Business
US$ 55 million of the USD 250.9 million debt to Iran has been paid through tea exports – Chairman of Sri Lanka Tea Board.
Sri Lanka Tea Board Chairman, Niraj De Mel said that under the Memorandum of Understanding between Iran and Sri Lanka, Sri Lanka commenced the repayment of its USD 250.9 million fuel debt to Iran through tea exports commencing last August 05.
As per the agreement, Sri Lanka aims to settle this debt through tea exports and as at date, Sri Lanka has repaid USD 55 million.
In the first four months of 2024, Sri Lanka exported 4.1 million kilograms of processed tea to Iran, marking a threefold increase compared to the amount exported during the same period in 2023.
De Mel made thus revelation addressing the press briefing titled “Two Years of Progress and Advancement” held at the Presidential Media Centre on Monday (15),