Browsing by Author "Tennakoon, U.A."

Now showing 1 - 3 of 3

Changes in the Trade Policy Regime in Sri Lanka
(University of Kelaniya, 2005) Tennakoon, U.A.
Sri Lanka has experienced a series of changes in its trade policy regime. The objective of this paper is to examine the changes of the Sri Lanka’s trade policy regime since the independence in 1948. At independence, Sri Lanka had relatively low import duties which were imposed mainly for revenue reasons and applied to a wide range of goods. However, from 1960 onwards, along with the inward-oriented development strategy based on the import substitution policy, both tariff and non-tariff barriers were extensively used to control imports for balance of payment reasons, as well as to protect domestic economic activities and industrial enterprises. These trade policies had adverse implications on overall economic growth of the country. The first break through towards trade liberalization in Sri Lanka began in 1977, when the country embarked on a series of economic reforms with the aim of switching from inward-oriented policies to outwardoriented policies. Trade policy reform was the key element of this policy package. Since then Sri Lanka’s external trade policy continued to focus on achieving a liberalized trade regime by rationalizing and simplifying the tariff structure, while progressively reducing quantitative restrictions. At the same time, measures were taken to liberalize the rigidities related to the exchange rate, finance and banking to provide the macroeconomic background for the success of trade liberalization.
Services trade liberalization: Opportunities and challenges for Sri Lanka
(University of Kelaniya, 2011) Tennakoon, U.A.
This paper examines the opportunities and challenges faced by Sri Lanka in the pursuit of liberalization of trade in services. Sri Lanka‟s Gross Domestic Product (GDP) grew by an impressive 8.0 per cent in 2010 over a relatively low growth of 3.5 per cent in 2009, thus moving on to a high growth path. This was the highest growth rate reported during the past three decades. The growth potential of the country has improved immensely with the end of the three decade long conflict, increased investor confidence, major infrastructure development drive raising production capacity of the country and recovery in the global economy. The service sector continues to be the driving force of economic growth in Sri Lanka accounting for 59 per cent of total GDP, 43 percent of employment and recording a notable growth of 8.0 per cent in 2010. Trade liberalization, private sector participation and increased competition have contributed to the expansion of the service sector. With the expansion of economic activity and recovery of the global economy, trade in services recorded a significantly higher surplus during 2010. The services account, mainly consisting of transportation, travel, communications, computer and information, construction and insurance services registered a surplus of US dollars 698 million during 2010. All sub-sectors of the services account performed remarkably well during the year, showing the country‟s potential to achieve a steady growth in coming years. Since the service sector represents the fastest growing sector of the economy, it is important to identify strategic opportunities and key challenges that may arise from service trade liberalization. The modernization of the service sector with necessary domestic policy reform is essential to improving the economy's productivity and thus its international competitiveness.
Suicide by suffocation with a plastic bag
(Ceylon Medical Association, 1998) Tennakoon, U.A.; Jayawardena, H.
Death by suffocation using a plastic bag has not been recorded in Sri Lanka. We report such a case here. Findings at the scene, the history, and autopsy and laboratory investigations assisted in arriving at the conclusion of suicide.