Category: Trade

January 1, 2010 (AFP) – Sri Lanka’s president on Friday dismissed the European Union’s suspension of preferential trade status to the island, saying his government would resist foreign “strategic interference”. “We will not be held back by threatened economic sanctions or withdrawn trade concessions by those who seek strategic interference in the national affairs of […]

JAKARTA, December 30, 2009 (AFP) – China and Southeast Asia establish the world’s biggest free trade area (FTA) on Friday, liberalising billions of dollars in goods and investments covering a market of 1.7 billion consumers. Eight years in the making, the ASEAN-China FTA will rival the European Union and the North American Free Trade Area […]

Dec 22, 2009 (LBO) – Sri Lanka’s exports in October fell five percent from a year ago, the lowest decline so far this year, dragged down mainly by lower apparel exports, although tea exports were up, the Central Bank said.But the export recovery which began in April after last year’s slump is continuing, despite a […]

Dec 17, 2009 (LBO) – The European Union will recommend suspending a trade deal giving duty free access to Sri Lankan exports but hopes to reverse the decision following talks with the island’s government, its envoy said. European Union ambassador Bernard Savage said the European Council, its decision-making body, will “logically have to recommend suspension” […]

GENEVA, December 2, 2009 (AFP) – Twenty-two developing and poor countries including emerging giants India and Brazil, on Wednesday agreed on a deal on cutting tariffs on the sidelines of a World Trade Organization meeting. “This is a very important step in south-south cooperation,” said Jorge Taiana, Argentinian Foreign Minister, who chaired the group. Under […]

GENEVA, November 29, 2009 (AFP) – Over 100 developing countries called Sunday for an “urgent” conclusion of negotiations for a world trade liberalisation pact, a day before a key World Trade Organisation ministerial conference.“The ministers of the G20 called for urgent action on the Doha Round,” according to a statement issued by G20 major developing […]

Nov 30, 2009 (LBO) – High import tariffs maintained by Sri Lanka not only deter investors but also hurt the poor, the American envoy to the island has said.High import tariffs and an economically-damaging tax system hurt not only individual companies, but economic growth in general, said US ambassador Patricia Butenis. “If a company here […]

Nov 25, 2009 (LBO) – Sri Lanka’s exports fell 12.8 percent in September 2009 but imports fell at a steeper 36.1 percent shrinking the trade deficit 62.2 percent to 220.4 million US dollars, the Central Bank said. Remittances and net inflows of capital help expand the trade deficit while central bank’s contractionary sterilization activities which […]

November 7, 2009 (AFP) – A top French envoy Saturday asked Sri Lanka to end its state of emergency and probe war crimes ahead of a key European Union ruling on trade concessions to the troubled island. Ambassador for Human Rights, Francois Zimeray, said he hoped Colombo will signal the ending of its war with […]

Nov 07, 2009 (LBO) – A trade portal launched for the south Asian region should improve trade within the region and especially help small businesses, the Ceylon Chamber of Commerce said in a statement. The portal www.saarctrade.info – gives importers, exporters and small and medium-sized enterprises (SMEs) of the South Asian region access to important […]

Oct 23, 2009 (LBO) – A European Parliament resolution that was critical of Sri Lanka’s human rights record dropped a reference to the GSP Plus trade deal giving duty free access to the island’s exports to European Union markets.The future of the GSP deal is in doubt after a European Commission report earlier in the […]

Oct 23, 2009 (LBO) – Iraq has issued a tender for 15 million kilos of packed black tea but Sri Lankan exporters are disadvantaged by high prices of Ceylon teas and payment problems, a broker said. But the deficit is still 42 million kilos compared with the output in 2008. The global tea tea production […]