Exports in Sri Lanka

Lanka’s export revenue to reach US$ 11 billion mark

Daily News - 08/11/2013
By Indunil Hewage

Sri Lanka’s total export revenue is expected to reach US$ 11 billion mark by the end of this year, Export Development Board Chairman and CEO Bandula Egodage said

-“This is not an easy task, but we hope to reach the $ 11 billion export revenue mark by end of this year. As of September our total export value for 2013 is recorded at US$ 7314 million, which is a 1.07% increase in comparison to the same period in 2012. Our exports are now gradually strengthening despite the international market challenges. We have also set an export target of US$ 15 billion by 2015 and $ 20 billion by 2020. Apparel and tea exports currently account for over 40% and 20% of total exports from Sri Lanka respectively.

SL-B’desh mull formulating PTA

Daily Mirror - 05/11/2013

Sri Lanka and Bangladesh will begin formulating a preferential trade agreement (PTA) between the two countries subsequent to the completion of the Commonwealth Heads of Government Meeting (CHOGM), with a view to developing into a free-trade agreement (FTA) in future, according to Bangladesh High Commissioner to Sri Lanka Mohammad S. Rahman.

“The current quantum of bilateral trade between Sri Lanka and Bangladesh is still relatively low at approximately US $ 9 million.

However, there is a lot of potential to improve this figure. We hope to establish a PTA once the CHOGM is completed, which can eventually be developed into a fullyfledged FTA in future,” he stated.

Reflection of Sri Lanka Promotional Video

Ornamental live fish exports –National Priority Needed

Asian Tribune - 03/11/2013
By T.K.Premadasa

The notable feature of our exports during the last few years was the decline in exports, an ominous signal to the economy. The reason behind this decrease was the local and foreign market factors such as high cost of production, lack of strategic strength, non-preference by Western countries and economic crises in the occidental world.

Major products manufactured in Sri Lanka which took take the precedent role in its contribution to the export trade also shown decline trend. Under this situation, the export of fresh and marine water ornamental fish have significantly maintained export strength except 2012 and now showing nearly 20 % increase of its export in 2013 up to August compare to the previous year.

Sri Lanka identifies key investment projects for Commonwealth Business Forum participants

The Colombo Page - 03/11/2013

Sri Lanka has identified several key areas for investment opportunities to offer to the attendants of the Commonwealth Business Forum (CBF) that will coincide with the Commonwealth Heads of Governments Meeting (CHOGM) scheduled to be held in Sri Lanka from 15th to 17th November, 2013.

The Commonwealth Business Forum will be held from 12th to 14th November at the Hotel Cinnamon Grand in Colombo.

The Forum, organized by the Commonwealth Business Council (CBC) in collaboration with the Sri Lankan government, is seen as a great opportunity for Sri Lanka to enlighten the world about the investment potentials in the island.

Sri Lanka-China FTA not a blindsided rush- Minister Bathiudeen

nation.lk - 03/11/2013

Rishad Bathiudeen and CNCI delegation at the Ministry of Industry and Commerce on October 31. Gamini Gunasekara (new Chairman, CNCI) is seated second from left next to Minister Bathiudeen

Forthcoming FTA with China is not a blindsided move but is a process involving studies and even relevant stakeholder consultations. “We are still at initial study phase and we will not finalize product lists without consulting Lankan stakeholders such as various chambers and industries,” assured Minister of Industry and Commerce of Sri Lanka Rishad Bathiudeen to the oldest Industry Chamber in the country on October 31 in Colombo.

Minister Bathiudeen was addressing a delegation led by new Chairman, CNCI Gamini Gunasekara on October 31 at the Ministry of Industry and Commerce. Also taking part were Secretary, Ministry of Industry and Commerce Anura Siriwardena and additional secretaries, officials of Department of Commerce and CNCI officials.