trade

Belt and Road Initiative spurs Sri Lanka’s growth
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Chinese Ambassador Cheng Xueyuan addressing the gathering . Pix: Courtesy BCIS Taken from Sunday Observer  BY VISHWA AUWARDS Sri Lanka is one of the first countries to join with the Belt and Road Initiative (BRI) said the Chinese Ambassador in...
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High protection betrays uncompetitiveness of Sri Lankan industry
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ECONOMYNEXT - Prohibitive import tariffs that protect domestic industry from competition are an indication of the inefficiency of local companies, Subhashini Abeysinghe, Research Director at think-tank Verité Research said. Higher import taxes signal higher domestic prices compared to import prices,...
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Sri Lanka needs to generate public support for trade reform
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ECONOMYNEXT - Sri Lanka needs to convince the public about the benefits of trade so they could prod politicians to make the reforms to reduce living costs and companies more competitive, panelists at a World Bank forum said. The general...
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Corrupt bureaucrats, uncompetitive local industries blocking trade liberalisation
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By Nishel Fernando The largely uncompetitive local industries and corrupt bureaucrats are exploiting the public perception to delay trade liberalisation and the necessary reforms for their personal gains, as the government and academics have so far failed to engage the...
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Rethinking the rupee crisis 
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The call by the Government to reduce imports as an effort to counter the impact of Sri Lanka’s fast depreciating rupee was met with disdain by many members of the public. This is largely because an import contraction is seen...
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Online Govt. trade portal set to fail if structural problems go unchecked: Leading researcher
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By Madushka Balasuriya In July this year, Sri Lanka made one of the most progressive steps in its trade history when it launched the Sri Lanka Trade Information Portal (SLTIP). An initiative by the Department of Commerce, in collaboration with...
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Sri Lanka’s regulations, multiple state agencies blocking progress
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ECONOMYNEXT - Sri Lanka's multiple ministries and agencies and regulations is making it difficult to implement policy and red tape was hindering trade and investment, and reform are required to unlock growth, officials said. "Sri Lanka compared to other emerging...
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Loopholes hamper outcome of import tax relief programs – Study
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Tax exemptions come as a shot in the arm for businesses saddled with various taxes such as Import Duty, Import Cess, Port and Airport Development Levy, Nation Building Tax (NBT) and Value Added Tax (VAT) which are key revenue sources...
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Import taxes
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Import taxes are an important part of an economy. They provide tax revenue, raw materials and products that directly affect the lives of people. However, a recent study has found that Sri Lanka’s import tax exemption schemes are too opaque,...
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Study finds Sri Lanka import tax exemption schemes prone to abuse
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Sri Lanka’s import tax exemption schemes are not transparent, subject to undue official discretion and prone to abuse, a study by the Verité Research think-tank has found. Called ‘Wading Through Murky Waters’, the think-tank said its findings were a case...
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