Sri Lanka is strategically located at the cross roads of both east and west sea routes and serves as the point of entry to South Asia.
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According to the Lloyds Register the Colombo Port ranks as No. 01 port of South Asia and the 26th in the World. Features include; |
The Colombo Port offers:
Work is also in progress to develop and upgrade the port of Galle located in the south and the port of Trincomalee on the north east coast of Sri Lanka.
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Sri Lanka will be developed as a major Global Logistics Hub in the South Asian region for trade, investment, communications, and financial services. Known as the Colombo Freeport, it will provide integrated air, sea and road services linked to state of the art distribution parks.
Key Features of Colombo Freeport
Key Activities of Colombo Freeport
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In the EIU s country forecast, Sri Lanka s overall score in the business environment rankings improves from 4.99 for the historical period (1997-2001) to 6.03 for the forecast period (2002-2006). The country s global ranking improves from 49th to 45th and its regional ranking moves from 14th to 13th in comparison to the historical period.
The higher rankings are indicative of the more attractive investment climate in the country, with Sri Lanka s score in most of the categories used to evaluate the business environment improving significantly. For instance, Sri Lanka is ranked highly for its liberal approach to foreign investment, with its global & regional rankings moving from 36th to 27th (out of 60 countries) and 8th to 4th (out of 16 countries) respectively. From a regional perspective, the country s main advantages centre on its open foreign investment regime, its commitment to private enterprise & competition & its liberalized trading environment (where it is ranked 5th).
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The Indo Lanka Free Trade Agreement clearly demonstrates the political goodwill and commitment between India and Sri Lanka. The agreement creates multiple investment opportunities for local and multinational firms based in Sri Lanka seeking to enter the Indian market. The underlying premise of the agreement is to create a free trade area through the complete or phased elimination of tariffs, which will occur over defined phases.