Category: Trade

Sept 25, 2009 (LBO) – Sri Lankan exporters are not making use of lower import duty market access to China under a regional trade pact owing to lack of awareness and initiative, economists and trade officials said.The preferential trading arrangement, Asia-Pacific Trade Arrangement (APTA), previously called the Bangkok agreement, has helped increase trade between Sri […]

Sept 12, 2009 (LBO) – Sri Lanka should resist calls by special interest groups to increase trade protection and reverse outward oriented policies amid the current downturn, an Australian based economist said. “We all know that the market economy of course combined with the rule of law and civil liberties have obvious advantages assuring tolerable […]

Aug 02, 2009 (LBO) – Sri Lanka may lose lucrative trade concessions to the European Union as the results of an initial investigation on human rights abuses in the country was very adverse, a media report said. EU has banned the Tigers as terrorists but relations with the West deteriorated in the last stages of […]

Aug 23, 2009 (LBO) – Sri Lanka has offered an industrial zone exclusively for Pakistan in a bid to promote inward investment from South Asian and Middle East regions, a media report said. Sayeed was quoted as saying that he will promote Pakistani firms to set up joint ventures in Sri Lanka and promote trade […]

Aug 05, 2009 (LBO) – Sri Lanka will open a consulate in Chengdu, following the opening of a consulate in Shanghai, increasing the island’s diplomatic representation in China, the foreign ministry said. Foreign minister Rohitha Bogollagama who met visiting vice-governor of China’s Yunan province Gao Feng who was accompanied by a trade delegation. Minister Bogollagama […]

July 14, 2009 (LBO) – An international expert has warned Sri Lanka businesses to be more careful of their overseas partners and do background checks as trade fraud and risks grow in the wake of the global financial crisis. Companies engaged in international trade should not rely solely on banks to check the authenticity of […]

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 […]