Sri Lanka, UAE Customs sign agreement to boost technical cooperation

News.lk - 30/12/2014

Customs departments of the United Arab Emirates (UAE) and Sri Lanka have signed an agreement to boost the technical cooperation between the two agencies.
The UAE, represented by the Federal Customs Authority, FCA, and Sri Lanka Customs, have initialed the agreement on customs technical cooperation in Colombo, during a UAE delegation's visit to discuss ways to bolster cooperation, Emirates News Agency reported.

The agreement was signed by Saud Salem al-Aqrouby, FCA Head of the International Relations Department, and S. Rajendran, Additional Director of Sri Lankan Customs in the presence of Director-General of Sri Lankan Customs, Jagath P. Wijeweera, and several additional Directors-General and Deputy Directors in the Sri Lankan regulatory body.

University of Jaffna hosts biggest IT conference in Northern Peninsula

news.lk - 24/12/2014

IT industry thought leaders and undergraduates meet and network at Day Four of Jaffna IT Week

One of the most prevalent needs of Sri Lanka’s blossoming IT industry is increased human capital, to meet the rising demands of an industry that is hungry for further growth. Public-private partnerships need to play a dynamic role to strengthen our human resources and make known to our youth some of the country’s best employment opportunities.
The Jaffna IT Week – an industry initiative for inclusive growth and reconciliation – facilitated this collaboration, bringing together top stakeholders from the public and private sectors to share knowledge and network with some of the young talent of the country at the Jaffna IT Conference, which was held on 6 December 2014 at the University of Jaffna.

CMI and KPMG discuss how to take advantage of FTAs with India and China

Daily FT - 24/12/2014

In an effort to go beyond the obvious and to better understand the dynamics, opportunities and challenges that stem from Sri Lanka’s Free Trade Agreements (FTA) with India and prospects with China, the Chartered Management Institute (CMI) – UK’s Sri Lanka Branch, held a knowledge sharing event recently which they organised in association with their exclusive knowledge partner, KPMG in Sri Lanka. The event captioned ‘Free Trade Agreements: Trends, Prospects and Opportunities with India and China’ brought together business leaders in an interactive discussion on how to make the most of the trade agreements with India and China and how they can contribute to the development of Sri Lanka’s economy.

Sri Lanka tops the Brown Fiber Export Market

News.lk - 24/12/2014

Coconut is one of the major plantation crops in Sri Lanka which accounts for approximately 12% of all agricultural produce in Sri Lanka. Total land area under cultivation is 395,000 hectares and about 2,500 million nuts are produced per year.

Sri Lanka is very popular in world market for Desiccated Coconut (DC) and Brown fiber. Distinguish white colour and characteristic taste of the DC ranked Sri Lanka at No. 04 position of world export of all kernel products. Sri Lanka is in No. 01 position of world exports of Brown fiber. The technique called drum system used to extract fiber resulting long pure fiber which are more suitable for brush industry.

Sri Lanka's Desiccated Coconut exports records a 148% increase

news.lk - 22/12/2014

Sri Lanka has recorded a remarkable 148% increase during the first eight months of this year in Desiccated Coconut exports compared to the same period in 2013.
Sri Lanka has exported 26115 M/T in 2014 against 10530 M/T for the same period in 2013 for the period referred to above.

Sri Lanka's D/C exports are likely to have a bright future from a short and medium term market perspective due to Philippines D/C production being affected by Cyclones.

SRI LANKA RANKS 89 IN FORBES’ BEST COUNTRIES FOR BUSINESS

The Sri Lanka government said that the country is placed 89th out of 146 nations in the Forbes’ Best Countries for Business 2014 ranking, while India was 93rd.

The Sri Lanka government said in a statement that Forbes noted, “however, low tax revenues are a major concern. A large trade deficit remains a concern, but strong remittances from Sri Lankan workers abroad help offset the trade deficit.”

The best country for business this year is Denmark, which ranked No. 1 three straight years between 2008 and 2010. The top10 includes also Hong Kong, New Zealand, Ireland, Sweden, Canada, Norway, Singapore and Switzerland.

SL betters BRIC nations

nation.lk - 21/12/2014

Forbes Best Countries for Business

Sri Lanka has been rated at the 89th position in the Forbes’ list of the best countries for business this year out of 146 nations ranking better than even larger economies like Russia (91), India (93), Brazil (94) and China (97). A breakdown of the ratings showed that Red Tape has declined to 85th position whilst Trade Freedom has been rated at 98, Monetary Freedom 124, Property Rights 72, Innovation 45, Technology 92, Investor Protection 50, Corruption 78, Personal Freedom 99, Tax Burden 124 and Market Performance improved to the 7th position.

“Sri Lanka continues to experience strong economic growth following the end of the 26-year conflict with the Liberation Tigers of Tamil Eelam.