EDB Joins Hands With Jedb to market Export adjusted industrial Agriculture

Sri Lanka Export Development Board (EDB) and therefore the Janatha Estates Development Board (JEDB) has brought along synergies and resources of each organizations for attracting native investors to line up industrial Agriculture comes in underutilized and unutilized lands on the market in JEDB Estates. The personal sector, significantly the export community hails this initiative within the background of declining country’s exports.

Enhancing exports depends on increase of Sri Lankan share within the world trade that market access for product and services made within the country ought to be raised. However, the intervention adopted to extend market access is no matter necessary its scope is restricted to produce chain capacities and capabilities. Further, it's necessary to feature a lot of and a lot of price to commodities to extend exchange earnings, e.g., we have a tendency to talked of cinnamon oil as a price addition to raw cinnamon however these days, cinnamon oil is turning into a trade goods, wanting to select price addition to supply fragrances, prescribed drugs etc., that provide capacities got to be raised through industrial agriculture.

China promises to help Sri Lanka become a shipping hub

COLOMBO, Sri Lanka (AP) — China's Foreign Minister Wang Yi said Friday his country will align its maritime silk road project with Sri Lanka's development plans to enable the island nation to become a shipping hub in the Indian Ocean.
Wang's comments came after meeting Sri Lankan Foreign Minister Mangala Samaraweera, starting a two-day visit. It is a sign of Sri Lanka's new government's increasing receptiveness to Chinese projects having previously suspended some to investigate corruption and possible environmental hazards.
"We'll take the building of the maritime silk road as a priority to better align our development strategy including your five-year development plan so that we can come up with a comprehensive blue print for future cooperation, so that we can help Sri Lanka build itself into a shipping center in the Indian Ocean," Wang said.

President promises fair solution to VAT issue

President Maithripala Sirisena yesterday promised that an uncomplicated decision will be taken on the VAT system following further talks with all stakeholders.
He made this observation during discussions with representatives of traders’ associations at the Presidential Secretariat on the VAT. Prime Minister Ranil Wickremesinghe and other ministers participated in the discussion. The President further said the main focus should be the consumer when the VAT issue is considered and assured that a suitable solution would be reached considering the problems of the business folk as well. The President also instructed that a representative of the traders’ associations participate at each meeting to be held on VAT together with the economic experts, ministers and public officials.

Prez talks tough Calls for urgent meet to revise VAT structure

By Shamindra Ferdinando

Revealing his intention to replace Central Bank Governor Arjuna Mahendran with renowned economist Indrajith Coomaraswamy, President Maithripala Sirisena on Saturday (July 2) stressed that he cherished democracy and unity and was obedient only to the people.

President Sirisena was responding to a claim by an Opposition politician that he was subservient to Prime Minister Ranil Wickremesinghe.

Addressing an event held at the Nelum Pokuna theatre to mark the 94th International Cooperative Day, President Maithripala Sirisena said he had taken the decision in respect of new Central Bank Governor at a discussion with Premier Wickremesinghe.

Brexit negatively affect SL economy: Harsha

The British exit from the European Union would negatively affect Sri Lankan economy as fluctuation in the share markets in Europe and Asia had begun to occur in the wake of the Brexit, Deputy Foreign Affairs Minister Dr. Harsha de Silva said yesterday.

Dr. De Silva said the instability of the British economy and devaluation of the sterling pound would negatively affect our exports as 35 per cent of the Sri Lankan export to Europe was going to Britain.

“Our exports to Europe is 30 per cent and 35 to 40 per cent of it is going to Britain. Even if we obtain GSP+, we would not be able to gain the full advantage of it as we would not b able to export to Britain without export duty,” he said.

Fisheries Minister upbeat about selling marine craft to EU this year

By Maheesha Mudugamuwa

More Sri Lankan made vessels would be exported to the European Union (EU) countries this year, Fisheries and Aquatic Resources Development Minister Mahinda Amaraweera claimed yesterday.

With the lifting of EU ban on Sri Lanka fish exports, the country would receive an income of over Rs. 20 billion by exporting Sri Lankan made vessels to the EU countries, Minister Amaraweera said.

Participating in a discussion at the Cinnamon Grand Hotel in Colombo recently on the international exhibition of Sri Lankan boats and fisheries scheduled to be held from Oct. 13 to 15 at the Dikkowita Fishery Harbour to boost the international demand for Sri Lankan boats, Minister Amaraweera noted that there was a high demand in international market for the boats manufactured in Sri Lanka as they conformed to international standards.

First consignment of fish handed over after the ban lifted by EU

First consignment of fish to be exported to the European Union was handed over to the European Union Ambassador in Sri Lanka David Daly at the Dikovita Fisheries Harbor on Friday (17th June).

The European Union lifted its ban on Sri Lankan fish exports on Thursday (16th June).

At this occasion Ambassador Daly officially announced the lifting of the ban on Sri Lankan fish exports to the European Union.

Thereafter the first consignment of fish was handed over to the exporters by Fisheries and Aquatic Resources Ministry Secretary Mangalika Adhikari and the EU Ambassador.
According to the Secretary, Sri Lanka’s earnings from fish exports dwindled from Euro 73 million to 9 million as a result of the ban.