Course summary: trade and business in Sri Lanka
The Democratic Socialist Republic of Sri Lanka has a strategic location
in Southern Asia, in the center of one of the principal marine routes
between Europe and the Far East: the Indian Ocean.
- Sri Lanka has positioned
as regional logistics
center and
International trade
hub
- Sri Lanka has the highest per capita
revenue in South Asia region
- The service sector of Sri Lanka generates 60% of Gross
domestic product (GDP). Main sectors of the economy: Telecommunications,
trade, logistic and transport and
financial services
- Vision of the
President Rajapaksa (Mahinda Chintana) wish to open the economy to
globalization process, attracting Foreign direct investment (FDI) and
establishing Free Trade Agreements with strategic partners.
Sri Lanka has preferential access to several markets:
International trade of Sri Lanka
- Exports of Sri Lanka: 7 billion USD
- Top exports products: garments, tea, rubber products,
coffee, jewelry and gems,
refined petroleum, and coconuts.
- Top export markets: United States, United
Kingdom, India.
- Imports of Sri Lanka: USD 9.6 billion.
- Major suppliers of Sri Lanka: India, Singapore,
Hong Kong,
China,
Iran,
Malaysia,
Japan,
United Kingdom, Union of Arab Emirates, Belgium,
Indonesia,
South Korea, United States
Free trade zones in Sri Lanka are one of the pillars of economic development and
source of Foreign direct investment (FDI).
- Malaysia is the major investor
in 2006 (USD 55 million). Other important investors in Sri Lanka are: United Kingdom,
Singapore and Honk Kong
- 50% of all
investments of India in South Asian Association for Regional
Cooperation (SAARC) countries are invested in Sri Lanka.
Example of the course doing business in Sri Lanka:
Brandix is the biggest exporter of apparel in Sri Lanka.
Sri Lanka Telecom is one of most valuable blue chip companies in Sri
Lanka
The Democratic Socialist Republic of Sri Lanka (known as Ceylon before 1972)
has a population of 21 million people.
- Sri Lanka is a multi-ethnic and multi religious nation.
- The Sinhalese, the majority community, comprise 74% of
Sri Lanka people.
- The 2 official languages are Sinhala and Tamil.
- Sri Lanka has been a center of Buddhist religion and culture from ancient times.
