Archives Trade News

Export or perish?

Daily News / Wednesday, 31 December 2008

Export or perish has been the slogan since the Sri Lankan economy was liberalized in the last quarter of the century or so and the Sri Lankan apparel industry has made vast strides in exports mainly to the US and the European markets.

The apparel industry made a very valuable contribution to the industrial export of the country and also provided valuable employment opportunities both in the rural and urban areas in particular. More>>

Loans for tea smallholders

Ramani Kangaraarachchi

Daily News / Wednesday, 31 December 2008

The Government has agreed to give a working capital loan for tea industrialists in the private sector to overcome difficulties due to the existing crisis. This decision was taken following the meeting held between President Mahinda Rajapaksa and the stakeholders of the industry on Monday. More>>

Agriculture base saved Lanka

Hiran H. Senewiratne

Daily News / Wednesday, 31 December 2008

Sri Lankan economy is resilient to the global financial recession due to the strong agricultural base in the country, Associate Professor and Director, International University of Japan Prof N.S.Cooray said. More>>

Float SL rupee, says exporters

Daily News / Wednesday, 31 December 2008

Sri Lanka Garment Buying Offices Association (SLGBOA) and the Sri Lanka Chamber of Garment Exporters (SLCGE) have appealed to the Monetary Authorities to allow the Sri Lankan rupee to a realistic level so that garment exports and imports in general could remain competitive.

Sri Lanka’s competitors India, Bangladesh and China have floated their currencies to realistic levels posing a threat to our garment exports, they point out. More>>

Record progress in gem and jewellery exports

Daily News / Friday, 26 December 2008

Despite the current worldwide economic recession Sri Lanka has been successful in earning a record income of Rs. 54.44 billion upto November 2008, even more than the total income of Rs.51.88 billion for 2007 - which was that year's highest national income from exports, according to National Gem and Jewellery Authority Chairman Hasitha Tillekeratne. More>>

Dankotuwa eyes Indian market

Ravi Ladduwahetty

Daily News / Friday, 26 December 2008

Top tableware manufacturer Dankotuwa Porcelain PLC will make giant inroads into the Indian hotel and resorts market in a bid to circumvent losses arising from the traditional European and American markets. More>>

Sea Port to boost export goods

Raja Waidyasekera Tissamaharama special corr.

Daily News / Thursday, 25 December 2008

The dream of the founder of DSI group to export shoes from Galle harbour was not possible due to various reasons said the Managing Director DSI group of companies Kulatunga Rajapaksa.

He was addressing a seminar at the Tzuchi National School auditorium to educate would be exporters of Hambantota district on the export of export oriented products. Managing director DSI said that with the setting up of the Hambantota Sea Port that dream will become a reality. The export activities in Hambantota district are progressing due to the boost given by the Export Development Board. More>>

Gem and Jewellery record significant growth

The Island / Thursday, 25 December 2008

Despite the current worldwide economic recession Sri Lanka has been successful in earning a record income of Rs. 54.44 billion up to November 2008, even more than the total income of Rs.51.88 billion for 2007 – which was that year’s highest national income from exports, according to National Gem and Jewellery Authority Chairman Hasitha Tillekeratne. More>>

Exports increased by 6% up to October - Prof. G.L. Peiris

Daily News / Monday, 22 December 2008

Exports from Sri Lanka had increased by six per cent up to last October while all imports had come down by 10 per cent, which in turn, had resulted in an increase of income for the people and a corresponding decrease in expenditure, Minister of Export Development and International Trade Prof. G.L. Peiris citing Central Bank reports. More>>

Tea prices to recover

Ravi Ladduwahetty

Daily News / Monday, 22 December 2008

Sri Lanka’s tea exports expected to recover by February 2009 with the nett sale averages are expected to raise to Rs. 270 per kilo vis a vis the present Rs. 220. More>>

Sri Lanka-Nepal:

Business leaders share experiences

Daily News / Monday, 22 December 2008

Representatives from the Business for Peace Alliance, BPA, Sri Lanka’s network of regional business chambers committed to regional empowerment, national unity and CSR participated in an exchange programme with business leaders engaged in fostering in economic growth, peace and stability in Nepal. More>>

War to end in 2009
Development of tourism industry will boost handicraft sector

By Don Asoka Wijewardena

The Island / Monday, 22 December 2008

"President Mahinda Rajapaksa who had taken up a number of challenges in his political career has been able to win his goals in the midst of opposition. When a country is faced with a war, industrial sector becomes stagnant. In 2009 the war will end and with the development of the Tourism Industry a substantial progress in the Handicrafts Industry could be achieved," Trade, Marketing Development, Co-operative and Consumer Affairs Minister Bandula Gunawardena said at the Award Presentation Ceremony for Shilpa – 2007 Handicarfts Artistes held at Batthaamulla JanaKala Kendraya recently. More>>

Ruhunu Expo, a boon for exporters

From Jayampathy JAYASINGHE in Hambantota

Sunday Observer / Sunday, 21 December 2008

The Ruhunu Expo known as the Gamin Lowata Export Trade Exhibition got off the ground last week at the Tzu Chi National School, Hambantota amid a carnival atmosphere where schoolchildren and village folk flocked to get a glimpse of the products exhibited at the stalls.

Several ministers including Minister of Port Development, Airport Services, Irrigation and Water Management, Chamal Rajapaksa, Minister of Export Development and International Trade Prof. G. L. Peiris and Minister of Export Development Cegu Isadeen officiated at the inaugural ceremony. More>>

EDB to encourage rural exports

Daily News / Thursday, December 18, 2008

The strategy of the Export Development Board (EDB) is to launch production of export commodities in rural areas and to see that the profits earned from exports trickle down to the rural masses said Chairman EDB, Anil Koswatta.

He said that EDB has already decentralised its operations giving opportunities for the rural population to produce export goods. In order to achieve this goals, EDB has decided to strengthen the regional network by the establishment of branch offices and organising a series of Expo Exhibitions. The new branch office of EDB opened in Hambantota a few days ago and another one will be opened in Ampara next week. The chairman said that the purpose of setting up of new regional offices would be to identify new resources develop available resources in the region for export market and to encourage people to improve their skills to compete with the global market. More>>

Anil Koswatta Picture by Sumanachandra Ariyawansa

Malaysian Trade delegates investment mission in SL

Daily Mirror / Thursday, December 18, 2008

By Jithendra Antonio

Representing the Associated Chinese Chamber of Commerce and industry of Malaysia (ACCCIM), Tan Sri Dato’Soong Siew Hoong was in the view that Sri Lanka provides a friendly business environment for Malaysian investments and Malaysian business community despite the current war and economic situation in the country. Tan Sri Dato’Soong Siew Hoong was the Mission Leader of the 18 member ACCCIM Malaysian business delegation who arrived in Colombo yesterday. More>>

Exports increased by 6 per cent

Daily News / Wednesday, December 17, 2008

The country's exports have increased by six per cent compared to last financial year, the Central Bank announced yesterday.

The growth is mainly due to increased apparel and traditional agricultural exports, CB's Economic Research Department said. They further said the situation that existed owing to contraction of exports in previous months has been restored in October in spite of a brewing global economy. More>>

SL – Malaysia Business Council participates ‘INTRADE Malaysia 2008’

Daily Mirror / Wednesday, December 17, 2008

Sri Lanka – Malaysia Business Council of the Ceylon Chamber of Commerce participated at INTRADE Malaysia 08, trade fair organised by MATRADE, which was held recently in MATRADE Exhibition and Convention Centre, Kuala Lumpur, Malaysia. The Sri Lankan delegates had the opportunity in displaying Sri Lankan products and services and also participate at the One – to – one-business meetings which was successfully arranged by MATRADE. More>>

Huge demand for SL vegetables in global market - GL

By Charumini de Silva

The Island / Tuesday, 16 December 2008

‘Ruhunu Expo-Gamen Lowata’ Export Trade Exhibition, which was organized by the Sri Lanka Export Development Board (EDB) and the Ministry of Export Development and International Trade was held on the 13th and 14th of December 2008 at the Tzu-Chi National School Siribopura, Hambantota.

‘Ruhunu Expo-Gamen Lowata’ was a platform for producers in Ruhuna to offer possibilities to the global market for their products, with the objective of delivering the benefits of export trade to the people of Ruhuna. More>>

Levy on coconut exports to be reduced
Stanley Seneviratne Kurunegala North group corr.

Daily News / Tuesday, 16 December 2008

The Government will reduce the export tax levy to capture the lucrative export market for the main three commercial crops, Plantation Minister D. M. Jayaratne said.

The minister has agreed to reduce the Rs. 2 export levy imposed on each row coconut nut to Rs. 1. With the new move, coconut growers are capable of exporting Rs. 23 million worth of coconuts within the next three months, he said. More>>

US ties up with Brandix to train workers

Daily News / Tuesday, 16 December 2008

USAID and Brandix are working together to train 600 people for employment at a new Brandix apparel factory in Batticaloa District.

Under the Apparel Sector Training Partnership, USAID’s grant of $100,000 will provide a monthly stipend and a meal allowance for the workers during eight weeks of pre-training. More>>

Trade Expo 'Gamen Lowata' a resounding success

Daily News / Monday, 15 December 2008

Trade Expo Gamen Lowata Export Trade Exhibition was declared open last Saturday at the Tzu Chi National School Siribopura Hambantota by Minister of Ports, Aviasion, Irrigation and Water Management Chamal Rajapaksa and Minister of Export Development and International Trade Prof. G.L. Peiris Minister of Power and Energy John Seneviratna Minister of Export Development Cegu Izadean and Chairman EDB Anil Koswatte were also present on the occasion. More>>

Six fold increase annually since the signing of the FTA:

Lanka - India trade increases
Jayasri JAYAKODY

Daily News / Monday, 15 December 2008

Trade between India and Sri Lanka is annually increasing six folds since the signing of the FTA between the two countries.

" In 2007, trade between the two countries was of 3.3 billion dollars worth," Counselor-Economic and Commercial, Indian High Commission, Santosh Jha said. More>>

Tea – moved up but only just

By Steve A. Morrell

The Island / Monday, 15 December 2008

A tea broker described last week’s auction being something like the Kandy - Matale train about 40 years ago. It traveled so slow, there were times if a commuter waited for the train bordering the track and put his hand out quite like he would stop a bus, the train would stop and take on passengers on the way. More>>

Tea prices stabilise at auction

by Gamini Warushamana and Lalin Fernandopulle

Sunday Observer / Sunday, 14 December 2008

Tea prices at this week’s auction stabilised at around Rs. 215 a kilogram compared to last week’s auction of Rs. 201 per kg, an increase of Rs. 15 per kg.

Director, Promotion, Sri Lanka Tea Board, Hasitha De Alwis said there was less unsold tea at this week’s auction which is an indication that prices will further stabilise though not at around Rs. 300 per kg. More>>

GSP+ continues

by Lalin FERNANDOPULLE

Sunday Observer / Sunday, 14 December 2008

A spokesman for the Joint Apparel Association Forum (JAAF) said that the extension of the GSP Plus scheme will depend on the outcome of the investigations on the country’s Human Rights record, good governance and environmental concerns. More>>

EDB calls on exporters to think positive

Daily Mirror / Thursday, 11 December 2008

By Deepal V. Perera

The Export Development Board (EDB) of Sri Lanka, the main government institution involved in promoting the country’s exports to the outside world, called on all exporters and investors to make use of the prevailing global crisis in a favorable way by looking for better opportunities.

The Chairman of the EDB Anil Koswatte told Daily Mirror FT yesterday that what should be done is stop complaining and act positively. More>>

Daily News / Thursday, 11 December 2008

This annual event organised by the Sri Lanka Export Development Board in association with the National Gem and Jewellery Authority of Sri Lanka will showcase exquisite jewellery collection modern and traditional done by skilled craftsmen of the southern and central provinces of Sri Lanka. More>>

4th China Int'l Gold Jewellery and Gem Fair 2008 :

Local jewelers eyeing lucrative Shanghai market

Daily News / Thursday, 11 December 2008

National Gem and Jewellery Authority together with Sri Lankan jewellery companies participated at the 4th China International Gold Jewellery and Gem Fair 2008 in Shanghai.

Sri Lanka booth comprised of Furqan Ali and Sons Gem Exporters, J. A. de Silva and Co. Ltd., Yong Hua Lanka Gems Jewellery (Pvt) Ltd., South Lanka Gem and Jewellery. Companies such as Buraak Jewels (Pvt) Limited, Sparkle Gems, Shan Trading Gem, Queen Lanka Gems and Jewellery and DD Gems had their own stall at the fair. More>>

Import substitution brings negative sentiments - WTO

Daily Mirror / Thursday, 10 December 2008

By Deepal V. Perera at WTO

Headquarters Geneva

In the wake of the current financial turmoil, if countries now reactively seek protectionist policies by restricting imports and following old policies of import substitution, it would likely lead to negative results in international trade, the WTO chief said. More>>

Brandix & Deutsche Bank Sri Lanka help save lives with safe water project

Daily Mirror / Thursday, 10 December 2008

More than 2000 families living in the Anuradhapura and Kurunegala districts now have access to safer drinking water, with the completion of a collaborative community outreach project by the Brandix Group and Deutsche Bank Sri Lanka. More>>

Turkey-Sri Lanka willing to increase low trade volume

Daily Mirror / Thursday, December 04, 2008

Speaking prior to a banquet that was held for visiting Sri Lankan President Mahinda Rajapaksa, Turkey’s President Gul said, "Mr. Rajapaksa is the first Sri Lankan president who is paying a state visit to Turkey. He has also made a valuable contribution to the development of the bilateral relations between our countries in recent years. I believe that his visit will add momentum to efforts to further strengthen those relations and to develop our cooperation ties." More>>

Experiential marketing to the fore

Daily News / Thursday, December 04, 2008
Lumbini EDIRISINGHE

As a unique approach to the task of marketing goods and services, experiential marketing is a concept that integrates elements of emotions, logic, and general thought processes to connect with the consumer, Reckitt Benckiser's Manager (Surfacecare category) Shenali Wicramaarachchi said. More>>

Prof. Peiris represents President at Clinton Global Initiative

Daily News / Wednesday, 3 December 2008

The Clinton Global Initiative aims at results, converting pioneering ideas into viable solutions to urgent global challenges. More>>

Lanka upbeat on GSP+

Hiran H. Senewiratne

Sri Lanka is optimistic on the extension of new GSP plus facility from the European Union where all the stakeholders are working with European Union for the extension, JAFF Immediate Past President Ashrof Omar said.

He said European Union will be investigating on three important areas namely Human Rights Aspects, Convention on Torture and Convention of Child Soldiers before awarding the extension for a three year period. More>>

Expanding German investment in SL

Dr Sarath Amunugama, Minister of Enterprise Development and Investment Promotion received a high-powered German business delegation from Cologne. More>>

Textured Jersey goes ‘Live’ with FastReact

Daily News / Monday, 1 December 2008

Textured Jersey Lanka, one of Sri Lanka’s largest weft knit fabric manufacturers and a joint venture between Pacific Textiles Hong Kong and Brandix Lanka added ‘FastReact’ planning to its ‘Best of Breed’ investment strategy, going ‘live’ in November this year. More>>

Discussion with BOI Zone Manufacturers Association

Daily News / Monday, 1 December 2008

Minister of Enterprise Development and Investment Promotion, Dr Sarath Amunugama, and other officials met with the Presidents, Secretaries and Representatives of the Manufacturers Association from the 12 Export Processing Zones of the Board of Investment of Sri Lanka. More>>

Thoughts of a pioneering ceramics industrialist

Founder Chairman of Royal Ceramics PLC, Lanka Tiles PLC and retired Chairman of Ceylon Ceramics Corporation and Lanka Walltiles PLC Felix Premachandra De Alwis reminisces.

Daily News / Monday, 1 December 2008

Ravi Ladduwahetty

Richard Pieris to enter Indian, EU furniture markets

Daily Mirror / Monday, 1 December 2008
RAVI LADDUWAHETTY

Rubber rich diversified blue chip Richard Pieris will shortly enter Indian and European Union domestic furniture markets through the restructure of two of its subsidiaries with foreign joint venture collaboration. More>>

Zoyte to assemble vehicles in Lanka

Daily Mirror / Monday, 1 December 2008
Hiran H.Senewiratne

United Motors Lanka Plc (UML) has been awarded the approval for a vehicle assembly plant from a leading Chinese vehicle manufacturer/ exporter Zoyte.
The company is now in the process of awaiting domestic institution approvals to go ahead with the project, UML Chief Executive Officer Shanaka Yatawara told Daily News Business. More>>

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