Embassy of Ireland is interested in the agro industries of

Sri Lanka and also expressed desire to explore the IT

Sector as there is synergy among Sri Lankan and Irish IT

sector. It is hoped that a long term understanding could

be worked out between the ECCSL and the Embassy of

Ireland in New Delhi - in an effort to promote Trade and

Investments between Sri Lanka and Ireland.

7/3/2017 NEWSLETTER_EN03/JUNE/2017

AMBASSADOR OF IRELAND

VISITED ECCSL OFFICE

The Vice President of ECCSL Mr. Arnold

Perera had the pleasure of receiving a

delegation from the Embassy of Ireland led

by His Excellency Mr. Brian McElduff on 8th

May 2017.

The Ambassador was pleased to meet

officials of the ECCSL and extensive

discussions were held on promoting bilateral

trade and investments between Ireland and

Sri Lanka.

The Ambassador expressed the view that

Embassy of Ireland was very much looking

forward to expand bilateral trade in view of

the recent trends in economic development

activities in Sri Lanka and sought the

assistance from the ECCSL.

Advertise Here

Contact: invest.trade@eccsl.lk

From left to right side -H. E. the Ambassador Mr. Brian

McElduff, Embassy of Ireland, Mr. Rory Power,

Commercial Counsellor and Ms. Tanaz Buhariwalla,

Director-India, IDA Ireland

The European Chamber of Commerce of Sri Lanka

CONGRATULATIONS PRIME MINISTER! (Press release by MR. NIRANJAN DEVA-ADITYA DL FRSA MEP)

Niranjan de S Deva Aditya, the

European Parliament Member

and Senior Advisor to the Prime

Minister jubilantly congratulated

Ranil Wickremesinghe the Prime

Minister, on Sri Lanka being

granted GSP Plus status by the

EU Council and the European

Parliament yesterday.

“Let’s make no mistake about this”

Deva Aditya said. “The GSP plus

status is given to friendly

countries who believe in the

values, norms and legal process

that the EU believes in”. In giving

this status to Sri Lanka only one

man mattered, the Prime

Minister whose word was

accepted by the EU under the

stewardship of HE President

Sirisena. It is because of Ranil

Wickremesinghe, it is because of

his reputation and probity, it is

because of his

assurances, his

honesty and his

promise that the EU

accepted that Sri

Lanka will follow

the same norms

and values which

underpin the EU, now the biggest

economy in the world.

Regaining GSP Plus status was

no easy task. Sri Lanka also owes

a debt of gratitude to HE Rodney

Perera the Sri Lankan

Ambassador to the EU,

understaffed, underfunded and

undermanned who valiantly

accepted the challenge of

persuading 700 plus MEPs, to

accept Sri Lanka’s promise and

the Prime Ministers word.

“I am proud to have been

associated with this heroic effort

which will generate 100,000 new

jobs and 500,000 associated jobs

bringing export earnings up by

over 2 billion dollars per year to

the Sri Lankan economy if the

business community and

investors grasp the challenge and

set up to fulfil their part in

creating wealth for the masses”

Deva Aditya said. The EU

demanded that the Sri Lankan

government to show “prompt”

and “concrete progress” in

improving human rights and

addressing areas of concern such

as torture, violence against

women, corruption, on human

rights and labour rights and

environmental protection.

During discussions lasting 18

months between the EU

delegation and Prime Minister

Ranil Wickremesinghe, Foreign

Minister Mangala Samaraweera

and Trade and Investment

Minister Malik Samarwickrema

the Sri Lankan government

confirmed its commitment to

move forward on reforms in

sectors identified by the EU.

“Both sides reaffirmed their joint

commitment to the promotion

and protection of human rights

domestically and globally and to

collaborate on the effective

implementation of international

human rights instruments,” the

statement said.

Advertise Here

Contact: invest.trade@eccsl.lk

Denmark, officially the Kingdom of

Denmark, is a Scandinavian country in

Europe and a sovereign state. The

southernmost of the Nordic countries, it is

south-west of Sweden and south of

Norway, and bordered to the south by

Germany.

EXPLORE EUROPE – Denmark

Important Factors

Economic Overview

This thoroughly modern market economy

features a high-tech agricultural sector,

advanced industry with world-leading firms in

pharmaceuticals, maritime shipping and

renewable energy, and a high dependence on

foreign trade. Denmark is a net exporter of food,

oil, and gas and enjoys a comfortable balance of

payments surplus, but depends on imports of

raw materials for the manufacturing sector.

Danes enjoy a high standard of living and the

Danish economy is characterized by extensive

government welfare measures and an equitable

distribution of income. An aging population

will be a long-term issue.

Denmark is a member of the EU; Danish

legislation and regulations conform to EU

standards on almost all issues. Despite

previously meeting the criteria to join the

European Economic and Monetary Union,

Denmark has negotiated an opt-out with the EU

and is not required to adopt the euro. Within

the EU, Denmark is among the strongest

supporters of trade liberalization.

Bilateral Trade Relationship

Cont’d.

Denmark is experiencing a modest economic

expansion. The economy grew by 1.6% in 2015 and

an estimated 1.0% in 2016. The expansion is

expected to continue at similar rates in 2017 and

2018. The labor market has strengthened since 2013,

and unemployment stood at 4.2% in early 2017,

based on the national measure. By early 2017 some

sectors were experiencing difficulties attracting

qualified labor. Productivity growth was

significantly below the OECD average from the

mid-nineties until 2011, but has increased in recent

years. Improvement in productivity is needed to

ensure continued growth.

Denmark maintained a healthy budget surplus for

many years up to 2008, but with the global financial

crisis the budget balance swung into deficit. For 2016

the budget deficit was 1.4%. The government

projects lower deficits in 2017 and 2018. Public debt

(EMU debt) is projected to continue to decline.

Household indebtedness is still relatively high at

more than 292% of net disposable income in 2015,

while household net worth - from private pension

schemes and other assets - amounted to 497% of net

disposable income.

Trade between Denmark and Sri Lanka are described as "impressive". Sri Lankan export to Denmark are

mainly Rubber Tyres, Tobacco and Clothes, while Danish export to Sri Lanka is Machinery, Dairy

products and Pharmaceutical products .In 2016, Danish export to Sri Lanka amounted USD 60 million

and Sri Lankan export to Denmark amounted USD 26 million.

Top ten products in Export and Import

Cont’d.

UPCOMING EVENTS

Advertise Here

Contact: invest.trade@eccsl.lk

CRT (Coconut, Rubber, Tea) Trade Fair 2017: 11th-13th August 2017

at BMICH

BBB Matchmaking Event at Texworld 2017

For more details, send your enquiries to invest.trade@eccsl.lk

On behalf of the Government of Sri Lanka, the MPI will organize CRT Trade Fair 2017 from 11th to 13th

August, 2017 at the Bandaranaike Memorial International Conference Hall (BMICH), Colombo, Sri Lanka.

The CRT Trade Fair 2017, one of the world class events will obviously provide a platform to the global

partners in coconut, rubber and tea industries to meet, interact, network and disseminate knowledge and

information pertaining to the all aspects of industry operations. For more information, please visit CRT

website (www.crttradefair2017.com) and also contact CRT secretariat (email: crttf.info@gmail.com, tel: +94

11 2186160) or ECCSL.

Email: invest.trade@eccsl.lk Web: www. eccsl.lk

ECCSL MEMBERS

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