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


 

ICB CALL FOR PROPOSALS OFFSHORE FLOATING STORAGE AND REGASIFICATION UNIT

The Ministry of Power and Renewable Energy has called Proposals (REP) from prospective developers for the development of an Offshore Floating Storage and Regasification Unit (FSRU) and Pipeline Infrastructure and Supply of liquefied Natural Gas (LNG) for Ceylon Electricity Board of Sri Lanka.

The official Tender Notice can be downloaded here. For further information, please visit the website of the Ministry of Power and Renewable Energy.


 

Sri Lanka Agriculture Exhibition 11th – 16th December 2018 – BMICH Colombo, Sri Lanka

From December 11th -16th 2018, the Ministry of Agriculture of Sri Lanka in collaboration with all their stakeholders is organizing an Agriculture Exhibition at Bandaranayke Memorial International Conference Hall (BMICH) in Colombo, Sri Lanka.

The exhibition will primarily focus on the modernization of Sri Lanka’s agriculture sector and portray activities spearheaded by the “Agriculture Sector, Modernization Project” of the Ministry. This exhibition is a professional agriculture event to showcase ground breaking innovating agriculture technology of the world to modernize the agriculture sector in Sri Lanka. The event could be used to disseminate information on the new development trends and processes within the agriculture sector to stakeholders. This exhibition will be ideal to showcase a wide range of new agricultural produce /products particularly those with a potential for exports. In addition to that this will be a good opportunity to explore Sri Lankan agriculture materials for foreign buyers and also foreign supplier to display agriculture materials and machinery.

The exhibition will showcase a wide spectrum of Agriculture Products and Services including

  • Agriculture machinery and tools
  • Bio Technology
  • Agro Ecology
  • Protected Houses
  • Irrigation and Water Management
  • Floriculture
  • Home Garden
  • Urban Agriculture
  • Plant Protection
  • Landscaping
  • Pest Management
  • Fertilizer and chemicals
  • Organic Agriculture
  • Post-Harvest Technology
  • Software and Hardware
  • Marketing and Export Services
  • Seed Technology
  • and others.

The exhibition will be held in both indoor and outdoor areas of the exhibition site.

For further information, please feel free to contact the following officers:

Dr. Rohan Wijekoon – Consultant Agriculture Sector Modernization Project
Email: rwije1958(at)gmail.com Mobile: +94 715 328 281

Mrs. Nimalka Morahela – Event Manager
Email: nimalka65(at)gmail.com Mobile: +94 77 315 76 88

Please visit www.asmp.lk for further information.

Procurement Notice for Pharmaceutical Items - Global (4)

The Chairman, Ministry Procurement Committee of T Ministry of Health, Nutrition & Indigenous Medicine will receive sealed bids for supply of following items to the Department of Health Services for year 2018 & 2019.

Bid Number Closing Date & Time Item Description Date of issue of Bidding Documents from Non-refundable Bid Fee
DHS/P/M/WW/16/18

31.07.2018 at 11.00 a.m.

25,000 Vials of Dried Factor VIII Fraction 200-350 IU vial 19.06.2018 Rs. 60,000/=  + Taxes
 DHS/P/M/WW/01/19 31.07.2018 at 11.00 a.m. 500 vials of Dried Factor VII Fraction 2 mg (100 KIU0) vial 19.06.2018 Rs. 35,000/=  + Taxes
 DHS/P/M/WW/02/19 01.08.2018 at 11.00 a.m. 20,000,000 Tablets of Coamoxyclav Tablet 625 mg 19.06.2018 Rs. 60,000/=  + Taxes
 DHS/P/M/WW/03/19 01.08.2018 at 11.00 a.m. 6,000 Implants on Goserelin Acetate Implant 3.6mg 19.06.2018 Rs. 35,000/=  + Taxes

Bids should be prepared as per particulars given in the Bidding Documents available to prospective bidders on working days between 0930 hours to 1500 hours at the Head Office of the State Pharmaceuticals Corporation of Sri Lanka, No. 75, Sir Baron Jayatillake Mawatha, Colombo 1. These could be purchased on cash payment of a non-refundable Bid Fee per set as mentioned above. Offers received without enclosing original payment receipt are liable to be rejected.

Wherever applicable potential bidder7bidders should get registered in terms of the Public Contract Act No. 3 of 1987 before collecting the Bidding Documents and also should get the contract registered after the tender is awarded.

All Bids should be accompanied by a Bid Bond as specified in the Bidding Documents.

Sealed Bids may be sent by post under registered cover or may be personally deposited in the box available for this purpose at International Audit Department in the mezzanine floor of the State Pharmaceuticals Corporation at No. 75, Sir Baron Jayatillake Mawatha, Colombo 1, Sri Lanka.

Bids will be closed at the Head Office of the State Pharmaceuticals Corporation on the dates and time mentioned above and will be opened immediately thereafter. Bidders or their authorised representatives will be permitted to be present at the time of opening of Bids.

Bidding Documents are being sent to Sri Lanka Missions abroad and Foreign Missions in Sri Lanka also.

CHAIRMAN- MINISTRY PROCUREMENT COMMITTEE
MINISTRY OF HEALTH, NUTRITION & INDIGENOUS MEDICINE
C/O STATE PHARMACEUTICALS CORPORATION OF SRI LANKA
75, SIR BARON JAYATILLAKE MAWATHA
COLOMBO 1
SRI LANKA.

FAX : 00 94-11-2344082
TELEPHONE : 00 94-11-2326227/94-11-2335374
E-MAIL : pharma.manager(at)spc.lk


 

Notice for call for Tenders (2)

Current Calls for tenders:

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

Procurement Notice for the Procurement of 300,000 nos. Elastic Rail Clips (Bituminous Coated) to Sri Lanka Railways - Procurement no. SRS/F.7601

Closing date: 13 December 2018

The Procurement Notice may be downloaded here.


Procurement Notice for the Purchase of 05 Sets of Alkaline Batteries for M2 Class Locomotive Starting to Sri Lanka Railways - Procurement no. SRS/F.7568

Closing date: 13 December 2018

The Procurement Notice may be downloaded here.


Procurement Notice for the Supply of Fish Plates and Fish Bolts with Nuts to Sri Lanka Railways - Procurement no. SRS/F.7605

Closing date: 14 December 2018

The Procurement Notice may be downloaded here.


Procurement Notice for the Procurement of 3,500 nos. of Fan Blades ro Sri Lanka Railways - Procurement no. SRS/F.7585

Closing date: 18 December 2018

The Procurement Notice may be downloaded here.


 

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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