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
Lanka Mineral Sands Ltd (LMSL) is a fully Government owned Company under the purview of the Ministry of Industry & Commerce. Lanka Mineral Sands Ltd is producing Heavy Mineral Sands of mainly Ilmenite, Rutile, Zircon and Hi- TI Ilmenite for export by mining & processing the natural heavy minerals deposits in the country. In addition to these, Zircon – crude, Crude Monazite, Fine Concentrate and Non-Magnetic Heavy Mineral concentrate which considered semi processed are also produced for sale.
The Chairman of the Cabinet Appointed Tender Committee, on behalf of Lanka Mineral Sands Limited, No. 341/21, Sarana Mawatha, Rajagiriya, Sri Lanka invites sealed bids from local & foreign parties who are interested in buying Dry Ilmenite available at the factory in Pulmoddai of Sri Lanka.
The details of the tender are as listed below:
|PRODUCTS||QUANTITY FOR SALE||BID SECURITY||
DATE & TIME OF TENDER
CLOSING AND OPENING
At 14.00 hrs
The Bidding Document could be viewed at the official websites www.industry.gov.lk or www.lankamineralsands.com and downloaded free of charge.
The Bidding Document together with the Prescribed Bid Form may be purchased on week days from 0900hrs. to 1500hrs from 25/09/2017 to 19/10/2017 from Marketing Division upon payment of non-refundable Bidding Document Fee of LKR35,000.00 or USD 230.00 to Lanka Mineral Sands Ltd. 341/21, Sarana Mawatha, Rajagiriya, Sri Lanka.
The Bid, prepared in accordance with the Instructions to Bidder, enclosed in a suitable envelope marked “Sale of Heavy Mineral Sands, Tender No. LMS/MKT/TDR/17/16” on the top left hand of the envelope should either be sent under registered post to the addressed in the below to receive before 1400hrs on 20 /10 /2017 or be deposited in the Tender Box available at the same address.
For any additional information: please contact Marketing Manager of Lanka Mineral Sands Ltd, and Marketing Division on Telephone +94112883951, +94112883965, +94112883954, Fax +94 11 2882668 and Email ilmenite(at)slt.lk / malmsl(at)sltnet.lk
Call for the Expression of Interest (EOI) for the Development of 14.5 acre land Peliyagoda owned by State Engineering Corporation of Sri Lanka
The State Engineering Corporation (SEC) which is functioning under the Ministry of Housing and Construction is calling for Expressions of Interest from reputed and established investors (local or foreign) who are capable of developing the SEC owned land of an extent of 14.5 acres situated in Peliyagoda, facing the Negombo – Colombo Main Highway and the entrance road to the Katunayake – Colombo Expressway.
For further information you may contact Mr. K.E.H.A. Ranasinghe, Deputy General Manager (Consultancy) of SEC +94-11243691, +94-714319053, e-mail: dgm_consult(at)secsl.lk.
The Information Guide to Submission of EOI may be downloaded here.
Please notice that the closing date of this EOI has been extended by two weeks and that accordingly the opening will be held at 03.00 pm on 19/10/2017.
Registration of Suppliers of Restricted Items of Defence Equipment and Ammunition for the calendar year 2018 (2)
Lanka Logistics and Technologies Ltd., (LLTL) is a fully state owned company which operates under the purview of the Ministry of Defence (MOD), Sri Lanka. LLTL provides Procurement Facilitation, Project Management, Research, Consultancy and ICT Services to Government entities. LLTL is in the process of registering suppliers for restricted items for the year 2018 to furnish requirement of the Armed Forces as well as its other line agencies in Sri Lanka.
Pre-requisite for registration of suppliers for restricted items is to submit the following duly filled documents to LLTL on or before 31 October 2017.
a. Non-Disclosure Agreement (NDA) – Annex A
b. Memorandum of Understanding (MOU) – Annex B
c. Application for the Registration of Foreign Suppliers for Restricted Items for Year 2018 – Annex C
The following documents will be helpful for the prospective suppliers to register with LLTL.
a. Restricted Item List for year 2018 – Annex D
b. Instructions to fill NDA and MOU – Annex E
c. Instructions to fill Application of Registration of Suppliers – Annex F
Any supplier who had signed NDA & MOU with LLTL valid till 31 December 2018 does not require to re-submit same. Such suppliers could submit only the “Application for the Registration of Foreign Suppliers for Restricted Items for Year 2018”.
Prospective suppliers are kindly requested to submit the above to the Chief Executive Officer, Lanka Logistics and Technologies Ltd., 4-205, BMICH, Bauddhaloka Mawatha Colombo 07, Sri Lanka. (E-mail: info(at)lltl.lk. SupplierReg(at)lltl.lk).
Annex A - F can be downloaded here.
The Chairman/Managing Director of Standing Cabinet Appointed Procurement Committee (SCAPC) under the Ministry of Power and Renewable Energy inviting sealed applications for registration of coal suppliers, who wish to register with Lanka Coal Company to supply coal for Lakwijaya Power Plant-Puttalam, Sri Lanka under Spot and Term Tenders.
The application form and the information document for the above registration could be downloaded from the website www.lankacoal.lk.
Further Lanka Coal Company has confirmed that the Term Tender for the season 2017-2019 has been invited from the registered suppliers for coal of LCC and deadline of the bid submission will be on 10th August 2017.
Further information could be obtained from the Manager Operations via +94 112 824681/2 and +94 71 1113111.
Current Calls for tenders:
Bid forms are available at the Sri Lanka Embassy in 1040 Vienna, Weyringergasse 33 - 35, 4th floor.
Procurement of 18 nos. Axels with Wheels for Heavy Trolleys and 16 nos. Axels with Wheels for Light Trolleys to Sri Lanka Railways - Procurement no.: SRS/F.7481
Closing date: 29th August, 2017
For further information on this procurement, please see here.