Category: Trade

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 […]

March 18, 2009 (LBO) – Sri Lanka’s trade deficit contracted by 66.5 percent in January 2009 from a year ago to 208 million US dollars as exports and imports fell sharply, the central bank said.Private remittances also fell, largely owing to the strength of the dollar, it said, but exports of apparel, a key industry, […]

Feb 23, 2009 (LBO) – Chinese businesses are eying Sri Lanka’s regional and international trade concessions and strategic geographical location as a window into European Union and other Asian markets, a visiting Chinese trade official said. “The geographical location of Sri Lanka is good. It can be used as a window into other Asian and […]

Feb 19, 2009 (LBO) – Sri Lanka’s total exports in December 2008 fell 19.1 percent to 681 million dollars from a year ago, dragged down by a sharp fall in its main product tea, as well as garments, the central bank said.“The performance of agricultural and industrial exports appears to have been affected by the […]

Jan 07, 2009 (LBO) – Sri Lanka’s exports in November 2008 rose 11.6 percent to 645 million dollars from a year ago, led by industrial exports, especially garments, but tea and rubber export earnings slumped, the central bank said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 […]

Dec 11, 2008 (LBO) – Sri Lanka’s export earnings in October grew 5.9 percent to 661.2 million US dollars from a year ago led by agriculture and apparel, recovering from a fall in September, the Central Bank said.Growth in imports slipped below 20 percent in October for the first time in 2008 after several months […]

Dec 11, 2008 (LBO) – The European Commission has listed Sri Lanka among countries to which it is extending from next year the GSP Plus duty free trade deal but subject to the eventual outcome of an eligibility probe. Trade experts said the listing, which had earlier been expected only by December 15, means Sri […]