LKCSE Colombo Stock Exchange Close
  • Current Exchange
    Colombo Stock Exchange LKCSE

Market time
Black
White

Send This Page To Friends and Colleagues

You can Enter more than one email separated by (,)
Allowed 100 characters only
23 October, 2014 09:32 AM Source: Financial Times - Sri Lanka
aluminum goods.jpg

Alufab, a leading aluminium products manufacturer and supplier, asserts the local industry is negatively impacted with the inflow of cheaper materials from giants India and China.
In the company’s latest annual report that was released last Friday (17), Alufab Chairman P. J. Claesson Claesson shared that stiff competition was experienced from new entrants from India and China, who made inroads into projects for which the company had competed. He noted that with most of the major new construction projects enjoying duty free facilities, Alufab could not compete with lower-priced products from these two major source markets. “These countries, with their advantages of scale, ability and willingness to meet any budget, coupled by the lack of standards and codes of practice in the nation, are making Sri Lanka a good dumping ground,” said Claesson.
He charged that while the Free Trade Agreements (FTAs) have failed to provide any significant benefits to local industries, the authorities should have taken into account possible impacts on the local industry.
“The authorities should have the ability to foresee the challenges to industrial development and help consolidate its small and medium enterprises and local industry without totally depending on imports that take away the local jobs and do not add to the local knowledge base. For any tangible benefits to accrue to the company and the industry, there has to be some form of encouragement and protection of local industries,” he stated.

Read Original Article

Add Comment | 0   comment

Readers Comment

Nothing found to display
page number 1

Add Comment

Please login first to comment Click here to login

Stocks in Focus


Features for Registered Users

E-mail Alerts
Daily Newsletter
Your Watchlist
Advanced Tools
and
Many more


Will automatically display the last quotes you have visited here.

All Rights Reserved - DUInvest © 2014

Login

Do You have an Account ? , Click here to create a new account

Your Opinion Matters

What do you think about the new Website?