Sri Lanka, the pioneer in economic liberalization in the South Asian region, has for over two decades pursued free market policies, introducing fundamental reforms in the broad areas of investment, fiscal policy and tariffs, and adopted the floating exchange rate mechanism with effect from 23rd January 2001. The progressive liberalization of the economy since 1977, has resulted in a business friendly environment in Sri Lanka. The Free Trade Agreement between Sri Lanka and India further enhanced Sri Lanka’s strategic position, as the gateway to the large Indian market. Sri Lanka is a founder member of the GATT and its successor, the WTO.
- Key Indicators
-
|
Literacy Rate |
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92.5% |
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Life Expectancy |
|
|
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74 years |
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Infant mortality rate (per 1,000) |
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(2008) |
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19 |
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Population |
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(2008) |
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21 million |
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Population Growth Rate |
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(2008) |
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0.94 % |
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Per Capita Income – GDP |
|
(2007) |
|
1617 (US$) |
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Economic Growth |
|
(2007) |
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6.8 % |
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Unemployment Rate |
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(2007) |
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6.0 % |
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Inflation |
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(2007) |
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15.8 % |
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Exports |
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(2007) |
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US$ 7.6 billion |
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Imports |
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(2007) |
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US$ 11.4 billion |
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Composition of Exports |
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(2007) |
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Industrial |
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75.80 % |
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Agricultural |
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19.32 % |
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Other |
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4.88 % |
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Main Export Items: |
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(2007) |
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Textiles & Garments |
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40.60 % |
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Tea |
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13.24 % |
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Machinery & Equipment |
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4.79 % |
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Rubber products |
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6.24 % |
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Diamonds and Jewellery |
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|
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6.14 % |
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Food, beverages & tobacco |
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|
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3.95% |
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Fish products |
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2.38 % |
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Main Export Markets: |
|
(2007) |
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US |
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25.50 % |
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UK |
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13.12 % |
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India |
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6.65 % |
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Germany |
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6.65 % |
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Belgium |
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|
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5.25 % |
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Italy |
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|
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5.05 % |
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U.A.E. |
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|
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2.70 % |
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Russia |
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|
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2.68 % |
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France |
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2.27 % |
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Japan |
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|
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2.09 % |
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Composition of Imports: |
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(2007) |
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Consumer goods |
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17.7 % |
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Intermediate goods |
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57.6 % |
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Investment goods |
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|
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23.8 % |
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Unclassified imports |
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|
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0.9 % |
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Main Import Items: |
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(2007) |
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Textiles and clothing |
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14.4 % |
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Petroleum |
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22.1 % |
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Food and drink |
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|
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9.4 % |
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Machinery and equipment |
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11.0 % |
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Main Import Markets: |
|
(2007) |
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India |
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17.96 % |
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Singapore |
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8.85 % |
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China |
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6.47 % |
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Iran |
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5.45 % |
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Hong Kong |
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7.58 % |
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Japan |
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5.13 % |
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U.A.E. |
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2.97 % |
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Malaysia |
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3.83% |
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Composition of GDP |
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(2007) |
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Agriculture |
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12 % |
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Industry |
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28 % |
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Services |
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60 % |
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Foreign Direct Investment (FDI) |
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US$ Mn. |
|
2005 |
|
|
|
287 |
|
2006 |
|
|
|
604 |
|
2007 |
|
|
|
734 |
- Monetary System and Exchange Rate:
Sri Lanka Rupee (Rs) is the local currency, which is divided into hundred cents. Sri Lanka adopted the ‘FLOATING EXCHANGE RATE MECHANISM” with effect from 23rd January 2001, in determining the value of her currency (Rs) against foreign currencies.
Exchange Rate - www.lanka.net/centralbank
- Import and Export Controls:
The tariff regime has been simplified. The external trade and tariff policy
continued to converge towards a more liberal and less protective regime.
Total number of items under import controls at 6 digit level of Harmonized
System of Codes (HS Codes) increased by 63 items to 376 items by end of 2003.
About 30 categories of exports i.e. wood and articles of wood (ebony), ivory
and ivory products and passenger motor vehicles (first registered in Sri Lanka
prior to 1945) and several mineral products continue to remain under license
with the objectives of environmental protection and preservation of antiques.
- List of Exportable Items from Sri Lanka to Egypt:
- Tea
- Rubber – sheet, crepe and block rubber (TSR) based products
- Surgical Gloves
- Desiccated Coconut
- Coconut fibre, bristle, mattress and others
- Cocopeat and moulded coir products for use in horticulture
- Activated Carbon
- Rutile and graphite
- Spices – pepper, cinnamon and cardamom, etc.
- Cashew
- Artificial Flowers and Foliage
- Wooden and Educational Toys
- Soft Toys
- Gems and Jewellery
- Ceramic and porcelainware
- Treated Rubberwood
- Chemicals, plastics and allied products
- Glass cubes/blocks and other glass products
- Pneumatic Tyres
- List of Exportable items from Egypt to Sri Lanka:
- Rock phosphate
- Phosphate Fertilizer
- Clover seeds
- Medicinal Herbs
- Chemical Products
- Pharmaceutical & Medical Appliances
- Engineering Goods
- Aluminium
- Cotton Yarn & Fabrics
- Sanitaryware & Fittings
- Ceramic Tiles (Wall/Floor)
- Dates
- Tyres & Tubes
- Raw Cotton
- Fresh oranges
- Fruit Juices (Orange and Apple)
- Carpets
- Pharmaceuticals
- Sri Lankan Food
Products in the Egyptian Market
The following Sri Lankan products are now available in the super markets
(Carrefour, Alfa and Shoprite) in Egypt.
1. MUNCHEE & RITZBURY OF M/S. CEYLON BISCUITS LTD.
- Wafers, Lemon Puff, Orange Cream,
Milk Short Cake, Cream Crackers, Tea Time Assortment, Savoury Nuts,
Cheese Buttons, Cheese Buttons Cans, Hawaiian Cookies, Coconut
Crunch, Tiffin, Chunkey Choc, Chocolate Finger Biscuits, Chit Chat,
Pebbles and Choco-A-Nut.
2. MD ITEMS OF
M/S. LANKA CANNERIES LTD.
- Jams: Mango, Mixed fruits,
Pineapple, etc.
- Cordials: Beli Nelli, Ginger, Lime, etc.
- Sauce: Chillie, Tomato, Tropical, etc.
- Chutney: Mango, Ambrella, Mixed fruits, Wood apple, etc.
- Pickle: Onion, Brinjal, Mango, Lime, etc.
- Paste: Mustard, Tamarind, Garlic, Ginger, etc.
- Topping: Chocolate, Mango, Mixed fruits, etc.
- Nectar: Woodapple, Pineapple, Passin, etc.
- Kitul Treacle
- Coconut Vinegar
3. ESSENCE
LANKA ITEMS
- Rose essence, Almond, Banana,
Pineapple, Strawberry, Vanilia, Cinnamon.
4. MOTHA ITEMS
- Jelly: Strawberry, Raspberry,
Lemon, Mango, Peach, Orange, Blackcurrant, Cherry, etc.
- Diet Jelly: Custard Powder, Caramel
- Pudding: Chocolate, Mango etc.
DO NOT MISS TO TASTE THE DELICIOUS &
HIGH QUALITY SRI LANKAN FOOD ITEMS
- Ceylon Tea:
http://www.pureceylontea.com
- Trade Chambers in Sri Lanka:
ADDRESSES OF TRADE AND
INVESTMENT RELATED GOVERNMENT AGENCIES
| 1- |
|
Board of Investment of Sri Lanka
World Trade Centre (West Tower)
Level 15 – 17, West Tower,
Echelon Square
Colombo 1.
Tel.No.
2346091
Fax No.
2346091
E-mail: webmaster@boi.lk |
|
|
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| 2- |
|
Central Bank of Sri Lanka
New Building
Janadhipathi Mawatha
Colombo 1.
Tel. Nos. 2477000 – 2440330
Fax No. 2477682 |
|
|
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| 3- |
|
Sri
Lanka Tourist Board
80 Galle Road,
Colombo 3.
Tel.Nos. 2437059/60 – 2437952
Fax No. 2440001
E-mail:
tourinfo@sri.lanka.net |
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|
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4- |
|
Coconut
Development Authority
54, Nawala Road,
Narahenpita, Colombo 5
Tel. Nos. 2502503 – 2502504
Fax No. 2508729
E-mail : cocoauth@panlanka.net |
| |
|
|
| 5- |
|
Department of Commerce
4th floor,
Rakshana Mandiraya,
Vauxhall Street,
Colombo 2
Tel. No. 2329733
Fax No. 2430233
E-mail : fortrade@sri.lanka.net
fortrade@doc.gov.lk |
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|
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|
6- |
|
Department of Exchange Control
Equity 2 Building,
Janadhipathi Mawatha,
Colombo 1
Tel. No. 2321059
Fax No. 2321060 |
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|
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7- |
|
Department of Immigration and Emigration
Station Road,
Bambalapitiya,
Colombo 4
Tel. Nos. 2503629 – 2503638 – 2503653
Fax. Nos. 2597511 – 2503331 |
|
|
8.
Import and Export Control Department
9. Sri Lanka Customs
|
|
8- |
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Import and Export Control Department
1st floor,
Hemas Building
Colombo 1
Tel. No. 2326774
Fax. No. 2328486 |
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|
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| 9- |
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Sri Lanka Customs
Time Building
Colombo 1
Tel. Nos. 2470945 – 2470949
Fax No. 2446364 |
| |
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10- |
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Sri Lanka Export Credit Insurance Corporation (SLECIC)
Level 4, Export Guarantee House,
DHPL Building,
42 Nawam Mawatha,
Colombo 2
Tel. Nos. 4719410 – 4719413
Fax. No. 4719400 |
|
|
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| 11- |
|
Sri Lanka Export Development Board
42, Nawam Mawatha
Colombo 2
Tel. Nos. 2300705-711
Fax. No. 2300715
E-mail : edb@tradenetsl.lk |
| |
|
|
| 12- |
|
The Sri Lanka Standards Institution
17, Victoria Place,
Elvitigala Mawatha
Colombo 8
Tel. Nos. 2671567 – 72
Fax. No. 2671579 – 267616-17 |
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|
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| 13- |
|
Sri Lanka Ports Authority
19 Church Street
Colombo 1
Tel. Nos. 2421201/231/236/550
Fax. No. 2440651 |
|
|
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| 14- |
|
Department of Inland Revenue
Sir Chittampalam A. Gardiner MAwatha
Colombo 2
Tel. Nos. 2421241 – 2421247
Fax. Nos. 2430816 – 2328429 |
|
|
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| 15- |
|
Registrar of Companies
“Samagam Medura”
400 D.R. Wijewardena Mawatha
Colombo 10
Tel. No. 2689212 |
|
|
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| 16- |
|
Registrar of Patents & Trade Marks
“Samagam Medura”
400 D.R. Wijewardena Mawatha
Colombo 10
Tel. No. 2689368
Fax. No. 2689367 |
|
|
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| 17- |
|
Sri Lanka Tea Board
574, Galle Road
Colombo 3
Tel. Nos. 2587814 – 2583687
Fax. No. 2589132 |
- Commercial Banks in Sri Lanka
01) ABN Amro Bank N.V.
02) American Express Bank Ltd.
03) ANZ Grindlays Bank
04) Bank of Ceylon
05) Citibank N.A.
06) Commercial Bank of Ceylon Ltd.
07) Deutsche Bank A.G.
08) Dubai Bank Ltd.
09) Emirates Bank International Ltd.
10) Habib Bank. Zurich
11) Habib Bank Ltd.
12) Hatton National Bank Ltd.
13) Hong Kong & Shanghai Banking Corporation Ltd.
14) Indian Bank
15) Indian Overseas Bank
16) Investment & Credit Bank Ltd.
17) Mashreq Bank P.S.C.
18) Muslim Commercial Bank Ltd.
19) National Savings Bank
20) Overseas Trust Bank Ltd.
21) Pan Asia Bank Ltd.
22) People’s Bank
23) Pramuka Savings & Development Bank Ltd.
24) Public Bank Berhad
25) Sampath Bank Ltd.
26) Seylan Bank Ltd.
27) Standard Chartered Bank
28) State Bank of India
29) Union Bank of Colombo Ltd.
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