry official said. A Sukumaran, a clothing exporter who is chairman of the Joint Apparel Association Forum, an industry body, said they were […]

BRUSSELS, July 5, 2010 (AFP) – The European Union decided Monday to withdraw trade concessions in August granted to Sri Lanka after the government failed to make a written commitment to improve its human rights record. Government forces have been accused of a host of rights violations including the indiscriminate killing of thousands of Tamil […]

July 04, 2010 (LBO) – Sri Lanka may lose around 500 million US dollars in apparel exports a year, due to the end of trade concessions from the European Union from August, a media report quoting an industry official said. Sri Lanka’s apparel exports to the United States have been declining steadily over the last […]

July 01, 2010 (LBO) – The United States will review trade concessions granted to Sri Lanka under its Generalized System of Preferences (GSP) affecting 116 million US dollars of goods exported by the island, the US embassy in Colombo said. Other criteria included measures against child labour, and occupational safety and health, work hours, minimum […]

June 24, 2010 (LBO) – The Sri Lankan government has rejected conditions imposed by the European Union to extend the GSP Plus trade deal giving exporters duty free access to EU markets, a spokesman said. He said the government wants the GSP Plus to be extended unconditionally. If not the government is ready to look […]

June 22, 2010 (LBO) – The European Union will not unconditionally extend the GSP Plus trade deal giving Sri Lankan exporters duty free access to European markets, the EU Delegation in Colombo said. The EU is ready to extend the GSP Plus deal for a limited period when it is set to end on August […]