News

2016-05-18

Sri Lanka slashes tax on raw rubber exports

The Sri Lankan government will slash a cess on raw rubber exports to Rs4 a kilo from Rs15 to help cultivators get better prices by increasing competition between shippers and the domestic industry, a spokesman said.

Media Minister Gayantha Karunatillake said about 80 percent of natural rubber grown in the island is consumed by domestic industrialists and the rest exported.

2016-05-17

Sri Lanka, Germany ties get significant boost

Sri Lanka’s efforts to liberalise its economy and encouraging of a solid basis to establish close business to business (B2B) contacts are crucial to countries looking to expand investment opportunities, believes Uwe Beckmayer, State Secretary at the Federal Ministry for Economic Affairs and Energy, Germany.

“Sri Lanka now has a very stable Government which envisages on new economic base of good governance with reliable conditions to make new businesses, which is very important to attract investments to the country,” he said addressing the Business forum and B2B meeting held with the German business delegation hosted by the Export Development Board (EDB) of Sri Lanka yesterday.

2016-05-12

High-level delegation here from German Federal Ministry for Economic Affairs and Energy

Uwe Beckmeyer, Parliamentary State Secretary at the German Federal Ministry for Economic Affairs and Energy, will visit Sri Lanka from 15-17 May accompanied by a large business delegation. This is a follow-up to the visit of President Maithripala Sirisena to Berlin in February this year.

The growing political and business relations between Germany and Sri Lanka, prompted an official visit by Beckmeyer, thus showcasing Sri Lanka’s potential with Europe’s largest economy.

2016-05-10

Cinnamon Training Academy becomes the new twig of Ceylon Cinnamon

As the number one exporter of Ceylon Cinnamon in the global market, Sri Lanka’s cinnamon industry holds immense importance for the national economy. The industry plays a valuable role not only in boosting export earnings, but also in enhancing the rural economy. The cinnamon industry generates revenue and employment for 400,000 workers, mainly comprising of smallholders and cinnamon processors or peelers.

2016-05-07

SL Navy exports 9 Patrol Craft to Nigeria

Sri Lanka navy yesterday sold 9 small patrol craft, indigenously built by the Inshore Patrol Craft Project of the Navy established at Welisara, to the Nigerian Government.

The deal is a milestone in the annals of the Sri Lanka Navy as this is the very first transaction, where the Navy involved internationally earning foreign exchange to the country.

2016-05-06

Kandy IT/BPM Week 2016 in June

n a move to create a much-needed IT/BPM capacity, the Industry is advocating the creation of regional cities and bring about inclusive growth in the country. Kandy IT/BPM Week is one such initiative, which will be held from10th to 12th of June 2016, organized by SLASSCOM, supported by the Export Development Board (EDB), Information and Communication Technology Agency of Sri Lanka (ICTA) and the Ministry of Education (MOE).

2016-05-06

Sri Lanka to host World Export Development Forum 2016

The World Export Development Forum (WEDF), the flagship event of the Geneva-based International Trade Centre (ITC) will be held in Colombo, on 12-13 October 2016.

The announcement was made yesterday by Minister of Development Strategies and international Trade Maiik Samarawickrama. ITC Executive Director Arancha Gonzalez and Export Development Board Chairperson lndira Malwatte. Previous editions of WEDF have been held in Doha, Qatar (2015), Kigali, Rwanda (2014), Jakarta, Indonesia (2012), Istanbul, Turkey (2011) and Chongqing, China (2010).

2016-04-28

A ‘silver lining’ to a threatened industry Offshore Fish Farming in Trincomalee

If a dark cloud at present hangs over the dwindling local fisheries resources, Oceanpick (Pvt) Ltd has created a silver lining amid that general gloom, by developing Sri Lanka’s and South Asia’s first ever responsible, commercial scale oceanic farm for Finfish.

The Company unveiled its ‘Round Island’, oceanic fish farming brand on Monday at Eagles’ Golf Links, China Bay, Trincomalee marking Sri Lanka's bold entry into aquaculture farming in the open seas.

2016-04-18

Daily FT-MTI forum challenges Sri Lanka exports to think radical and quantum

The Daily FT-MTI Thought Leadership Forum on Sri Lanka exports, titled ‘Sri Lanka’s Export Challenges,’ confronted the brutal reality of reasons behind Sri Lanka’s stagnant export growth, while evaluating its future with radical strategic options.

The well-attended forum saw a large number of industry leaders, exporters and investors. The forum featured a key presentation by MTI CEO Hilmy Cader on ‘Sri Lanka Exports — Confront Reality. Think Strategic. Or?’ which was highly commended by all stakeholders.

2016-04-07

Cinnamon training academy opens in Kosgoda

A purpose-built cinnamon training academy was inaugurated in Kosgoda on Tuesday to serve as a catalyst for heightened competitiveness in Sri Lanka's cinnamon sector at a global level.

A result of a unique public-private partnership between United Nations Industrial Development Organization (UNIDO) and World Trade Organization (WTO) Standard Trade Development Facility (STDF) project in cooperation with The Spice Council (TSC) of Sri Lanka.

2016-04-01

EDB Chief calls for collective approach to revive exports

Sri Lanka has been known all over the world for its tea, rubber, coconut and as of late for its apparel and information communication technology (ICT). But due to the grim global situation and increased competitor activity, the country’s export sector has moved towards a negative growth trajectory. While the dampened growth in Sri Lanka’s key export markets and competition are not the only causes for the lag, the challenges on the ground have contributed significantly to the dip. With the new regime taking over and promising better economic prosperity, the business community is yet to witness a revival. Mirror Business sat down with Export Development Board (EDB) Chairperson Indira Malwatte for an in-depth discussion on the strategies conceptualised to drive the export sector forward. The newly appointed chief gave a comprehensive view on the current situation, efforts taken and the challenges ahead in making Lankan exports the prime foreign exchange earner for the nation.

2016-03-28

Sri Lanka tea exports increase

Sri Lanka tea exports showed a marginal increase in February according to Ceylon Tea Brokers PLC review.

Country wise analysis of exports shows that the Iraq has emerged as the largest export destination from Sri Lanka followed by Russia & Iran. More importantly cumulative exports to Turkey have dropped by 3.05 Mn/Kg (-50.06%) as against the same period last year.

2016-03-24

Globally tomatoes are growing on Sri Lankan growing media

The Japan farming industry has been changing, especially in the Tohoku region since the 2011 Great East Japan Earthquake and Tsunami. A trend towards less or no chemicals, protecting the environment, and creating the freshest flavors means working with technology while still incorporating a human touch. Tomato Land Iwaki does this with their massive greenhouses, and they are more than willing to give a you a peek--and a taste--inside.

The bueaty of it that all tomato plants are grown on coir slaps import excualisvly from Sri Lanka. The Sri Lankan company by the name of Riococo exports more than 300,000 coir slabs and over one million seed raising coir starter blocks to the company.

2016-03-18

EU fisheries ban: Top Lankan team to visit Brussels

Amidst exporters’ praise on government’s continued efforts to resolve the EU fishery ban, a top team of officials from Sri Lanka is now scheduled to depart for Brussels for decisive talks on the ban.

The Lankan team shall include members from the Prime Ministerial Task Force on the EU Fishery ban.

“A top Lankan delegation on the EU Fishery ban is scheduled to leave for Brussels on 30 March” revealed the Chairman of Seafood Exporters Association of Sri Lanka (SEASL) and Managing Director of Global Sea Foods, Prabhash Subasinghe on 17 March at EDB.

2016-03-10

First multilateral biz delegation to arrive in Colombo is from C’wealth

The first ever multilateral biz delegation to arrive in Sri Lanka is marshalled by the Commonwealth of Nations-and the nine-member pioneering team from the Commonwealth Businesswomen’s Network (CBN) that ar n women owned businesses. “This is the first time such a multilateral trade mission has come to Sri Lanka.

The C’wealth takes great pleasure in its pioneering endeavor to Sri Lanka and similar future missions to other C’wealth members are in offing” revealed Commonwealth Businesswomen’s Network (CBN) Executive Director Arif Zaman on 08 March in Colombo.

2016-03-02

Exporters Forum sees over 37 firms voicing issues

No less than 37 firms are voicing their issues at the eighth Exporters Forum that opened on 29 February.

The session, is presided by the State Minister of International Trade Sujeewa Senasinghe. The Exporters’ Forum is a multi-stakeholder platform to assist Lankan exporters. At the previous 7th Forum concluded successfully last November, 72 issues were taken up and 47 were resolved. Several policy related issues of seventh Forum are now being attended to. There has been significant progress in VAT and Quartz related issues that were raised in the seventh Forum.

2016-02-18

Ebay targets more export sellers from Sri Lanka as volumes grow

Ebay said it had tied up with Sri Lanka's HelloCorp to bring in new sellers, as retail export sales form the island have started to grow, despite the lack of remittance services such as Paypal.

"We see a very huge opportunity for Sri Lanka in the cross border business," Latif Nathani, a Vice President at Ebay said.

There were already 3,000 sellers in Sri Lanka offering around 9000 items for sale, he said.

Top exports from Sri Lanka included gemstones, healthcare and natural remedies, handicrafts and men's clothing.

2016-02-08

International footwear and leather exhibition from Feb 5-7EDB, Rishad join forces for Lanka exports’ next big hit

A top Cabinet Minister and Sri Lanka’s apex exports facilitator EDB joined forces on 05 February to create Sri Lanka exports’ next big win-and the bulk of Lankan footwear and leather exports are footwear, rather than leather.

“It is a great pleasure to see this series of exhibitions initiated by the Ministry of Industry and Commerce in 2007, has today grown to an international level exhibition thanks to the commitment of my Ministry officials, the Exports Development Board, the IDB, and the footwear and leather sector of Sri Lanka” said Minister of Industry and Commerce Rishad Bathiudeen on 05 February in Colombo.

2016-02-01

International footwear and leather exhibition from Feb 5-7

Local footwear and leather manufacturers need to be linked to global markets. This series of exhibitions is the best platform for the Lankan F&L sector to enter competitive global markets, said Addl. Director General, Development, EDB, Jeevani Siriwardena at the pre-event briefing on the International Footwear and Leather Expo.

2016-01-28

No foreign items in Colombo's int’l Footwear & Leather show

In a new step to enhance the global reputation of Lankan Footwear & Leather (F&L) sector, Sri Lanka’s apex export facilitator EDB locked the presence of any imported F&L items at the forthcoming international Footwear and Leather (F&L) show to be held in Colombo in February, thereby greatly re-assuring the prospective Lankan F&L exhibitors. Meanwhile, the international reception for the ongoing Colombo F&L series is such that prospective buyers from four countries already confirmed their arrival to EDB.