Business
‘Davos of the Tea Industry’ to attract 700 tea experts, scientists
By Ifham Nizam
The Colombo International Tea Convention, slated to run from July 24th to 26th, 2024, will see the participation of over 700 tea experts and scientists hailing from nearly 25 countries. Described as the ‘Davos of the Tea Industry’ by a tea expert, this gathering aims to focus on pivotal discussions shaping the tea landscape globally.
Ganesh Deivanayagam, Co-Chairman of the Colombo International Tea Convention, emphasized the event’s focal theme at a press briefing recently, that is, the evolving lifestyle dynamics surrounding tea consumption. He highlighted the necessity to adapt production and marketing strategies to accommodate the shifting preferences within various market segments while also addressing the crucial livelihood aspect, acknowledging the significant number of individuals reliant on tea for their sustenance.
Speaking to The Island Financial Review, Deivanayagam, said that the convention has the key and relevant theme at heart; which is addressing the lifestyle element of tea, which is fast changing and growing in certain market segments and may be stagnant or shrinking in others.
Responding to the query, `Are you satisfied with the Sri Lanka tea prices internationally?’ he said one can never be satisfied with the prices internationally. “But we can proudly say Ceylon Tea gets the highest prices by far compared to other origins such as India or Kenya who are large producers. This has been achieved through the hard work of the exporters towards value adding and marketing Ceylon Teas in over 120 countries and the producers fly maintaining and improving quality, he explained.
Tea Board chairman, Niraj De Mel, speaking to journalists in Colombo said that
the confab would bring together the biggest leaders and disruptors of the tea industry to inspire insightful conversation, hard hitting dialogue and fresh perspectives that will shape the future of tea.
The convention will cover the entire tea value chain from crop to cup with insights from producers from countries like Kenya, Sri Lanka, China and India, market perspectives from industry experts in countries like Japan, UK, GCC and U.S.A, consumer perspectives from the biggest global retailers, analysis from climate experts, innovations of leading brands, and organisations promoting social values.
The chairman also stressed that Sri Lanka tea due to its value added quality always remains around USD 1.5 high against other tea products worldwide.
He added: “Hence we expect revenue of around USD 1.5 billion from tea exports this year and hope to increase to USD 2 billion thereafter.”
“The Colombo Tea Traders’ Association, which is celebrating 130 years of bringing the tea industry together in best practices, has supported the Sri Lanka Tea Board to drive Ceylon Tea as a beverage of choice in the world. Already this year, leaders of the tea industry, from UK, U.S.A, Canada Japan, Russia, U.A.E. and Chile etc. have confirmed participation at this convention and we are excited to co-host this powerful global forum, Sanjaya Herath, chairman Colombo Tea Traders Association said.
Business
Cost-effective clearance of goods across borders to determine worth of Customs Paperless Declaration
By Ifham Nizam
The introduction of the Customs Paperless Declaration from October 1 could mark an important step in Sri Lanka’s efforts to modernise trade, but its real value will depend on whether it reduces the time and cost of moving goods through the country’s borders, Customs House Agents & Traders Association President Mohamed Niyas said.
Niyas warned that digitising Customs declarations alone would not necessarily translate into faster cargo clearance or lower costs for businesses.
‘Expecting a dramatic improvement in clearance speed under the present conditions is like expecting Ferrari performance from a Morris Minor configuration, he said.
For importers and exporters, the issue extends well beyond paperwork. Every additional hour or day that cargo remains in the clearance chain can have wider consequences for businesses, including increased port and storage-related costs, additional working-capital requirements, uncertainty over delivery schedules and disruptions to production and distribution.
Niyas said the competitiveness of Sri Lanka’s trading sector ultimately depended on how efficiently goods could move through the country’s border-clearance system.
‘The real bottleneck is not merely the absence of paper. It is the entire clearance ecosystem—the limitations of the existing ASYCUDA World system, excessive regulatory interventions by Other
Government Agencies, multiple approvals, physical examinations, manual interventions, fragmented processes and institutional constraints, he said.
He cautioned that unless these bottlenecks were addressed, there was a risk that the paperless initiative would merely digitise existing bureaucracy.
‘If these underlying constraints remain unchanged, there is a real risk that the new paperless system could become another “copy-and-paste road show”—where an old, complex clearance process is simply transferred onto a digital screen without fundamentally changing the process itself, Niyas said.
For businesses dependent on imported raw materials, machinery, components and other inputs, clearance efficiency can directly affect the wider supply chain.
Delays at the border can create uncertainty for manufacturers, distributors and retailers, while exporters can face difficulties meeting delivery schedules when imported inputs or export consignments are held up.
Niyas therefore argued that the success of the October 1 initiative should be judged by its impact on trade flows rather than by the number of declarations processed electronically.
‘Paperless does not automatically mean faster, he said. ‘Digitising a slow process does not make the process fast. It only makes the slow process digital.’
He said Sri Lanka needed to move towards what he described as “process-less Customs”—a system in which unnecessary procedures are eliminated rather than simply converted into electronic procedures.
Among the reforms he called for are simplification of Customs declarations and approval workflows, improvements to the functionality of ASYCUDA World, greater use of risk-based inspections and better integration of Other Government Agency approvals.
Niyas also called for the elimination of repetitive document submissions and physical endorsements, greater use of pre-arrival processing, sufficient capacity for digital document uploads and clearly defined service-level timelines for Customs and OGAs.
Business
China backs Sri Lanka’s Non-aligned stance to counter regional pressures
By Sanath Nanayakkare
As global attention has fixed on the high-level diplomatic choreography at the United Nations General Assembly in New York, a subtler, yet profound geopolitical signal was sent from Colombo, yesterday.
In a major address marking the founding anniversary of the People’s Republic of China, newly appointed Chinese Ambassador Wei Huaxiang chose to anchor bilateral relations not just in modern trade or infrastructure, but in a shared respect for Sri Lanka’s legacy of non-aligned independence.
By explicitly invoking Sri Lanka’s foundational role in the 1976 Non-Aligned Summit, Beijing was doing something unexpected in an era defined by fierce great-power rivalry: it was officially validating a small island nation’s right to maintain an independent foreign policy stance.
The Strategic Value of Independence
For decades, nations caught in the crosshairs of major-power competition have faced intense pressure to pick sides. Yet, Ambassador Wei’s embrace of Colombo’s non-aligned tradition signaled a different diplomatic playbook. Instead of demanding alignment, Beijing was framing its partnership as a reliable counterbalance to regional pressures. By honouring Sri Lanka’s diplomatic autonomy, China was effectively reassuring smaller economies that sovereign independence and robust economic cooperation can coexist.
Beyond Ports and Industrial Zones
This diplomatic framing reframed the narrative surrounding major collaborative ventures like the Colombo Port City and Hambantota Port. While foreign analysts often view these projects exclusively through the lens of strategic rivalry, Beijing’s diplomatic messaging tied them back to a historical ethos of solidarity—evoking memories of the 1952 Rubber-Rice Pact.
By marrying economic projects with a stated respect for non-alignment, China is positioning itself as a steadfast stakeholder that respects Sri Lanka’s internal agency during difficult economic and political seasons.
As both nations look toward major milestones in 2027—including the 70th anniversary of diplomatic ties—this nuanced diplomatic move revealed how historic traditions are being leveraged to navigate modern multipolar realities.
For global observers, the takeaway was clear: in the shifting architecture of Asian geopolitics, respecting a nation’s historical neutrality may just be the most effective way to secure a lasting partnership, a diplomatic masterclass that Ambassador Wei Huaxiang executed in style.
Business
Sri Lanka Insurance Life appoints Dr. Sameera Dharmasena Chief Executive Officer
Sri Lanka Insurance Life (SLIC Life), the nation’s largest and strongest Life Insurer, is pleased to announce the appointment of Dr. Sameera Dharmasena as its new Chief Executive Officer, effective 22nd September 2026.
Dr. Dharmasena is a distinguished insurance professional with over 21 years of experience in the Sri Lankan insurance industry, having held senior leadership positions across several leading insurance companies affiliated with some of Sri Lanka’s largest business conglomerates. His extensive career spans both local and multinational insurance environments, bringing together broad industry expertise, strategic leadership and a strong commitment to the advancement of the insurance profession.
-
News7 days agoShanakiyan urges urgent action over reported death sentence for Lankan in Saudi Arabia
-
News6 days agoNamal Rajapaksa Buddhist gambit fails, bail denied
-
Features6 days agoWhy the spelling Sri Lankan names in English vary
-
Features6 days agoThree bands, a new identity: Sri Lankan wolf snake recognised as distinct species
-
Business6 days agoSLIIT holds largest-ever convocation
-
News6 days agoVehicle prices drop by up to Rs. 1 mn, says importers’ body
-
News6 days agoGovt monitors reported Saudi death sentence – Foreign Ministry
-
Business6 days agoAll-new Bolero MaXX Pik-Up unveiled in Lanka
