Lankan Ranger
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India Sri Lanka trade tops $4 billion, hugely in India's favor
Sri Lanka is all set to hold its annual international trade and investment fair, Sri Lanka Expo. To be held in March, the event intends to give a message to the international community that the bad patch the country was going through is over and economic development is on the top of its agenda.
Visiting India for road shows for the event is Mr Janaka Ratnayake, Chairman and Chief Executive of Sri Lanka Export Development Board. Mr Ratnayake told Business Line that the country has chalked out a programme to develop seven thrust areas for exports.
One of them is tea. Mr Ratnayake said that the Government would launch a campaign for promoting Ceylon Tea, committing a billion rupees for the effort. Participating in international fairs, engaging with international media are some of the elements of the effort.
Similarly, Sri Lanka wants to promote rubber and rubber products. Mr Kosala Wickramanayake, Past President, Federation of Chambers of Commerce and Industry of Sri Lanka, said that efforts were on to begin rubber cultivation in Vavunia and Kilinochi the newly liberated regions.
On trade with India, Mr Ratnayake reiterated Sri Lanka's demand for a fresh look at the current pattern of India Sri Lanka trade, which is today hugely in India's favour. India exports to Sri Lanka goods worth $4 billion, and imports only $0.5 billion.
Mr Somi Hazari, Chairman and Managing Director of the Chennai-based Shosova group, and a former President of the Indo-Asean-Sri Lanka Chamber of Commerce, said that there were several non-tariff barriers for Sri Lankan goods to come to India.
For instance, Sri Lankan tea will need to be tested only at Kochi. The Indian Government also fixes a limit to garment and tea imports from Sri Lanka 3 million pieces and 15 million kg, respectively.
Business Line : Industry & Economy News : Economic development back at the top of Lanka's agenda
Sri Lanka is all set to hold its annual international trade and investment fair, Sri Lanka Expo. To be held in March, the event intends to give a message to the international community that the bad patch the country was going through is over and economic development is on the top of its agenda.
Visiting India for road shows for the event is Mr Janaka Ratnayake, Chairman and Chief Executive of Sri Lanka Export Development Board. Mr Ratnayake told Business Line that the country has chalked out a programme to develop seven thrust areas for exports.
One of them is tea. Mr Ratnayake said that the Government would launch a campaign for promoting Ceylon Tea, committing a billion rupees for the effort. Participating in international fairs, engaging with international media are some of the elements of the effort.
Similarly, Sri Lanka wants to promote rubber and rubber products. Mr Kosala Wickramanayake, Past President, Federation of Chambers of Commerce and Industry of Sri Lanka, said that efforts were on to begin rubber cultivation in Vavunia and Kilinochi the newly liberated regions.
On trade with India, Mr Ratnayake reiterated Sri Lanka's demand for a fresh look at the current pattern of India Sri Lanka trade, which is today hugely in India's favour. India exports to Sri Lanka goods worth $4 billion, and imports only $0.5 billion.
Mr Somi Hazari, Chairman and Managing Director of the Chennai-based Shosova group, and a former President of the Indo-Asean-Sri Lanka Chamber of Commerce, said that there were several non-tariff barriers for Sri Lankan goods to come to India.
For instance, Sri Lankan tea will need to be tested only at Kochi. The Indian Government also fixes a limit to garment and tea imports from Sri Lanka 3 million pieces and 15 million kg, respectively.
Business Line : Industry & Economy News : Economic development back at the top of Lanka's agenda
