South Africa might reduce tariff on Lankan tea
South Africa, the second-biggest trading partner of Sri Lanka in the region, is likely to reduce tariffs on Sri Lankan tea for a period of around three years, reported the Daily Mirror
South Africa, the second-biggest trading partner of Sri Lanka in the region, is likely to reduce tariffs on Sri Lankan tea for a period of around three years, reported the Daily Mirror. The outgoing South African high commissioner hinted at the possibility.
Addressing a seminar on “Sri Lanka- South Africa Business Promotion,” South Africa’s high commissioner Robina P Marks said her country would consider lower tariffs in the spirit of supporting developing countries.
“We would consider, a request to lower the tariff for a period of time not exceeding three years, to grant some relief to Sri Lanka in the spirit of supporting developing countries, become sustainable as they can be,” the high commissioner was quoted as saying by The Daily Mirror.
However, she also emphasized the need for a more balanced trade relationship between the two countries. “Even though national interest is important to all countries. We do want a more balanced trade between Sri Lanka and South Africa,” she added.
South Africa is the biggest importer for Sri Lanka, and also the second-largest export destination for Sri Lankan goods in the continent. Bulk tea, apparel, and rubber product are Sri Lanka’s major export to South Africa.
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