Exports in Sri Lanka

Ceylon Cinnamon secures two more int’l trademarks

The Island - 28/02/2014

Mr. Bandula Egodage (Chairman/CEO, EDB)

Ceylon Cinnamon, which is Sri Lanka’s second global brand, has secured its trademark in two more leading markets-with one more country application in the registration process. "I commend the EDB’s Agro division for their efforts on this initiative" said Bandula Egodage (Chairman/CEO, EDB).

Chairman Egodage was addressing the monthly review meeting of EDB on February 27 when he was informed by EDB’s agro division of the latest development on Ceylon Cinnamon.

SL-Iraq trade talks begin in Baghdad

Daily Mirror - 27/02/2014

The latest Sri Lanka-Iraq Joint Committee for Economic Cooperation (JEC) Commenced February 25 in Baghdad, a statement from the Industry and Commerce Ministry said.

“Iraq is certainly an important market for us not only for tea but even for other prospective products. Similarly, there would be good opportunities for Iraq to promote its products using Sri Lanka’s potential,” said Industry and Commerce Minister Rishad Bathiudeen, making his opening remarks at the eighth session of Sri Lanka Iraq Joint Committee for Economic Cooperation (JEC) meeting in Baghdad, heading a 16-member delegation.

Iraq – Sri Lanka trade tops $90 million, up 80 per cent

Lanka Business Today - 26/02/2014

Bilateral trade between Sri Lanka - Iraq has reached $90 million, an 80 per cent increase, and the two countries are aiming to break new ground when the largest joint trade session has begun in Baghdad. OPEC’s second biggest oil power is also ready to channel its Basra Light Crude to Sri Lankan refineries.

”In the past Sri Lanka bought and refined our oil. You can buy our Basra Light brand of crude streams and we are ready to supply them to you as we are a top buyer of Ceylon Tea,” said a confident Ambassador of Iraq in Sri Lanka, Kahtan Taha Khalaf in Colombo last week.

Lankan exporters invited to utilize Pakistan’s GSP Plus with EU

Daily Mirror - 24/02/2014
By Sashi Ratnayake

Pakistan’s High Commissioner to Sri Lanka Major General Qasim Qureshi made an open invitation to Sri Lankan exporters to utilize the current Generalized System of Preferences Plus (GSP) scheme Pakistan enjoys with the European Union (EU) and expand trade between the two countries through the existing free trade agreement (FTA).

“Pakistan’s new GSP plus scheme with the EU is an opportunity for Sri Lankan exporters. For that we should jointly explore whatever is possible within the rules and regulations of the trade concession,” Qureshi said during a discussion held at the National Chamber of Commerce, recently.

Pakistan expects to invest US$ 500 mn in Sri Lanka

Daily News - 24/02/2014
By Indunil Hewage

Pakistan is expected to invest around US$ 500 million in Sri Lanka in the next three years, said Hasan Zaigham, the First Secretary, Pakistan High Commission in Sri Lanka addressing a seminar on Sri Lanka and Pakistan trade, organized by the National Chamber of Commerce in Sri Lanka.

Investments from Pakistan into Sri Lanka have begun to pick up. As of December 2012, the total cumulative investment stood at around US$ 11.9 million and currently Investment of around US$ 233.3 million is in the pipeline.

Lanka, Iraq bilateral trade up by 80% to $ 90 mn

Daily News - 20/02/2014

Rishad Bathiudeen, Minister of Industry and Commerce meets Iraqi Ambassador in Sri Lanka Kahtan Taha Khalaf in Colombo

As bilateral trade topped $90 mn, Iraq and Sri Lanka are aiming to break new grounds when largest joint trade session will commence in Baghdad next week-and OPEC's second biggest oil power is now ready to channel its Basra Light crude to Sri Lankan refineries.

" In the past Sri Lanka bought and refined our oil but has discontinued. You can buy our Basra Light brand of crude streams and we are ready to supply them to you as we are a top buyer of Ceylon Tea," said Iraqi Ambassador in Sri Lanka Kahtan Taha Khalaf yesterday.

Sri Lanka's apparel and textile sector exported a record US$4.3bn in 2013 and its Joint Apparel Association Forum (JAAF) has predicted overseas sales will continue rising this year.

The JAAF president Noel Piyatilake told just-style the industry is targeting an ambitious target of US$6bn in exports by 2020, making Sri Lanka one of the world's top 10 apparel exporting countries.

Piyatilake is also hoping to gain extra leverage from planned trade agreements. "We have made several representations to the Sri Lankan government to explore the option of entering into preferential treatment agreements with several countries including China, Japan, India, Brazil and Russia, which will benefit our sector immensely," he explained.