Sri Lanka’s trade surplus is no problem, but protectionism is, EU diplomat says

The European Union has no problem with Sri Lanka’s large trade surplus with the region, an official said voicing objections against rising protectionism and import controls for the second time, saying global trade needs to be open amid a Coronavirus pandemic

Dec 08, 2020
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The European Union has no problem with Sri Lanka’s large trade surplus with the region, an official said voicing objections against rising protectionism and import controls for the second time, saying global trade needs to be open amid a Coronavirus pandemic.

In 2019 Sri Lanka exported 3.5 billion US dollars of goods to the EU (not counting EU tourists to Sri Lanka) which was 28.7 percent of total exports, and imported 1.68 billion dollars of goods which was 8.9 percent of the total.
 
Sri Lanka slapped a series of import controls in April 2020 after money printing and a so-called ‘flexible exchange rate’ put pressure on the currency and earned a credit downgrade.

https://economynext.com/sri-lankas-trade-surplus-is-no-problem-but-protectionism-is-eu-diplomat-says-76632/

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