2014 Budget: TEA wants more recognition
Tea export revenue this year will surpass last year's figures with an
income of around US$ 1.7 billion by the end of the year, Tea Exporters
Association (TEA), President Rohan Fernando said.
 He said that tea export performance has been good this year despite
many global challenges especially the crisis in the Middle East which is
a big market for Ceylon Tea.
The Tea Exporters Association of Sri Lanka (TEA), is an umbrella body
representing major tea exporters. The Association in its proposals for
the 2014 Budget has called upon the government to provide exporters
duty-free vehicle permits. The exporters look forward to at least two to
three duty free vehicle permits for 30 of the top exporters.
“Providing this facility will benefit tea exporters who make a
salient contribution to the economy. It will be good if the government
could consider providing such a facility to exporters in recognition of
their contribution to the economy,” Fernando said.
TEA has also called upon the government to introduce a simplified and
transparent tax structure for the tea export industry instead of a range
of taxes and also promote value-added tea exports.
Tea exporters are confident they could achieve the US$ 5 billion
target by 2020 with a strategic plan to boost export revenue.
“We need to capture and retain our share in traditional markets and
capture new markets,” Fernando said.
TEA has called upon the government to provide assistance to tea
export companies to invest in modern technology to enhance
competitiveness and productivity and also lift taxes, such as PAL on
imported items such as machinery and parts for value-added exports.
The Association has proposed that tea exporters be recognised as a
separate entity that would help them export without being subjected to
harassment at the Customs abroad.
Tea export revenue last year was around US$ 1.5 billion. Sri Lanka is
one of the largest exporters of tea after China and India. Sri Lanka
exports around 300 million kilograms of tea a year of which around 40
percent is value-added exports.
LF |
