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Last Updated : 2024-05-21 02:39:00
18 February 2023 12:32 pm - 22 - {{hitsCtrl.values.hits}}
German companies operating in Sri Lanka have raised the red flag with some warning they will be compelled to withdraw from the country if the import ban continues, Daily Mirror learns.
Sri Lanka has slapped an import ban on several items owing to the shortage of US dollars, but Germany has urged the Government to relax the ban.
The German Ambassador to Sri Lanka Holger Seubert told a group of journalists in Colombo today that some German companies have raised concerns over the import ban.
He said that if the import ban continues for another 2 years then some companies may withdraw from the country. A number of German companies are operating in Sri Lanka and promote German products, including vehicle spare parts.
Just recently leading Japanese companies Mitsubishi and Taisei announced they will be scaling back operations in Sri Lanka owing to the economic crisis. Germany has also suspended issuing loans to Sri Lanka after the island declared bankruptcy.
However, the German Ambassador said that they hope the situation will improve once Sri Lanka’s deal with the International Monetary Fund (IMF) gets approved. Seubert said that there are also concerns over the overall business environment for German investors.
Discussions in this regard have been held with the Sri Lankan authorities, including the Board of Investment (BOI). (Easwaran Rutnam)
Suhada malli Saturday, 18 February 2023 12:40 PM
Dear Ambassador Why don't you look at this problem from another angle and see how you can contribute towards reducing the balance of payments issue? In simple language how can you support Exports to Germany from Sri Lanka? That in turn will support the argument to allow German imports.
Citizen L Tuesday, 21 February 2023 06:47 AM
It's neither his job nor priority unfortunately. His concern is for Germans, German businesses and Germany....
Suhada malli Saturday, 18 February 2023 12:43 PM
Allocate a quota say 2500 per year for Motatuwa GTZ supported German Tech motor mechanism technicians to get 4 year work permits in Germany. reciprocation can then be your case.
Mahila Saturday, 18 February 2023 02:46 PM
Very Good TRY indeed!!?? What happens then, German citizens' employment decreases!!?? Sri Lankans are cunning, think others are dumb!!??
Suhada malli Saturday, 18 February 2023 12:46 PM
Why don't you look at Hambantota as a transit hub for German vehicles? inflows in dollars to Sri Lanka in turn negotiate to allow German electric vehicles to be allowed into sri lanka
Joshua Saturday, 18 February 2023 01:36 PM
Alice in wonderland
Sunil Saturday, 18 February 2023 12:53 PM
Way to go! First it was Mitsubishi. Now some German companies will follow. This is the way to treat the dastardly pin president who is heinously suppressing the basic democratic rights of the people.
Joshua Saturday, 18 February 2023 12:57 PM
We are governed by bunch of rogues. Withdrawl is fair
Dee Saturday, 18 February 2023 01:07 PM
Don't they understand that we have much to important issues such as having elections. The economy and import can wait.
Sri Saturday, 18 February 2023 01:10 PM
Ranil will ruin the country before he stepp down .. He is so arrogant in politics..like his uncle do all Dirty tricks ..He think he is cleaver enough to fool the Sinhala people
Kev Saturday, 18 February 2023 01:14 PM
why does a country like srilanka need luxury german cars. Better focus on Hyundai and South Korea. They have already invested in a assembly plant too.
Alam Saturday, 18 February 2023 01:30 PM
No new thinking, old rusted thinking, open the country to investors, give free access to own land, do business, get multinationals to open with tax brakes, ask them to keep funds in the country, see Ireland. Jvp will do reverse, will be a Venezuelan nightmare.
Bernard Saturday, 18 February 2023 01:51 PM
Excellent move, do it overnight.
Ram Saturday, 18 February 2023 02:09 PM
Let them import anything they want using their forex income and give them a import duty concession when the imports are made from their forex. This can apply to all foreign entities and FTZ factories to import raw materials
Punchi Saturday, 18 February 2023 02:22 PM
They are operating here to support German equipment and automobiles sold here. Our loss due to our failure to build an economy by devoting our resources to fiction, subjugation and oppression.
Amar Saturday, 18 February 2023 02:35 PM
In Sri Lanka, politicians are elected blindly by the majority people, who for PACKET OF LUNCH AND A BOTTLE OF ARRACK, THEY VOTE. Rpaksha family is totally responsible for this CRISIS.
Benz is over-priced anyway better they be gone Saturday, 18 February 2023 04:59 PM
How many will suffer if Benz cars cannot get spare anymore. These threats by German companies is more blackmail for the political ideals. Their Ambassador wants for us to support Ukraine and condemn Russia. Better we disavow all Benz and other German products for this.
wsw Saturday, 18 February 2023 06:44 PM
Good, one of poorest countries on the planet can do without Mecs, and other luxury German automobiles. Give our ministers Indians vehicles.
Nihal S Sunday, 19 February 2023 01:05 AM
He said that if the import ban continues for another 2 years then some companies may withdraw from the country. Why wait 2 years???
Theja Sunday, 19 February 2023 09:35 AM
This is a direct threat to SL. While other motor companies from Korea and China are investing in SL at this point, it’s unfair for Germany to threaten to pull out. German products have anyway lost the market globally anyway and what happened to jaguar land rover will happen to them too.!
Nuwan Sunday, 19 February 2023 11:36 AM
Import bans are bad for countries. Exports depends highly on imports. When the local currency depreciates, imports slow down naturally because they are expensive. The exports become relatively cheap for the foreign countries. China deliberately devalue their currency for this reason. Sri Lanka is unable to benefit from this because many businesses work in informal markets for dollars, goods and services.
Mohan Rajan Sunday, 19 February 2023 04:17 PM
If SL offers free access to Land and less regulations to do business, along with less corruption - half the Indian small and medium scale Industries will set shop at SL. Anyway SL is a better country to do business than India
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