Indunil HEWAGE
The government has also taken measures to provide tax relief for investments in value addition in the Tea industry particularly to promote organic tea and local banks will provide concessionary loans for tea branding
Sri Lanka is set to reach a tea export turnover of $ 2 billion by 2015 and increase export earnings from value added tea to 75 % of total tea exports.
According to Export Development Board’s Tea industry Plan, Sri Lanka will increase export volume of value added tea to specialized value added tea to specialized markets such as USA, Canada, Japan and EU and will make market access to new markets in South America and Australia.
Sri Lanka in addition will review export Cess structure of tea to encourage value addition and existing duty exemption schemes for import packaging for Tea industry to reduce transaction cost.
The government has also taken measures to provide tax relief for investments in value addition in the Tea industry particularly to promote organic tea and local banks will provide concessionary loans for tea branding. The government in addition will negotiate with various countries for greater preferential access to Sri Lankan tea in foreign markets.
source - www.dailynews.lk
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