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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka exports to EU up 16.3-pct in first quarter 2014

Sri Lanka exports to EU up 16.3-pct in first quarter 2014

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SHARK aka TAH

SHARK aka TAH
Expert
Expert
Sri Lanka exports to EU up 16.3-pct in first quarter 2014

08 May, 2014 09:04:53

May 08, 2014 (LBO) - Sri Lanka's exports to the European Union have risen 16.3 percent from a year earlier to 896 million US dollars in the first quarter of 2014, the industry commerce ministry said.

Commerce and industry minister Rishad Bathiudeen said total exports to the European Union had rise to 3.27 billion US dollars in 2013 from 2.7 billion US dollars in 2012.
Minister Bathiudeen was addressing the second EU-Sri Lanka Trade Dialogue in Colombo Wednesday organized by the European Chamber of Commerce Sri Lanka (ECCSL).

Of the total exports 60 percent was apparel.

"As a market, the 28 countries in the EU has emerged as the number one export destination for products of Sri Lanka," he was quoted as saying.

In 2013, the total bilateral trade between Sri Lanka and EU was 4.9 billion US dollars.

"The relationship built on apparel trade has become a strategic partnership with major buyers in the EU, minister Bathiudeen was quoted as saying.

"Today, Sri Lanka has become a value creator to its strategic partners. This significant development, in our exports to the EU is the growth in our apparel exports despite the loss of GSP plus facility in August, 2010.

"This certainly demonstrates, our commitments in adding value not only to our business partners but also to the consumers in the EU countries."
The EU withdrew GSP+ benefits to Sri Lanka due over human rights issues making Sri Lankan exports more expensive than earlier.

Europe also went into an economic recession, but has since recovered.

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
This is an excellent move. Administrators have to revisit the current methodologies being used & revise the links with European community tactically covering all lacking areas in order to upheld the quantum of exports in the long run. Are our administrators are capable of??

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