Doing Business in Sri Lanka
EENI - Business School.
Subject (Course): International Trade and Business in Sri Lanka. Colombo. Syllabus:
- Introduction to the Democratic Socialist Republic of Sri Lanka (Asia).
- Doing Business in Colombo.
- Sri Lankan Economy.
- International Trade of Sri Lanka.
- Trade Relations Sri Lanka-India
- Foreign Direct Investment (FDI) in Sri Lanka.
- Case Study: Sri Lankan companies
- Brandix Lanka.
- Sri Lanka Telecom.
- Access to the Sri Lankan Market
- Business Plan for Sri Lanka
Objectives of the subject “Doing Business in the Democratic Socialist Republic of Sri Lanka”:
- To analyse the Sri Lankan economy and foreign trade
- To evaluate business opportunities in the Democratic Socialist Republic of Sri Lanka
- To explore Sri Lanka's trade relations with the student's country
- To know Sri Lanka's Free Trade Agreements (FTA)
- To examine the profile of Sri Lankan Companies
- To develop a business plan for the Sri Lankan Market
Subject Description: Foreign Trade and Business in Sri Lanka.
The Democratic Socialist Republic of Sri Lanka (formerly Ceylon
before 1972) is located in South Asia, about thirty-one kilometres off the Southern
coast of India.
- The population of Sri Lanka: 21 million people.
- Sri Lanka is in the 102 position out of 182 countries in the Human
Development Indicators, ahead of Argentina (105), Vietnam (116th), Indonesia (111), India (134), Pakistan (141), and Bangladesh (146).
- Sinhalese, the majority community, constitute 74% of the population.
- The two official languages of Sri Lanka are Sinhala and Tamil.
- The capital of Sri Lanka: Sri Jayawardenapura Kotte
- The main city: Colombo
- Area: 65,610 square kilometres
- Sri Lanka is a Parliamentary Republic
- Independence from the United Kingdom: 1948
- Sri Lankan currency: Sri Lanka Rupee
Religions in Sri Lanka:
- Sri Lanka is a multi-ethnic and multi-religious nation.
- 70% of Sri Lankans belongs to Theravada Buddhism.
- Sri Lanka has been a centre of Buddhist religion and culture from ancient times.
- Hinduism: 15% of the population
- Catholic Christians (1.2 million)
Sri Lanka belongs to the Economic Area of the Buddhist Civilisation
Sri Lankan Economy.
- The Democratic Socialist Republic of Sri Lanka has a strategic location
in Southern Asia, in the centre of one of the principal
marine routes between Europe and the Far East: the Indian Ocean.
- Sri Lanka has a relatively modern industrial economy and one of the highest levels of per capita income in the region of South Asia.
- Sri Lanka has positioned as regional
logistics centre 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 the gross domestic product.
- The main sectors of the Sri Lankan economy: telecommunications, trade, logistics and transport, and
- Brandix is the leading import producer of apparel in Sri Lanka.
- Sri Lanka Telecom is one of most valuable blue chip companies in Sri
International Trade of Sri Lanka.
- Sri Lanka is known worldwide for the export of tea, coffee, coconuts, and rubber
- The vision of President Rajapaksa (Mahinda Chintana) wishes to open the economy to globalisation process, attracting
foreign direct investment and establishing Free Trade Agreements (FTA) with strategic partners.
- Exports of Sri Lanka: 7 billion dollars
- Top Sri Lankan exports products: garments, tea, rubber products, coffee, jewellery and gems, refined petroleum, and coconuts.
- Top Sri Lankan export markets: the United States, the United Kingdom, and India.
- Imports of Sri Lanka: 9.6 billion.
- Major suppliers of Sri Lanka: India, Singapore, Hong Kong, China, Iran, Malaysia, Japan, the United Kingdom, the Union of Arab Emirates, Belgium, Indonesia, South Korea, and the 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 largest investor (55 million dollars).
- Other notable investors in Sri Lanka are the United Kingdom, Singapore, and Hong Kong
- 50% of all
Indian investments in the South Asian Association for Regional Cooperation countries are invested in Sri Lanka.
Sri Lanka has preferential access to several markets:
- India-Sri Lanka Free Trade Agreement (FTA)
- Pakistan-Sri Lanka Free Trade Agreement (FTA)
- South Asian Association for Regional Cooperation (SAARC)
- South Asia Subregional Economic Cooperation (SASEC)
- Asia-Pacific Trade Agreement (APTA)
- Bay of Bengal Initiative (BIMSTEC)
- Indian-Ocean Rim Association (IORA)
- Asian Clearing Union (ACU)
Sample of the subject - Doing Business in Sri Lanka:
Regional institutions of Sri Lanka.
- Boao Forum for Asia
- Asia Cooperation Dialogue (ACD)
- Asia-Middle East Dialogue (AMED)
- Economic and Social Commission for Asia and the Pacific (ESCAP)
- Asian Development Bank (ADB)
- Colombo Plan
- United Nations (UN),
- World Bank (WB)
- International Monetary Fund (IMF)
India-Sri Lanka Agreement: