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FINANCIAL CHRONICLE™ » EXPERT CHRONICLE™ » Import Ban should continue for at least two years

Import Ban should continue for at least two years

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samaritan

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Import Ban should continue for at least two years Unname10

Import ban on vehicles & luxury goods should continue for at least two years for SriLanka's battered economy to raise its head. If allowed in the present scenario it will not be surprising to see the dollar exchange rate exceed Rs250.

As far as vehicle imports are concerned, even before corona outbreak the roads were unable to cope with the traffic and making things worse was the inadequate parking spaces in towns & cities. Even when the ban is lifted is it wise to bring in unlimited number of vehicles into the country without having adequate infrastructure facilities to cope with the additional traffic? In addition to this air pollution is another matter of serious concern.

The govt should consider the above factors when lifting the ban even after two years.


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Post Fri Nov 20, 2020 7:34 pm by DamithAsian

The meeting of EU and SL today had ended with good positive outcome. SL convinced EU representatives that import ban is reviewed and lift restrictions as suitable with the SL situation. EU accepted that response. SL government may do something in recent future to show our compliance towards international trade.

This will be good positive news to trigger the Monday market upwards. Cheers...

lbnnirmal, Kipling, RJ1010 and judecroos like this post

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Post Sat Nov 21, 2020 10:46 pm by ADVENTUS

@DamithAsian wrote:The meeting of EU and SL today had ended with good positive outcome. SL convinced EU representatives that import ban is reviewed and lift restrictions as suitable with the SL situation. EU accepted that response. SL government may do something in recent future to show our compliance towards international trade.

This will be good positive news to trigger the Monday market upwards. Cheers...
Is there a source for this?

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Post Sun Nov 22, 2020 8:31 am by DamithAsian

Lanka Business Online
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Import restrictions are reviewed as we move along, Foreign Minister tells EU Delegation
Author LBO
Posted on November 20, 2020 | Economy, Lead Story, Special Reports, World


Nov 20, 2020 (LBO) – Sri Lanka’s Foreign Minister Dinesh Gunawardena emphasizes that the current import restrictions are reviewed as the country moves along.

During a recent discussion with the Foreign Minister, the Ambassadors of Italy, Germany, Netherlands, France, Romania and the EU Delegation based in Colombo sought clarifications regarding the recent import restrictions that were enforced and the likely timeframe the restrictions would be lifted.

Foreign Minister Gunawardena has explained the challenges Sri Lanka was facing on its economy and the foreign currency reserves due to the significant reduction in remittances and tourism revenues induced by the COVID-19 global pandemic.

However, he has underlined that the import restrictions are reviewed as we move along.

During the discussion, the EU Ambassadors have reaffirmed their desire to continue to further strengthen bilateral relations with Sri Lanka with a special focus on further advancing trade, investment and tourism sector cooperation.

The Ambassadors highlighted that Sri Lanka’s exports to the EU market worth EUR 2.3 billion, continued to grow and benefit from the EU GSP+, which allows duty free access for over 6,000 export product categories.

Minister Gunawardena has appreciated the assistance provided by the EU countries to Sri Lanka for economic and social recovery from COVID-19 pandemic, including the continued assistance for several development projects, particularly in the education, skills development, agriculture, and dairy development and water supply sectors and in investments with the private sector.

The Foreign Minister also assured that Sri Lanka was committed to achieving the SDGs and to addressing issues related to reconciliation through a credible domestic process.

The Ambassadors appreciated the cordial, open and continued dialogue between the EU member states and Sri Lanka on a number of issues of shared interest.

Related: European Union Delegation warns Sri Lanka over prolonged import ban



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