Increased car import to Sri Lanka

[mak]

According to the official data, car import to Sri Lanka increased 62% in last few months due reduce tax. Majority of these are Japanese used cars. 337,576 new vehicles had been registered up to August this year that is 53.3 percent increase from a year earlier.

However, it seems people expect a change in tax and regulation in next month's budget proposals. Many speculation about possible increase of tax and some restriction on car import to Sri Lanka to promote local production.

[William]

Do you have access to the official numbers to Canada ?

[jdmvip]

That's huge and great. Maybe the Sri Lankan government can teach the Canadian a government a lesson in free trade and Import

[Sastrad]

That's interesting news. For 99.9% of us exporters, the Sri Lankan market is a risk (not the right word to say, but not sure exactly what to say). The fact that business is done with LCs rather than TTs makes it a risk to the exporter, who must worry about the wording of the LC and then once its on the boat they'll get their money, thereby making this style of payment not appealing. However, obviously some exporters are doing extremely well since they've ventured into the LC genre of payment and really dominating. I guess I'm going to have to look at LC payment more seriously.

[mak]

I guess I'm going to have to look at LC payment more seriously.

Yes, please have serious look on LC process. More exporter will help us.