From SL Mirror
Prices for Sri Lankan spices in the Indian market have declined sharply following an unprecedented reduction in tariffs imposed by New Delhi on spice imports from other countries in the region, reports say.
India has reduced the tariffs due to Sri Lanka’s having disregarded a warning over its continuous abuse of the tariff-free spices export facility to India.
Indian authorities made the warning when Industries and Commerce ministry officials visited New Delhi last month to discuss the ETCA agreement.
The matter was also raised during the Sri Lankan prime minister’s visit to India and the Indian foreign minister’s tour of Sri Lanka.
The warning was given over the re-exportation of arecanuts which Sri Lanka imports from Indonesia.
In charge of granting the export approval for arecanut exports to India under the Indo-Lanka FTA, during the previous government and the present regime too, is the ministry under Risath Badurdeen.
Most of the responsibilities under the Department of Commerce with regard to the issuance of licenses to re-export arecanuts have been taken over by Badurdeen’s ministry under the present administration.
The Ceylon Chamber of Commerce has made repeated warnings, but to no avail, to the political authority that this arecanut racket could adversely affect spices and other exports to India.
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