Category: Trade

July 13, 2009 (LBO) – Sri Lanka’s May 2009 export earnings fell 27.8 percent to 538.5 million US dollars from year ago, mainly because of lower clothing exports, although tea exports went up, the Central Bank said. Imports of consumer goods fell by 41.2 percent to 140 million US dollars, largely on account of lower […]

July 01, 2009 (LBO) – Sri Lanka has welcomed the initiatives taken to promote trade and investment among member states of an Indian Ocean regional grouping, the foreign affairs ministry said in a statement. He also welcomed the initiatives taken by IOR-ARC to promote investment, including the work done towards the implementation of an agreement […]

June 22, 2009 (LBO) – Sri Lanka exports fell 28.2 percent in April to 437.6 million US dollars from a year ago, imports fell 53.2 percent to 604.3 million dollars, shrinking the trade deficit 75.9 percent to 166.7 million dollars, the Central Bank said. In the 4-months to April, exports were down 16.2 percent to […]

June 11, 2009 (LBO) – Sri Lanka’s United Motors Lanka Limited (UMLL) group, agents for Japan’s Mitsubishi lost 90 million rupees in the March 2009 quarter as revenues dropped 13.0 percent to 7.30 billion rupees. For the year to March the firm lost 2.53 million rupees while revenues dropped 13.0 percent to 7.30 billion rupees. […]

May 29, 2009 (LBO) – Sri Lanka’s government said it plans to ask parliament for extra funds to pay for a bailout package to help exporters cope with a downturn in trade caused by recession. Cabinet spokesman media minister Anura Yapa said the cabinet this week had approved the mechanism through which exporters can get […]

May 18, 2009 (LBO) – Sri Lanka’s export earnings in March 2009 fell 7.8 percent to 627 million US dollars from a year-ago although the main exports of garments and tea went up, the central bank said. Exports of textiles and garment rose six percent to 310 million dollars despite recession in key Western markets […]

May 06, 2009 (LBO) – Sri Lanka’s customs department opened a new container inspection facility just outside Colombo near the port which senior officials said would help speed up examination of cargo.The facility, at a sprawling warehouse complex of the government food department next to the railway line, was built by a private firm, Rank […]

SYDNEY, April 26, 2009 (AFP) – Hundreds of Tamil protesters burned Sri Lankan-produced tea and clothes as they marched through central Sydney on Sunday calling for a boycott of goods from the island nation.About 800 demonstrators demanded the Australian government put pressure on Colombo to declare a permanent ceasefire in its campaign against Tamil Tiger […]

April 20, 2009 (LBO) – Sri Lanka’s external trade contracted sharply in February 2009 with the trade gap narrowing 75.5 percent, imports plunging 37.3 percent, exports falling 18.4 percent and remittances also easing 3.8 percent, the Central Bank said. Exports fell to 524.3 million US dollars from 642.6 million US dollars, with tea falling 33.4 […]

April 08, 2009 (LBO) – Sri Lanka’s central bank said it has lifted the 100 percent margin deposit requirement against Letters of Credit for selected categories of vehicle imports from Wednesday. The government is now negotiating with the International Monetary Fund on a bail-out package. The margin was imposed as a monetary policy measure in […]

April 02, 2009 (LBO) – Pakistan has increased the number of products that can be imported from Sri Lanka to 4,000 under the final phase of the free trade deal between the two countries.Exporters can obtain concessions under the FTA from the Department of Commerce which is the authority that is monitoring the implementation of […]

Mar 30, 2009 (LBO) – Sri Lanka’s government recognises private sector fears of non-tariff barriers in bilateral trade deals and will not open up the economy against its wishes, a senior minister said.The free trade deal with India, for instance, recognised the asymmetric character of the economic ties between the two countries given their differences […]