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Sri Lanka’s progress with free trade agreements, finance reforms, and growth strategies for manufacturing and ICT should encourage increased foreign direct investment. Sri Lanka was named the top travel destination for 2019, and the government’s 2025 development strategy aims to increase public-private partnerships, nurture innovation and increase investment in special economic zones.
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Articles & Analysis | Moving ahead: Page 44 from The Report: Sri Lanka 2019

6 10 13 18 20 22 23 28 30 34 35 36 38 As the country moves forward with an ambitious development programme, while also navigating a series of internal political challenges, 2019 is set to be an important year for Sri Lanka. Major efforts have been made to instil greater fiscal discipline, and modernise monetary and exchange rate policy, while steps...

Articles & Analysis | Sri Lanka in brief: from The Report: Sri Lanka 2019

The Sri Lankan economy has made solid progress in recent years, which should place the country in good standing during the potentially difficult time ahead. Major efforts have been made to instil greater fiscal discipline, and modernise monetary and exchange rate policy, while steps have also been taken to improve the management of government...

In September 2017 the Sri Lankan government launched an ambitious development plan, Vision 2025. The eight-year strategy aims to turn the country into an upper-middle-income one “by transforming Sri Lanka into the hub of the Indian Ocean, with a knowledge-based, highly competitive, social market economy”. While the government and the country as a...

Export industries received a welcome boost in May 2017, when the EU reinstated Sri Lanka’s Generalised Scheme of Preferences Plus (GSP+) status, which had previously been rescinded over human rights concerns in 2010. GSP+ status removes the majority of import duties on Sri Lankan goods entering the European single market, providing access to over...

With a key geostrategic location in the Indian Ocean, international trade is a natural focus for Sri Lanka. The country has signed on to a variety of bilateral and multilateral free trade agreements (FTAs) over the years, with the most recent being the Sri Lanka-Singapore FTA (SLSFTA) in January 2018. Yet, as 2019 began, the SLSFTA ran into a number...

Global trade faces protectionist headwinds that are dampening the outlook for growth in the coming years. According to the World Trade Organisation (WTO), trade volume grew by 4.7% in 2017 and is expected to have moderated slightly to 4.4% in 2018 and dip to 4% in 2019. Although this means growth will fall below the 4.8% average seen since 1990, it...