Category: Trade

Oct 04, 2010 (LBO) – Early issue of export documentation by Sri Lankan authorities could help reduce delays in clearing goods shipped to India under a free trade deal, trade experts and economists told a forum. The Indo-Lanka free trade agreement (FTA) has eliminated or reduced import duties, improving market access for businesses in both […]

Oct 02, 2010 (LBO) – An upgraded free trade deal between India and Sri Lanka can help the island lure more investment from Indian companies who are increasingly venturing abroad, India’s envoy in Colombo said. The two countries need to have agreements that remove bottlenecks to exports by harmonising their testing, certification, quarantine and customs […]

Oct 01, 2010 (LBO) – Using local currencies to trade between India and Sri Lanka could reduce transaction costs and speed up cargo movements, an expert has suggested. “This could lead to win-win situation for both sides and bring down transaction cost and the time taken.” Under British rule the Indian rupee, then specie based […]

Sept 03, 2010 (LBO) – An international gem and jewellery exhibition in Sri Lanka has drawn large groups of buyers from China and Russia which are emerging as important markets, officials said. “The stones have become more attractive and better cut.” Chanaka Ellawala, head of the 20th Facets gem and jewellery show organising committee, said […]

Sept 01, 2010 (LBO) – Protectionist lobbies holding up a new free trade deal with India are putting Sri Lanka at risk of being left out of emerging regional trade blocs and depriving consumers the benefits of free trade, an official said. “Sri Lanka is rather insignificant in the larger calculations of world powers except […]

Aug 20, 2010 (LBO) – The Sri Lankan government is preventing the further appreciation of the rupee against the dollar to support exporters after the loss of a trade deal giving duty free access to the European market, a spokesman said. “We held a number of discussions with manufacturers. After 10 years of tariff preferences […]

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 […]