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Sri Lanka seafood exports dive 36-pct in first half after EU ban

ECONOMYNEXT – Sri Lanka seafood exports dived 36 percent to 85.8 million US dollars in the first six months of 2015, following ban by the European Union, official data showed.

The Central Bank said exports of fisheries products to the EU fell 72 percent in June 2014 from a year earlier. But exports to non-EU markets picked up 18 percent.

June exports of total fisheries products fell 26.7 percent to 13.5 million US dollars from 18.4 million a year earlier.

Sri Lanka’s fish exports was banned after the country was unable to convince the EU that is was taking sufficient steps to counter illegal fishing by unidentified vessels suspected to be originating from the island.

Sri Lanka is setting up a vessel monitoring system to satisfy EU requirements. (Colombo/Aug21/2015)

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