Trade & Investment

An Overview of Sri Lanka's Trade Policy

Sri Lanka has been practicing an open economic policy since 1977.  The economy has been growing steadily during the past few years with a rate of over 8% in 2014.  GDP growth remains one of the healthiest in the region at 7.3% with per capita income at USD 3,191 in 2013.  The country also has a high literacy rate of 95.6% and an unemployment rate of 4.4%.

The main exports are textiles and apparel, tea and spices, rubber products, precious stones, coconut products and fish. Sri Lanka is world famous for tea and overseas employment of Sri Lankans is also a significant contributor to the economy. Key imports include petroleum, textiles, machinery and transportation equipment, building materials, mineral products, foodstuffs.  Sri Lanka's main markets include USA, UK, Japan, China, India and the Middle East.  Among the main import markets are Japan, India, UK, USA, among others.

Sri Lanka has signed Free Trade Agreements with India, Pakistan and China.  It is also a member of the South Asian Free Trade Area (SAFTA), APTA, BIMSTEC and a member of the G-15.

Sri Lanka has been successfully moving towards achieving the Millennium Development Goals and has achieved halving poverty, gender equality and education goals. 

The Ministry of Industry and Commerce and particularly its Department of Commerce, is tasked with Sri Lanka's trade policy, implantation and promotion, especially overseas.  

For more information please visit the following websites:

Ministry of Industry and Commerce: www.industry.gov.lk

Department of Commerce: www.doc.gov.lk

 

Why Invest in Sri lanka

Sri Lanka has one of strongest economies in the South Asian region, with a growth rate of over 8% in 2014.  Strategically located in the Indian Ocean, with a large and dynamic services sector, an educated and skilled workforce, excellent infrastructure and global connectivity, Sri Lanka is an ideal destination for the foreign investor.  The country is also fast emerging as an air, maritime, energy, knowledge and commercial hub in the region.

The Government of Sri Lanka has put in place several regulations to promote and protect foreign investment, including total foreign ownership in almost all areas of the economy.  There are no restrictions on repatriation of earnings and the safety of foreign investment is guaranteed under the constitution.  There is also a sophisticated and transparent legal framework in place.  Sri Lanka has signed 28 bilateral investment protection agreements and 38 agreements on the avoidance of double taxation.   Free trade agreements with India, Pakistan and recently with China, also provides access to these large markets. 

Sri Lanka's export processing zones and industrial parks have been a linchpin in the industrial development and inflow of foreign direct investment into Sri Lanka. The country's economic development zones are seen as benchmarks of successful implementation of zone development strategies. 

Sri Lanka’s strategic location in the Indian Ocean is an added incentive for the investor, as it is situated in one of the world’s most important and busiest maritime routes.  The country is also well connected by air.   The Government has heavily invested in infrastructure and energy.  Yet, Sri Lanka is also mindful of environmental protection and sustainable development. 

The Board of Investment of Sri Lanka (BOI) is the key institution regarding the promotion of investment and the one stop shop for all potential investors to Sri Lanka.  

For further information regarding investing in Sri Lanka, please visit the BOI website on. www.investsrilanka.com


 

Calling for EOI for Front End Engineering Design (FEED)

Chairman, Cabinet Appointed Procurement Committee (CAPC) on behalf of Ceylon Petroleum Corporation (CPC) invites eligible process licensers of reformer process units to express their interest in providing the services to carry out a Front End Engineering Design (FEED) for a new Continuous Catalyst Regeneration (CCR) type reformer unit for producing high octane gasoline from heavy naphtha feed stock to be installed at the “Sapugaskanda” oil Refinery of Ceylon Petroleum Corporation, Sri Lanka. Further, the same party is expected to carry out FEED studies for revamping of the existing Crude Distiller and Gas Oil Hydrotreater units at the Refinery to increase their capacities.

For further information see here.

Colombo International Tea Convention 2017 – Celebrating 150 Years of the Tea Industry

The Colombo Tea Traders Association which is the apex body for the Tea trade will be organizing the Colombo International Tea Convention from 9th – 11th August 2017 at the Cinnamon Grand Hotel Colombo. It will begin with the FAO Inter Governmental Group on the 7th and 8th August 2017.

The target audience for this event are tea manufacturers, exporters and suppliers from all over the world. The programme is as follows:

08th August 2017 – Welcome Cocktail
09th August 2017 – Opening Ceremony and Sessions at BMICH & Presidents Tea Party
10th August 2017 – Sessions and Gala Dinner at Cinnamon Grand Hotel
11th August 2017 – Sessions at Cinnamon Grand, Beach Party at Mount Lavinia Hotel

For further information on this major event on Tea, please visit www.ceylonteaevents.com.


 

Sri Lanka Investment & Business Conclave 2017: Growth through Partnerships 30th May to 1st June 2017 – Colombo – Sri Lanka

The Ceylon Chamber of Commerce, in association with the Ministry of Development strategies and International Trade, Ministry of Foreign Affairs, Board of Investment of Sri Lanka, Sri Lanka Export Development Board, the Department of Commerce and the Sri Lanka Convention Bureau (SLCB) will be organizing the “Sri Lanka Investment and Business Conclave 2017” from 30th May to 1st June 2017 at the Oak Room, Cinnamon Grand Colombo, Sri Lanka.

Focus Sectors of the this year’s Business Conclave are Agriculture, Apparels, Education, Export Manufacturing, Export Services, Infrastructure, Knowledge Services, Tourism and Leisure, Power & Energy and others.

The Business Conclave 2017 will be centred on an overall theme of “Growth through Partnerships and feature a two days event, B2B meetings and field visits on the final day. The Brochure of the Conclave can be downloaded here.

SriLankan Airlines would offer a 15 % discount on Economy Class and a 10 % discount on Business Class airfare to all participants and accompanying persons for purchase of tickets for registered delegates travelling to SriLankan Airlines online stations. The list of SriLankan Airlines online stations is available here.

Notice for call for Tenders

Current Calls for tenders:

Bid forms are available at the Sri Lanka Embassy in 1040 Vienna, Weyringergasse 33 - 35, 4th floor.

 

Procurement for the Supply of 25 Nos. Rail Drilling Machines, 25 Nos. Rail Cutting Machines, 25 Nos. Sleeper Boring Machines and 10 Nos. Coach Screing Machines for Track Maintenance of Sri Lanka Railways - Procurement no.: SRS/F.7451

Closing date: 26th May, 2017

For further information on this procurement, please see here.


 

Procurement for the Supply 12,000 Nos. Low Friction Composite Brake Blocks for Rumanian Coaches to Sri Lanka Railways - Procurement no.: SRS/F. 7465

Closing date: 30th May, 2017

For further information on this procurement, please see here.


 

Procurement for Designing, Manufacturing, Installation & Commissioning of Event Recorder System and Vigilance Control System for Selected Locomotives of Sri Lanka Railways - Procurement no.: SRS/F.7253

Closing date: 31st May, 2017

For further information on this procurement, please see here.

 

 

World Export Development Forum 2016

The 16th edition of the World Export Development Forum (WEDF) in Colombo, Sri Lanka, from 12th to 13th October 2016 at the BMICH helps businesses to navigate the new trade and development landscape.

WEDF is a unique global conference and business-to-business (B2B) matchmaking platform dedicated to supporting trade-led development.

As the flagship event of the International Trade Centre (ITC), WEDF brings together over 600 business leaders, policy-makers, heads of trade and investment support institutions and international trade development officials to address international competitiveness for developing countries.

This 16th edition of WEDF is co-hosted by ITC and the Ministry of Development Strategies and International Trade of Sri Lanka, through the Sri Lanka Export Development Board (EDB).

Meet us in Sri Lanka for high-level panel discussions, practical workshops and B2B meetings to:

• Get the latest on consumer trends, business strategies and trade policies to navigate today’s trade environment;
• Connect with experts on trade issues such as standards, trade facilitation and logistics;
• Find solutions to overcome key trade barriers and increase competitiveness;
• Sign new business deals with partners from Sri Lanka and around the world.

 

Office Time

Office Days:            Monday - Friday

Consular Hours:         09:00 - 12:00
Office Hours:              09:00 - 17:00

Contact us

Address: 
Embassy and Permanent Mission of Sri Lanka
Weyringergasse 33, 4th floor
1040-Vienna
Austria
 
Telephone: +431/5037988
Fax: +431/5037993
Email: slmission@srilankaembassy.at



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