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Friday, December 10, 2010 - 5.20 GMT
MoU on tea export with Iran

 
With regard to the main export item of tea from Sri Lanka, Iran agreed to study the inclusion of preferential tariff quota on annual basis for Sri Lankan tea.

Iran has agreed that part of the quota could be used for packaging of Sri Lankan tea in Free Trade Zones in Iran by Sri Lankan companies or as joint ventures formed with Iranian and Sri Lankan companies.

Cabinet approval was granted for signing of the Memorandum of Understanding (MOU) covering the decisions agreed upon by both parties.

The ninth Session of the Joint Commission for Economic Co-operation between Sri Lanka and Iran concluded in September 2010 in Colombo.

Iran is Sri Lanka's 6th largest trading partner recording a total value of two-way trade of nearly US $992 million in 2009.





 
                   
 
   
   
   
   
   

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Last modified: December 10, 2010.

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