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| Trade & Investment |
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TRADE
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Current Trade
Policy
Sri Lanka introduced Open economy policies
1977 and prevails even today.
Featuring
:: Liberalized market
economy.
:: Outward looking
policies and deregulations.
:: Economic growth
through private sector participation.
:: Stimulus for
private investments and export
oriented activities.
:: As a result,
remarkable increase in the level
of foreign investment in the country.
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Major Exports
Garments, tea, gems & jewellery,
rubber & rubber products, coconut & coconut
products, spices, machinery equipments,
ceramic ware, sea food, ornamental fish,
cut flowers & foliage, plants,
fruits and vegetables, engineering products,
electronic products, leather products
,wooden furniture & products, handloom & textiles,
handicrafts & gift items, stationery
products, herbal products etc. |
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Major Imports
With the implementation of reformed import policies
in 1977, import structure visualize a gradual shift
from consumer
goods to intermediate and investment
goods.
Textiles and clothing, petroleum, machinery and
equipment, building material, transport equipments,
chemicals, wheat, sugar, fertilizer, diamonds,
etc
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Trading Partners
USA, India, UK, Hong Kong, Japan, Singapore, Germany,
Belgium, China, South Korea, Taiwan, UAE, Malaysia
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Trade
Agreements
Sri Lankan Government policies are aimed at stretching
and strengthening trade links with its regional neighbours
and
major partners,
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Regional groupings
Sri Lanka is a member of SAARC, Bangkok Agreement,
IOR-RAC,
BIMST - EC, etc. |
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Free Trade
Agreements
Indo - Lanka Free Trade Agreement - Sri Lanka
and India signed a Free Trade Agreement in
2001 and presently more than 4200 products
can be exported to India subjected to tax
exemptions, provided these fulfill the rules
of origin requirements. For more details
: www.indolankaafta.org
FTA with Pakistan is in its final stages
and also with selected countries such as
Thailand, Bangladesh etc.
Sri Lanka sIgned a TIFA wIth USA and is in
the process of signing with Singapore and
other countries. |
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Trading with Malaysia
Sri Lanka and Malaysia have been enjoymg healthy
bilateral relationships over the last few decades
and is one of Sri Lanka's major trading partners.
Sri Lanka exports, gem stones & jewellery,
rubber articles, garments, electrical items, fish,
tea, coconut coir, porcelain
etc to Malaysia.
Sri Lanka imports petroleum, palm oil, textiles,
machinery parts, plastics articles, iron & steel
articles, paper, chemicals, timber etc, from Malaysia. |
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Trade Division of the
Sri Lanka High Commission in Malaysia
Main objective is to develop trading and
investment relationships between Sri Lankan and
Malaysian businessmen. |
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Facilities offered by the Trade
division of Sri Lanka High Commission
:: Attending to
business inquiries
:: Assisting
trade and investment promotion
activities
:: Organizing
trade delegations
:: Matchmaking & arranging
appointments
:: Market
research
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Sri Lanka
:: is one of the most attractive
investment destinations in the Asia Pacific region
:: Otters business friendly environment
favourable to investment and economic growth
:: allow duty free import of
raw materials and machinery for qualifYing industries
:: encourage international investment
through liberalisation of many sectors |
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| Why Over 1500 transnational
companies have invested in Sri Lanka?
:: Strategic Location at the
cross roads of East - West maritime routes and
international time zones
- Presently rated as South Asia's leading and
service hub
:: Infrastructure
- Most developed telecommunication infrastructure
facilities in South Asia.
- International airport ranked first in South Asia
:: The policy environment is
indeed compelling
- Total foreign ownership is permitted across virtually
all areas of the economy (few areas are restricted)
- No restriction on repatriation of earnings, fees
and capital and on foreign
exchange transactions relating
to current account payment.
- Bilateral investment protection agreements with
26 countries and double
taxation relief agreements with
37 countries. (also with Malaysia)
- The safety of foreign investment is guaranteed
by the constitutions.
- Most liberal business and investment environment
in South Asia
- Ranked 39th out of 150 states with regard to
policy environment and investor competitiveness
by the World Bank
:: Skilled workforce
- English spoken and understood trainable, educated,
intelligent, energetic
workforce and professionals to be
hired
- Competitive wage rates,
- Sri Lanka high life expectancy rate, high literacy
rate, low infant and child
mortality rate are among the Asian
countries.
:: High Quality of Life
:: Transparent Investment laws
- Country's investment laws are transparent and
automatic across a wide
range of sectors. BOr has the
authority to grant exemptions from various
laws including Inland Revenue,
Customs and Exchange Control.
- When a company signs an agreement with the BOr
the specific incentives granted remain valid for
the life of the enterprise. The
provision and the spirit of the Agreement cannot
be changed by successive governments.
:: Generous Tax incentives import
duty exemptions, tax holidays
:: Board of Investment
of Sri Lanka - BOI Facilitation
The BOI is structured to function
as a central point for investors. It operates as
a autonomous statutory body
directly
responsible to the President of Sri Lanka.
Bureau of Infrastructure Investment
- BII has been established as a separate
division within the BOI to coordinate
and facilitate private sector investments relating
to infrastructure.
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For more details
contact
Board of Investment of Sri Lanka
www.boi.lk
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Extra protection for Malaysian
companies
Bilateral investment protection agreement signed
with Malaysia on 16.04.1982 |
Potential
areas for investment
- Information Technology
- Electronics
- Automobile components
- Textiles, Garments & accessories
- Light engineering
- Rubber
- Agriculture and / or Agro processing projects
- Mining and processing
- Ceramic industries
- Gems & jewellery
- Large/small scale infrastructure - Power generation,
transmission, distribution, Construction- Highway, housing,
bridges, harbours, ports, airports etc
- Manufacture of non traditional goods for exports
- Research and Development
- Regional Operating Headquarters
- Tourism, recreation & leisure
- Export oriented services
For more details: visit -www.boi.lk |
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Contact us
For further details on trade and investment
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Mr. G.L.Gnanadeva
Third Secretary (Commercial)
Sri Lanka High Commission - Trade Division
Tel: 603-42571754
Fax: 603-42532497
Email:slhicom@streamyx.com
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Copyright
@ 2007 High Commission of Srilanka Malaysia.
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