Category: Trade

Feb 16, 2010 (LBO) – Sri Lanka is to start test runs on extending to several government agencies a long-delayed automated documentation system for trade that allows cargo to be cleared electronically, officials said. We appeal to all other government departments to follow the Tea Board, said Athukorala. Tea exporters are saving 2.50 dollars per […]

Feb 15, 2010 (LBO) – Sri Lanka intends to cut automated tea export document processing charges, reducing costs for shippers of the island’s main export commodity and making them more competitive, officials said. Sri Lanka’s electronic export documentation project is, however, years behind schedule and exporters say the island is far behind other trading nations […]

BRUSSELS, February 5, 2010 (AFP) – EU nations have decided to suspend Sri Lanka’s preferential trade status because of the island’s human rights record and will make the formal move later this month, officials said Friday. “European ambassadors have taken the decision. The EU Commission’s investigation showed Sri Lanka has not demonstrated that it has […]

Jan 20, 2009 (LBO) – Sri Lanka’s exports fell 5.0 percent in December from a year earlier, with industrial exports falling 12.2 percent, though agricultural exports were up 23.7 percent, the Central Bank said. During the 11 months to November exports were down 14.7 percent to 6,361.1 million US dollars, imports were down 31. 9 […]

Jan 05, 2010 (LBO) – Tea imports for re-export by Sri Lanka, a major exporter, fell sharply last year as opposition by producers to importing teas remained strong, Tea Board and industry officials said. Tea Board officials said pressure by the producer sector on the regulator led to more stringent checks on imported teas which […]

Jan 04, 2010 (LBO) – Sri Lanka’s Central Bank is setting up an export-import bank to fast-track Sri Lanka’s international trade, governor Nivard Cabraal said. The proposed ˜ex-im bank’ will have an initial capital of 200 million rupees and may be financed by both government and commercial sources. “It will provide financial assistance to exporters […]

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 “We will not be held back by threatened economic sanctions or withdrawn trade concessions by those who seek strategic interference in the national affairs of […]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 […]