Lifting of EU ban on Sri Lankan seafood exports provide billions in trade
The Minister of Primary Industries, Daya Gamage says that the European Union’s decision to lift the ban on Sri Lankan seafood exports in addition to once again receiving the GSP+ has provided trade opportunities worth LKR 7 billion for the island’s seafood sector.
Gamage noted that with the expected arrival of rain, the country’s circumstanced prawning industry will soon bounce back, promising low-interest bank loans to prawn farmers.
A fast-tracked aquaculture development programme has been initiated by the government with particular focus being made to the country’s northern and eastern regions, and the Ministry of Fisheries and Aquatic Resources Development has claimed that prawn harvests have been steadily increasing with 5,040 MTof aquaculture prawns harvested in 2014 increasing to 7,090 MT by 2015.
Sri Lanka lost the EU GSP+ facility during the previous administration over the failure to adhere to several international treaties the country had previously entered into.
However, the present government secure the GSP+ facility once again boosting trade between Sri Lanka and the EU.
OSL TAKE:
With the EU market opening a ready market exists for Sri Lankan seafood exports. Interested individuals have the option of investing in the country’s aquaculture sector and introducing innovations and techniques to develop the sector.
The Ministry of Fisheries and Aquatic Resources Development has already proposed the development of an aquaculture park as well. The fisheries sector is therefore definitely open for investments.
| Article Code : | VBS/AT/08092017/Z_3 |