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| Sri Lanka - Luxembourg
Relations
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Post Independence Relations |
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Sri Lanka established diplomatic relations with Luxembourg
on 27 July 1972. Sri Lanka’s Ambassador in Brussels is concurrently accredited to Luxembourg.
Sri Lanka has worked together with Luxembourg and found
common ground in multilateral fora. Sri Lanka, as the current Chair
of the SAARC, is committed to cooperate proactively to face common challenges.
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Trade with Sri Lanka
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Sri Lanka’s total trade turnover with Luxembourg, which stood
at US$ 0.219 Mn. in 2006, has decreased to US$ 0.119 Mn. in 2007.
Further, the balance of trade with Luxembourg has been unfavorable
to Sri Lanka except in 2005 and 2006 (Table 1). Luxembourg has been
identified as a potential market to promote Sri Lankan gems & jewellery.
Gem imports from Luxembourg to Sri Lanka have been made free of duty and other levies.
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Articles of goldsmiths´ or silversmiths´ ware and parts
have been the main items of export from Sri Lanka to Luxembourg,
which accounts for 52% of the total value of Sri Lanka’s exports to
Luxembourg in 2007. Other items of exports to Luxembourg are sacks and
bags, wood parquetry and inlaid wood. (Table 2)
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Imports of taps, valves and appliances for pipes,
boiler shells from Luxembourg accounted for 57% of the value of total imports
from Luxembourg in 2007. Other import items from Luxembourg are flat-rilled
products of iron or non alloy steel of a width of 600 mm or more,
self-adhesive plates, sheets, foil, tape, strip and other shapes etc.
The value of total imports from Luxembourg to Sri Lanka has fluctuated
during the period 2002-2007. (Table 3)
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Investment in Sri Lanka |
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An Investment Promotion and Protection Agreement
has been signed between Sri Lanka and Luxembourg. An Agreement
on the Recognition of Certificates of Competency and Training of
Seafarers for Services on Board Vessels between the Directorate of
Merchant Shipping of Sri Lanka and the Commissariat Aux Affaires Maritime
of Luxembourg was also signed in June 2006.
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