Sri Lankan government announces Laksala’s new international agreements - Opportunity Sri Lanka
Sri Lankan government announces Laksala’s new international agreements

Sri Lankan government announces Laksala’s new international agreements

Sri Lanka’s State Minister of Batik, Handloom and Local Apparel Products Dayasiri Jayasekara has informed Parliament recently that a franchise bearing the “Laksala” name would be opened in several countries.
The State Minister has further stated that the agreements between some of the countries have already been signed.
“We have already signed the agreements between the United Arab Emirates. Today we will be signing the agreement with Japan, and by Friday (8) the agreement between Laksala and Great Britain will be signed. We will be charging the respective countries an annual premium for the franchise name which would be US$ 5000, and will be renewable every year,” Jayasekara has stated.
Agreements between Russia, Australia and China are in the pipeline.
The first agreement was signed between Laksala and an outlet in California. Two containers loaded with spices, batik, tea, handloom and miniature carved figurines are already en route to the United States.

OSL take:

Sri Lanka’s manufacturing and exports sectors have shown impressive growth momentum despite challenges posed by the global Covid 19 pandemic. The government of Sri Lanka is working towards promoting local products in the international markets. The many trade agreements and concessions enjoyed by the country have also helped boost Sri Lanka’s exports. With Sri Lanka building as a business hub in the region, foreign businesses/investors could explore the continuously growing opportunities in Sri Lanka’s exports sector.

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Article Code : VBS/AT/12102021/Z_4

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