Sri Lanka to allow tea, coconut imports
ECONOMYNEXT – Sri Lanka will allow tea and coconut to be imported into the country, to be exported after adding value, Finance Minister Ravi Karunanayake said.
"There was demand for us to relax rules so that teas can be imported to Sri Lanka," Karunayake said presenting a budget for 2016.
"This will help Sri Lanka establish itself as a global hub for tea, like Dubai," he said.
However pure Ceylon Tea label will strictly administered, he said.
The Sri Lanka tea industry is bleeding red on high production costs and falling prices, he said.
The minister said coconut import restrictions will be lifted as well for value addition, but will be subject quarantine, he said.