Lanka closely monitoring EU's trade policy - Rishad

Asian Tribune - 08/05/2014

David Daly (Ambassador of the EU Delegation to Sri Lanka and Maldives-left) discusses with Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) at the second EU-Sri Lanka Trade Dialogue session on 07 May in Colombo.

As trade between Sri Lanka and its top global partner EU edged to $ 5 Bn mark, Sri Lanka for the first time revealed its levels of attention to the EU trade dynamics on 07 May. And Europe has commended Sri Lanka's exports value addition efforts as "remarkable."

“Sri Lanka closely monitors the developments in the EU trade policy as it could have significant impact on Sri Lanka’s exports, both directly and indirectly. For example, the recent cross cumulation facility provided for SAARC and ASEAN Regional Groups, would help Sri Lanka to source inputs of ASEAN countries, and be eligible for GSP concessions” said Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka on 07 May.

Sri Lanka: Trade deficit narrows, export earnings rise

The Times of Sri Lanka - 05/05/2014

The external sector further strengthened in February 2014 with the trade deficit continuing to narrow as a result of an increase in earnings from exports and a decline in expenditure on imports.

Inflows on account of workers' remittances and earnings from tourism recorded an increase during the month contributing to the substantial reduction in the current account deficit. These developments together with continued inflows to the financial account resulted in a surplus in the Balance of Payments (BOP) upto February 2014, the Central Bank said yesterday.

Sri Lanka's textile & garment exports grow 6.6% in Feb'14

Fibre2Fashion - 06/05/2014

Sri Lanka’s earnings from exports of textiles and garments grew by 6.6 percent to US$ 396.2 million in February 2014, compared to earnings of $371.6 million recorded in same month last year, according to a press release on ‘External Sector Performance – February 2014’ issued by the Economics Research Department of the Central Bank of Sri Lanka.

The statement reflected two key trends in Sri Lanka’s textile and garment trade—an increase in apparel exports to non-traditional markets and a higher local value addition in the clothing industry.

Africa’s Switzerland hunting for Sri Lanka trade for the first time

Asian Tribune - 06/05/2014

Bothata Tsikoane, the New Delhi based High Commissioner of Lesotho (left) discusses with Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka-right) on 25 April in Colombo.

The only country in the world to be entirely surrounded by another country and also called as Africa’s Switzerland, signaled on 25 April for the first time that it is now ready to initiate multi-faceted bilateral ties with Sri Lanka. “We can begin our bilateral trade with Ceylon Tea exports to Lesotho. Then we can proceed to agriculture cooperation” said an upbeat Bothata Tsikoane, the New Delhi based High Commissioner of Lesotho for Sri Lanka on 25 April in Colombo.

Bothata Tsikoane was addressing Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) on 25 April at EDB in Colombo during his first courtesy call made on Minister Bathiudeen.

Lesotho to begin economic ties with tea, rice imports

Lanka Business Today - 05/05/2014

The only country in the world to be surrounded by another country and also described as Africa’s Switzerland, is now to initiate multi-faceted bilateral ties with Sri Lanka.

“We can begin our bilateral trade with Ceylon Tea exports to Lesotho. Then we can proceed to agriculture cooperation” said an upbeat Bothata Tsikoane, the New Delhi based High Commissioner of Lesotho for Sri Lanka.

The Lesotho envoy made these observations while meeting Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka on 25 April at the Export Development Board offices in Colombo during his first courtesy call made on Minister Bathiudeen.

Sri Lanka exports up 5.4-pct in February, imports fall

Lanka Business Online - 05/05/2014

Sri Lanka's exports rose 5.4 percent in February 2014 from a year earlier, with apparel exports up 6.6 percent, while imports fell amid weak credit growth, official data showed.

In the first two months of the year exports were up 13.9 percent to 1,739 million US dollars, the Central Bank said.
Agricultural exports rose 15.3 percent to 201.2 million US dollars with tea up 11.7 percent to 115.6 million US dollars.

Fadna Cinnamon Tea gets certification of Pure Ceylon Cinnamon

Daily Finance Times - 05/05/2014

The Fadna Cinnamon Tea, produced and distributed by Food and Nature Company was recently awarded the Pure Ceylon Cinnamon Quality certificate by Sri Lanka Export Development Board. This certification which is awarded only for highest quality export products is granted on the recommendation of a committee of experts appoined by the SLEDB. Here Minister of Industries and Commerce Rishard Bathiudeen awards the certificate to the Marketing Manager of the Food and Nature Company, Udara Mangala at a ceremony at the SLEDB