SRI LANKA

CSLBC welcomes incoming Consul General for Sri Lanka in Toronto

March 14, 2022 cslbc 0

The Canada-Sri Lanka Business Council and its members welcome Mr. Thushara Rodrigo as the new Consul Genera for Sri Lankan in Toronto. A committed member […]

High-level Economic Council chaired by President established

March 9, 2022 cslbc 0

Economic and fiscal policies, decisions to be discussed: Council to be convened weekly: Wednesday, March 9, 2022. A high-level Economic Council chaired by President Gotabaya […]

Sri Lanka Tourist Arrivals Surge 2,767% in February

March 8, 2022 cslbc 0

The number of foreign tourist arrivals in Sri Lanka jumped 2,767.1 percent year-on-year to 96,507 in February of 2022, as soaring vaccinations around the world […]

SRI LANKA: Stock market notches one of best day gains with Rs. 181 m net foreign inflow

March 2, 2022 cslbc 0

Tuesday, 1 March 2022. The Colombo stock market yesterday produced one of its best performances with both indices up over 4% amidst improved turnover as […]

Sri Lanka exports up 13-pct in Jan 22, tea, spice exports down

February 24, 2022 cslbc 0

Thursday February 24, 2022. ECONOMYEXT – Sri Lanka’s merchandise exports in January 2022 rose 13 percent from a year earlier to 1,063.63 million US dollars, […]

Sri Lanka exporters optimistic in post-pandemic revival despite cost spike: survey

December 10, 2021 cslbc 0

Friday December 10, 2021. TRADE DISRUPTION: Sri Lanka’s export industries which saw supply chains hit by Coronavirus are now facing weaker demand in Europe. ECONOMYNEXT […]

BOI accelerating efforts to attract strategic investments

July 29, 2021 cslbc 0

Thursday, 29 July 2021. Strategy implementation focusing on country attractiveness and revamping BOI through 7-pillar approach Recruits professionals on contract basis to select positions and […]

SRI LANKA: April exports up by 183% to US$ 798.9 mn

May 21, 2021 cslbc 0

Friday, May 21, 2021. Sri Lanka’s export performance continued its upward momentum in the first three months of 2021. Due to the Covid-19 pandemic induced […]

Sri Lanka targets 100,000 tourists a month in 2022

Wednesday December 8, 2021

ECONOMYNEXT – Sri Lanka is expecting to attract about 100,000 tourists a month in 2022, or about half the 2018 level, Sri Lanka Tourism Development Authority chief Kimarli Fernando said.

Sri Lanka welcomed the highest ever number of tourists in 2018 with 2.3 million arrivals and it dipped to 1.9 million following the Easter Sunday bombings.

In October, Sri Lanka has welcomed 21,000 arrivals in October and it had already doubled to 40,000 by November which is part of the traditional winter peak season.

“In comparison, in 2018 we had 200,000 tourists every month,” Fernando said. “So even if we target 100,000 which is 50 percent less, then we have done well,”

“Also we must not forget that there is a large market in India. The airlines too have increased to Sri Lanka from India and I believe they don’t do charity.”

Sri Lanka has a very successful vaccination drive, and the country is open for tourism with a level of security, she said.

A number of airlines had already resumed flights to Sri Lanka. (Colombo/Dec07/2021)

Sri Lanka tourists hotels asked to take payments only in foreign exchange

Saturday January 22, 2022.

ECONOMYNEXT – Tourists visiting Sri Lanka are encouraged to pay hotels in foreign currency instead of converting money into rupees at the kerb market as the country is facing foreign exchange shortages due to liquidity injections.

The central bank said that registered hotels would be mandated to collect payments from tourists only in foreign exchange.

“We would ask the foreigners to pay either in credit card or at the time of the check out they would be paying in their currency of a foreign nation,” Central Bank Govenror Nivard Cabral said after raising rates 50 basis points, which would go some way into reducing money printing and forex shortages.

“If they encash, then they will have to do it at an authorized dealer, and show that receipt it was encashed by a certified dealer for that value.”

Tourist hotels in turn are expected to deposit the dollars in banks within two or three days.

Hotels typically pay a lower rate to tourists than commercial banks. Commercial banks are now expected to maintain a 200 to the US dollar peg, which has been weakened due to open market operations to keep rates down.

In the kerb market the dollars is around 240 to the US dollar.

After Sri Lanka opened for tourism, for the first time in 20 months it received 80,000 tourists in December 2021 compared to around 200,000 a month pre-pandemic.

So far in January around 45,000 tourists, mostly Russians have come to the country. (Colombo/Jan22/2022)

No PCR tests for Sri Lanka bound travelers from March 01, 2022

Monday February 28, 2022.

ECONOMYNEXT : State-run SriLankan Airlines said it will board fully vaccinated travelers bound for Sri Lanka from March 01, without a Coronavirus PCR test if they are fully vaccinated under the latest health regulation relaxation of the Indian Ocean tourist paradise.

“Fully vaccinated travellers are considered as those who are above the age of 18 years and have completed the recommended dosage of a given type of COVID-19 vaccine at least two weeks before their scheduled date of departure to Sri Lanka,” the airline said in a statement.

“Children who are 18 years of age or younger and have received at least a single dose of a recognized vaccine two weeks before the date of departure are also considered as fully vaccinated.

“However, passengers who do not meet this criterion, are still required to produce a negative COVID-19 test report before departure.”

The removal of the requirement for a PCR or rapid antigen test before departure makes travel to Sri Lanka easier at a time when international travel is perceived as an inconvenience, the airline said.

Sri Lanka is trying to boost tourism to help the economy which however is hit by a large budget deficit and money printed to keep interest rates artificially low, which has triggered forex shortages.

Sri Lanka said it had earned 268 million US dollars in tourism revenues in January 2022. (Colombo/Feb28/2022)

CODE OF CONDUCT GUIDELINES – CSLBC BOARD OF DIRECTORS

BOARD OF DIRECTORS’ CODE OF CONDUCT GUIDELINES

The board of directors of the Canada-Sri Lanka Business Council (hereinafter called the “Council”) shall maintain the highest standard of conduct; act with fairness, integrity and dignity and in a manner not detrimental to the interests of the Council. A ‘director’ shall not violate any by-laws of the Constitution, in the performance of their duties. As directors of the Council they agree to abide by this code.

The board of directors of the Council shall:

Serve the Council faithfully, respecting confidentiality, and avoiding conflicts of interest and activities for personal gain at the expense of the Council or its Members;
Advise the Council concerning any contemplated actions or decisions which they know to be illegal or unethical, and shall further advise of the possible consequences of proceeding such actions or decisions;
Serve all members of the Council impartially, provide no special privilege to any individual member, and accept no personal compensation from a member for providing advocacy;
Advise the board of any member who may have committed an act in contravention of the Constitution governing the Council;
Directors’ shall not engage in, or condone behavior which causes unnecessary mental, physical distress or loss of dignity, privacy to their fellow members on the board of directors;
Directors’ are expected to meet the highest standards of personal integrity and shall avoid the abuse of their status with the general membership;
Directors’ shall discharge fiduciary obligations and comply with and be accountable to the laws of the land, province and municipality acting in a manner that justifies the trust of the membership and strengthen the Council in the eyes of the public;
Directors shall not work in contravention of the Mission Objectives of the Council and as an extension, the by-laws and constitution of the Council;
Directors’ shall not hold parallel positions on the board of other business councils, trade chambers or any other group that promotes bilateral trade, investment, industrial development and technology transfer between Canada and Sri Lanka;
The CODE serves to enhance public confidence in the integrity and service of Council directors. Adherence to this Code is imperative to serve on the board of directors of the Council. The board shall interpret and enforce the Code in the manner set out in the Council’s formal discipline process.

-THE END-

THE ABOVE CODE OF CONDUCT GUIDELINES WERE APPROVED BY THE BOARD OF DIRECTORS AND RATIFIED BY UNANIMOUS ASSENT BY THE GENERAL MEMBERSHIP IN 2008 AT THE ANNUAL GENERAL MEETING. THESE GUIDELINES ARE INCORPORATED AS BY-LAWS IN THE CONSTITUTION OF CANADA-SRI LANKA BUSINESS COUNCIL. IT WAS ALSO DECIDED TO INCORPORATE THIS POLICY IN THE MEMBERSHIP APPLICATION FORM WITH IMMEDIATE EFFECT.

YEAR 2008

ContactUs.com

Canada-Sri Lanka Business Council - CSLBC

Promoting bilateral trade & investment between Canada & Sri Lanka