November 2014

NEWS

SRI
LANKA
Embassy of Sri Lanka, Washington DC
A DEVELOPMENT ORIENTED
BUDGET FOR ALL CITIZENS IN 2015
level at 97 percent of the labor
force remains the employment goal
for 2020.
*Export industries have picked up
showing a 12 percent growth. Export
earnings are expected to generate
US$. 11,500 million this year.
*The Governments effort over the
last 8 years to promote IT as a major
industry is expected to raise foreign
earnings to about US$ 1 billion by
2016, while creating around 100,000
employment opportunities.

*The president announced a salary increase of Rs. 3,000 and upwards

is envisaged for
government employees with low salaries enabling
them to earn a minimum monthly salary of Rs 30,000.

*The Government is committed to

gain a higher Investment Grade
by reducing debt to GDP to below
60 percent, further strengthening
countrys macroeconomic environment by 2020. The transformation
process of the economy is evident
considering Sri Lankas progress
from a less developed country, with
a per capita of US$ 1,200 in 2005,
to a middle income country with US$
4,000 per capita.

*Nearly 50,000 persons were recruited to the health care sector. Including specialists, medical personnel, nurses and para-medical staff.
Their emoluments and incentives were revised, and expenditure for
pharmaceutical drugs, ambulances, and medical equipment to develop hospital facilities were increased

*Due to the measures taken by the

government, the Budget deficit has
been reduced to 5 percent of GDP
in 2014 and will target 4.6 percent
in 2015.

*The income growth and living standards among low income persons
had improved since 2012. The number of people living below the National Poverty Line has declined from 15.7 percent in 2006/07 to 8.7
percent in 2012/13.

*The Government revenue in 2015

is likely to be around Rs. 1,600 billion, with current expenditure of Rs.
1,400 billion.

* Unemployment among youth in the age group of 18-30 has declined

from 15.8 percent to 13.1, while rural unemployment has also declined from 7.8 percent to 4.5 percent. Sustaining an employment

Please find complete article at:

President Mahinda Rajapaksa presented the tenth budget of his term

on October 24, 2014. The 2015 budget is development oriented and
focuses on the needs of all citizens alike.
Among its key components of the proposal;

http://slembassyusa.org/?p=6225

NEWS - SRI LANKA: The Embassy of Sri Lanka

UNITED STATES SRI LANKA

TRADE AND INVESTMENT DIALOGUE

Senior officials of the Governments of the United States and

Sri Lanka met in Colombo from the 14th to 16th October,
2014, to continue their dialogue on trade and investment
issues and evaluate the progress under the Trade and Investment Framework Agreement (TIFA) between the two
countries. The officials discussed a wide range of issues including market access, the U.S. Generalized System of Preferences (GSP), labor, trade promotion efforts, intellectual
property rights, agriculture, and sector-specific investment
challenges. Two-way trade between both countries has now
reached USD 3 billion.
The U.S.-Sri Lanka TIFA, signed in 2002, is the primary forum for bilateral trade and investment discussions between
the two countries. The TIFA process has been the focal point
of a sustained and multi-faceted high-level engagement between the United States and Sri Lanka on trade and investment issues. Delivering the inaugural Address at the 11th
Joint Council Meeting of the Trade and Investment Framework Agreement (TIFA) in Colombo, Minister of Industry
and Commerce, Rishad Bathiudeen noted that due to the
visionary leadership of President Mahinda Rajapaksa, Sri
Lanka is now on a journey to achieve upper middle income
country status in the near future.
The TIFA process encourages public and private sector dialogue, facilitates Private-Public Partnership discussions as
well as business opportunities events being held simultaneously with TIFA official meetings. In this context, U.S.-Sri
Lanka Business Forum was held under the patronage of the
Ministry of Industry and Commerce, hosted by the America Chamber of Commerce (AmCham), Colombo and the
Ceylon Chamber of Commerce. It was followed by business
meetings with visiting US business delegates.
Addressing the Forum, Ambassador Prasad Kariyawasam,
Sri Lankas Envoy to the United States, said that being the
most liberalized nation in South Asia, the World Bank has
rated Sri Lanka as the best for business in the region. TIFA
provides an important platform for Sri Lanka to address
remaining challengers to get to the next level in economic
development. Head of the U.S. delegation, Assistant United
States Trade Representative for Central and South Asia, Michael Delaney said that United States is the largest customer of Sri Lanka, with U.S. importing $2.5 billion worth of

Sri Lankan products ranging from apparel, precious stones,

rubber, spices, and tea.
However, the trade and investment relationship between
the two countries is still far below potential and there is a
need for pragmatically review all of the specific problems
traders and investors are experiencing, with an eye toward
easing barriers, and grow trade and investment to create

Industry and Commerce Secretary, Anura

Siriwardena, Ambassador Prasad Kariyawasam,
Assistant United States Trade Representative, Michael
Delaney and Charge d Affaires of the US Embassy,
Andrew Mann addressing US-Sri Lanka Business
Forum in Colombo
more jobs. Anura Siriwardena, Secretary of the Ministry
of Industry and Commerce delivered the keynote address
and Suresh Shah, President of the Ceylon Chamber of
Commerce and Andrew Mann, Charge d Affairs of the US
Embassy in Colombo also addressed the gathering.
Assistant USTR Delaney delivered a public lecture on Role
of Economic Development in Fostering Solidarity at the
Lakshman Kadirgamar Institute of International Relations
and Strategic Studies. Later, he joined Industry and Commerce Minister Bathiudeen for the ceremonial launch of
Sri Lanka Peace Collection handloom products designed
by War Widows in Sri Lanka, a project assisted by the US
Government.
During the visit, the US delegation paid courtesy calls on
External Affairs Minister Prof. G.L Peiris, Economic Development Minister Basil Rajapaksa, Industry and Commerce
Minister Rishad Bathiudeen and Labour Minister Gamini
Lokuge.
Source: Embassy of Sri Lanka - Washington DC

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NEWS - SRI LANKA: The Embassy of Sri Lanka

RISING GLOBAL
SRI LANKA CELEBRATES
TWO YEARS
DEMAND FOR
WITHOUT MALARIA
CEYLON CINNAMON
Sri Lanka has not reported a local case of malaria
since October 2012. According to the Malaria Elimination Group (MEG), an international independent
advisory group on malaria, should Sri Lanka remain
malaria-free for one more year, the country will be
eligible to apply to the World Health Organization
for the malaria-free certification. This remarkable
success was achieved largely due to the end of the
protracted conflict in the country. As recently as year
2000, Sri Lanka reported over 100,000 cases of malaria.
MEG gathered in Colombo for its ninth annual meeting in Sri Lanka. The meeting brought together representatives from Ministries of Health from countries
in Asia and Africa who are plagued by the malariaendemic, representatives of the World Health Organization, and international health donors, including,
Bill & Melinda Gates Foundation, the Global Fund to
Fight AIDS, Tuberculosis and Malaria, the Australian
Department of Foreign Affairs and Trade, and the US
Presidents Malaria Initiative.
At the meeting, MEG signed the Colombo Declaration on Eliminating Malaria to affirm continued assistance to Sri Lanka and to call upon the Government of Sri Lanka to sustain financial and human
resources needed to maintain the gains.
The participants were briefed on Sri Lankas progress
since the 1960s when the country nearly eliminated
malaria, but then suffered a catastrophic resurgence.
Sri Lanka, today, is at cross roads. Determining
whether to maintain adequate resources and vigilance to achieve and sustain malaria freedom, or to
risk a second resurgence by losing focus on the benefits of the prevention of malaria re-introduction.
Today, the threat of re-emergence of malaria in Sri
Lanka is driven by travelers, both Sri Lankan nationals and foreigners, who carry the disease from other malaria-ridden countries, mainly in the region.
Strong surveillance systems, multi-sector engagement, and rapid follow-up and response on every
imported case will be critical to ensure that these isolated infections do not spread.
Source: Daily Financial Times

Ceylon Cinnamon (Cinamomum

Zylanicum) a plant indigenous to
Sri Lanka has acquired longstanding reputation in the international
market due to its unique quality,
colour, flavor and aroma. Ceylon
Cinnamon is known as true cinnamon.
The Ceylon Cinnamon belongs to the family of Lauraceae. Cassia, which is similar to Cinnamon but with
different characteristics, has become an acute competitor to true cinnamon.
Sri Lanka is the largest producer of Ceylon Cinnamon
with an annual production of 15,000 metric tons. The
unique method of processing and curing of cinnamon
entices the unique characteristic and flavor over Cassia. The preparation of cinnamon quills involved a
combination of art and skills only unique to Sri Lanka
and has been handed down from generation to generation over centuries.
At present, Sri Lanka is the worlds largest exporter of
true cinnamon with 97 % of the global market. Ceylon
Cinnamon renowned for its quality and medicinal values and the product is widely used as a food ingredient,
in the pharmaceuticals preparation and the cosmetic
industry worldwide. Being high in antioxidants, the
Ceylon Cinnamon is good for overall health as proven
by medical researches.
Sri Lanka Cinnamon industry is faced with a serious
challenge from Cassia which is low in quality and different from Cinnamon is marketed as true cinnamon.
To arrest this situation, Sri Lankan authorities, with
the assistance of cinnamon industry of Sri Lanka, are
in the process of obtaining Geographical Indication,
commonly known as GI certification from the World
Cont. on page 04

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NEWS - SRI LANKA: The Embassy of Sri Lanka

INDIA RELEASES POSTAGE

STAMP TO COMMEMORATE
THE 150th BIRTH
ANNIVERSARY OF
ANAGARIKA DHARMAPALA
The President of India, Shri Pranab
Mukherjee released a postage stamp to
commemorate the 150th birth anniversary of Bodhisatva Anagarika Dharmapala, at Rashtrapathi Bhavan on October 25, 2014.

President went on to pay his humble

homage to Anagarika Dharmapala
who worked selflessly all his life with a
missionary zeal to propagate Buddhist
ideals and to restore the glory of Buddhism.

Speaking on the occasion, the Indian

President expressed hope that this gesture by India will contribute towards
further strengthening the bilateral ties
between India and Sri Lanka and bring
the two nations closer. While reminding that historically, India and Sri
Lanka have remained natural allies,
the President added that the relations
between the two countries have withstood the test of time and social cultural exchanges for centuries have fostered
further close co-operation in various
fields.

Addressing the gathering, Minister of

Communication, Information Technology, and Law & Justice of India, Shri
Ravi Shankar Prasad also made reference to the tireless contribution of Anagarika Dharmapala towards the revival
of Buddhism in India. He also recalled
Anagarika Dharmapalas role at the
World Parliament of Religions in Chicago in 1893, representing Buddhism.

Recalling the contribution made by

Anagarika Dharmapala in his pioneering role in the Buddhist revival movement through a protracted struggle to
protect and conserve the foundations
of Buddhism in its place of birth. The

The stamp release today is a part of a

series of events organized both in India and Sri Lanka to commemorate
Anagarika Dharmapala, who founded
the Maha Bodhi Society in 1891, and
dedicated his life for the resuscitation of
Buddhist Heritage sites in India including Bodh Gaya, Sarnath and Kushinara.
He also established a slew of charitable
institutions, hospitals and schools.

Source: Sri Lanka High Commission New Delhi

RISING GLOBAL DEMAND FOR CEYLON CINNAMON .... (from page 03)
Intellectual Property Organization, for the Ceylon Cinnamon highlighting special characteristics of the Ceylon Cinnamon produced in Sri Lanka. . The main aim
is to differentiate the true cinnamon supplied by Sri
Lanka from Cassia to provide the consumer with the
unique and authentic product and fair value.
The Sri Lanka Export Development Board has also taken measures to register Pure Ceylon Cinnamon as a

certification mark in EU, USA, Colombia and Peru.

Currently, USA is the second largest market for Ceylon Cinnamon with an annual export turnover of over
US$ 16 Million. Due to enhanced awareness among US
consumers on the value of Ceylon Cinnamon, Sri Lanka has been able to increase its exports on Cinnamon
to USA by 14% in 2013 compared to 2012 and similar
growth momentum is witnessed for 2014 as well.
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NEWS - SRI LANKA: The Embassy of Sri Lanka

CNN
12 SRI LANKAN FOOD
VISITORS MUST TRY

The Teardrop of India or Pearl of the Indian Ocean

are among many nicknames for Sri Lanka.
But a more accurate description of the gorgeous nation might be the Island of Rice and Curry.
Making liberal use of local fruit, such as coconut and
jackfruit, seafood and an arsenal of spices, Sri Lankan
cooking delivers an abundance of incredible dishes.
Please find the complete article at:

http://www.cnn.com/2014/10/26/travel/sri-lanka-must-try-food/

CHIC AND STYLISH:

SRI LANKAS NEW
BREED OF HOTELS

Sri Lanka, the teardrop-shaped island that in 2009

emerged from more than a quarter century of war,
has staked claim as one of Asias most exciting new
destinations.
With the beaches of Negombo and Galle on the West
Coast and World Heritage-listed ancient cities, Sri
Lanka is experiencing a tourism boom. As the countrys tourism offerings have grown more sophisticated, so have its hotels. Here are a selection of the best:
Please find the complete article at:
http://cnn.com/2014/10/03/travel/best-new-sri-lanka-hotels/

We wish you a very happy Thanksgiving

filled with friendship and harmony!
Ambassador and the Staff of the Embassy of Sri Lanka
to the United States of America, Washington DC

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