Canada-Sri Lanka Business Council – CSLBC – Page 31 – Promoting bilateral trade & investment between Canada & Sri Lanka

Canada provides CAD $310,000 to support humanitarian relief efforts in Sri Lanka

30 May 2016 cslbc 0

The Government of Canada has provided CAD $310,000 (approximately 35 million LKR) in support to humanitarian relief efforts in Sri Lanka in response to […]

Sri Lanka High Commission Appeal for Flood relief assistance to Sri Lanka

19 May 2016 cslbc 0

FLOOD RELIEF ASSISTANCE TO SRI LANKA This is to inform that the Ministry of Foreign Affairs in Colombo has informed this High Commission that a […]

Canada – Sri Lanka Friendship Group formed in Canadian Parliament

15 May 2016 cslbc 0

A Canada – Sri Lanka friendship group has been formed in the Canadian Parliament to boost ties between both countries. The election of office […]

Public Notice from Sri Lanka High Commission

11 May 2016 cslbc 0

Presidents of Sri Lanka Associations / Organizations, Dear Sir / Madam, Website of Adopt a Village Market We are pleased […]

Special Awards Gala to celebrate 25th anniversary of Council

4 May 2016 cslbc 0

The Canada-Sri Lanka Business Council was formed in October 1990, and its board of directors resolved to celebrate their 25th anniversary milestone late this year […]

Action plan to boost US and Sri Lanka bilateral trade

29 April 2016 cslbc 0

US-SRI LANKA TRADE AND INESTMENT FRAMEWORK COUNCIL ADOPTS ACTION PLAN TO BOOST BILATERAL TRADE. Minister of Development Strategies and International Trade Malik Samarawickrama led Sri […]

Sri Lanka to stop giving tax holiday under BOI law: PM

26 April 2016 cslbc 0

ECONOMYNEXT – Sri Lanka will stop giving tax holidays under Board of Investment Law and limit it to breaks available under the Inland Revenue […]

Message from President, CSLBC

20 April 2016 cslbc 0

As President of Canada-Sri Lanka Business Council, this is what I expect from my team – the board of directors. As I renew my ensuing […]

Sri Lanka Government dismantles diaspora office

Sri Lankan government dismantles diaspora office
08 October 2024

The Sri Lankan government headed by Anura Kumara Dissanayake has reached a decision to dismantle an “Office for the Affairs of Sri Lankans Abroad” which was specifically instituted by former president Ranil Wickremesinghe to bring in investments from the diaspora and assist with ‘philanthropy’ and ‘reconciliation’ efforts.

Confirming the cabinet decision, Foreign Minister Vijitha Herath explained that the office's functions were deemed redundant, as other existing government institutions were already providing similar services.

“The National People’s Secretariat is not deemed necessary at the moment," he said. "There already exists a system which is being implemented by the Divisional Secretariats and at the village level. The Cabinet of Ministers decided to suspend this program as it is not necessary.”

According to the website of the office, the office was meant to serve as a “focal point for coordination with all pertinent parties to ensure that overseas Sri Lankans receive timely, efficient services and to open doors for their support as important participants in Sri Lanka’s development and reconciliation.”

The website which is still functioning states that “over 3 million peoples are regarded to be our clients, and their lineage to Sri Lanka as Sri Lankan citizens residing and working overseas or Sri Lankan citizens naturalized in a host country or the decedents of Sri Lankans is considered to be an asset.”

At the cabinet meeting, Herath announced that the National Peoples Power government had decided to suspend the National Peoples Council, the Office for the Affairs of Sri Lankans Abroad established under the President’s Office and the Agriculture Modernization Program. He also said that the government would terminate the services of the officers and consultants who were hired on a contract basis for this project.

Canada-Sri Lanka Business Council – CSLBC

Canada-Sri Lanka Business Council is a business incorporated in 1990 with Corporations Canada, a division of Innovation, Science and Economic Development (ISED) Canada. The Corporation Identifier (ID) is #2815141. The business office is registered in Toronto, Canada. E-Mail: groupdynamics@rogers.com WhatsApp: +1 416 418 2207.

The Inaugural President of Canada-Sri Lanka Business Council (CSLBC) was Sir Christopher Ondaatje. Current President is Upali Obeyesekere. The mission of Canada-Sri Lanka Business Council is to assist and promote bilateral trade, investment, tourism, technology transfer and industrial cooperation between Canada & Sri Lanka.

The mission of Canada-Sri Lanka Business Council is to provide advocacy to promote bilateral trade, investment, tourism, technology transfer and industrial cooperation between Canada & Sri Lanka. We have an intelligence unit to provide 'due diligence' to businesses in Canada and Sri Lanka since it is our fiduciary duty to protect the business community in both jurisdictions.

The 34-year old council is headquartered in Toronto, and is proud of its position as the premier bilateral trade and investment council between Canada and Sri Lanka. Its bilateral partner is the Sri Lanka-Canada Business Council (SLCBC) which functions under the aegis of Ceylon Chamber of Commerce (CCC). Well known business magnate Mr. Hemaka Amarasuriya was the inaugural president of the Sri Lanka Council. It goes on record that due to the pro-active efforts of CSLBC Inaugural President Sir Christopher Ondaatje, the Sri Lanka Council (SLCBC) was formed. At the time, a gentleman' agreement was reached that the Sri Lanka-Canada Business Council (SLCBC) will operate as the bilateral partner of Canada-Sri Lanka Business Council (CSLBC). This arrangement was mutually agreed by the High Commissioners of both jurisdictions including the presidents of both councils. LET NO MAN OR WOMAN PUT ASUNDER THIS BILATERAL ARRANGEMENT.

Website: www.cslbc.ca
E-Mail: groupdynamics@rogers.com
WhatsApp: +1 416 418 2207

President: Upali Obeyesekere
Email: cslbcbiz@rogers.com

SRI LANKA: Tourist Arrivals 2024

Monthly Tourist Arrivals Reports 2024

Sri Lanka’s 2024 tourism revenue tops US$2bn in first eight months. Sri Lanka’s foreign exchange revenue from tourism rose to $2.17 billion in the first eight months of 2024 with a 66.1 percent jump from the same period last year while the arrivals also gained 50.7 percent, the central bank said, quoting tourism promotion authorities.

Sri Lanka’s tourist arrivals rose to more than 1.36 million visitors in the first eight months of 2024.

August arrivals were up 20.7 percent to 164,609, compared to the same month a year earlier.

Tourism accounted for nearly 5 percent of Sri Lanka’s economy when the sector was at its peak in 2018. Since then it has been hit by violent Easter Sunday suicide attack in 2019 and Covid-19 pandemic in 2020 followed by an unprecedented economic crisis.

Sri Lanka expects 2.3 million tourist arrivals in 2024 with an ambitious $5 billion revenue for the whole year.

Tourism earnings in August were estimated at $282.1 million, up from $210.5 million in the same month a year ago.

Tourist arrivals and revenue from tourism were expected to slow down after a new on arrival visa system through VFS Global. After the new system, foreign visitors who were earlier permitted to obtain a visa free of charge are compelled to pay a $21.61 fee for VFS Global.

The island nation’s leisure industry has protested the complex website which is putting off some users as well as higher fees.

The Supreme Court of the country has halted the new visa system temporarily after opposition parties filed a case citing failure to follow proper tender process. Since then, some tourism industry stakeholders have complained of difficulties in obtaining visas for foreign visitors.

President Ranil Wickremesinghe’s government has approved a ‘one chop system’ similar to Singapore for 38 countries with visa-free entry to Sri Lanka from this month to boost the arrivals.

The tourism earnings figure is estimated from a survey conducted by the Sri Lanka Tourism Development Authority.

Sri Lanka’s imports and the merchandise trade deficit have gradually picked up as tourism earnings came in and people in the sector spent the wages and other earnings.

Scrap Ministry of Investment Promotion immediately

When former president Ranil Wickremesinghe assumed office in July 2022, he set up a new ministry called, "Investment Promotion" and appointed himself as "Minister" and Dilum Amunugama as State Minister. Colossal waste of money was spent on ministry staff, overseas travel, entertainment, et al. This ministry is mandated to promote investment which is already been done by Board of Investment of Sri Lanka. Cannot comprehend why Wickremesinghe started this new ministry when he was merely a 'stand-in president' for a short period of 2-years. However, the new government of President Anura Kumara Dissanayake should scrap the Ministry of Investment Promotion entirely and let BOI manage investment promotion - as it has done since the early 80s.

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)

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

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