Malta's High Commissioner met Sri Lanka's Export Development Board chairman on Dec 27 to discuss strengthening bilateral trade, with Malta expressing interest in sourcing Sri Lankan rubber for entry into the EU market. Talks also covered expanding exports and cooperation in IT, boatbuilding, manufacturing, tea and tourism, and exploring FDI.
TourismExportersTea & Plantation CropsIT & Digital
The piece urges integrating climate action into Sri Lanka's trade policy to protect agriculture, tourism and manufacturing from climate risks and to expand exports of green goods and services, noting WTO estimates of EREG +5% and EPP +14% growth by 2030.
DFCC Bank promoted its award-winning iConnect digital payments and cash management solution to Sri Lanka's tea industry at a Power Breakfast, demonstrating how it can streamline operations and optimise cash flow for businesses from SMEs to larger firms.
Hunas Holdings sold its 90% subsidiary Rainforest Tea Factory for 1.215 billion rupees (≈256 million rupees cash and ~960 million rupees of debt transferred); completion expected by Jan 31. The company said the divestment will strengthen its balance sheet and support a shift into the leisure sector.
Hatton Plantations PLC's Abbotsleigh Tea Estate produced and sold 2,029,990 kg in 2024, the highest quantity by a High/Medium-category factory. The estate, Hatton Plantations' prime property, sells prime CTC high-grown teas under the well-known "Florence" mark locally and internationally.
Everbolt Engineering won three awards at the Western Provincial Entrepreneur Awards 2024: Silver for Best Entrepreneur (Overall winner) and Golds for Best Innovative Enterprise and Best Enterprise of Service Sector (medium). The Colombo-based electrical engineering firm offers industrial automation, web-based solutions and has diversified into organic food products.
IT & DigitalConsumer Staples (FMCG)Tea & Plantation Crops
Everbolt Engineering Ltd. won three awards at the Western Province – Entrepreneur Awards 2024: Silver for Best Entrepreneur of the Year (Overall), Gold for Best Innovative Enterprise, and Gold for Best Enterprise of the Service Sector (Medium category). The electrical engineering and industrial automation firm holds ISO 9001:2015 certification and has diversified into organic herbal tea and FMCG products.
IT & DigitalTea & Plantation CropsConsumer Staples (FMCG)
Argument that Sri Lanka must pivot from a consumption-driven economy (with an $8bn trade deficit) to innovation-led growth, proposing measures such as a $500m sovereign innovation fund, tech hubs, R&D tax breaks and startup visas targeting IT, agri-tech and renewables. Targets cited include raising digital exports from $1bn to $5bn by 2030 and creating 1 million tech and renewable jobs by 2030.
Fuel & Energy PricesTourismExportersRenewable Energy
The Export Development Board hosted a networking and knowledge-sharing session for 50 women entrepreneurs under its Women Entrepreneurship Development Program; Malwatte Valley Plantations PLC Executive Director Christopher Fernando participated as a speaker.
Dilmah Ceylon Tea Company PLC appointed Anil Dias as a Non-Executive Independent Director and Chairman of the Board Audit Committee effective 1 January 2025. Dias is a finance professional with 40 years of experience, including senior roles at Coats PLC and board positions in Sri Lanka.
Senthilverl Holdings increased its stake in Kotagala Plantations to 33.86 million shares (10.004%) by buying 1,060,811 shares at Rs9.10–9.40, the CSE filing said.
Asia Siyaka Commodities Plc acquired control of fertilizer startup AgriOne Solutions, spending Rs178.5m and committing a further Rs76.5m (total Rs255m), and will provide Rs1,000m in corporate guarantees for AgriOne's import loans. It holds 55.87% now, which will fall to 51% after other investments.
Dr. T. Senthilverl raised his stake in Kotagala Plantations PLC to 10.0047% after acquiring 1 million shares via Senthilverl Holdings, becoming the second largest individual shareholder. The purchases were at about Rs. 9.10–9.40 per share and the stock closed at Rs. 9.10 yesterday.
EDB held a networking and knowledge‑sharing session for 50 women entrepreneurs under its Women Entrepreneurship Development Program at the EDB‑NDB Tower, featuring industry speakers from Ceylon Natural Rubber, Akbar Brothers and British Cosmetics on sustainability, market entry and legal/labour issues.
The Export Development Board and Fairtrade Network held a December 2024 stakeholders' meeting to advance a Framework of Cooperation aimed at expanding market access for Fairtrade tea, coconut, spices and handicrafts. Around 72 export companies and nearly 28,000 farmers participate in Fairtrade, which generated about €1m in exports in 2022.
Evergreen Group produced and sold 9,896,378 kg of tea in 2024, the highest quantity by any group in Sri Lanka. The group operates 13 factories, employs over 4,000 people and sources green leaf from around 30,000 smallholders; its factories hold RA and ISO certifications.
A policy paper by the Friedrich Naumann Foundation says Germany’s Supply Chain Act could drive Sri Lankan tea exporters out of the German market by raising compliance costs (audits and due diligence). Germany was the 12th largest destination for Ceylon tea in 2023, and the paper warns exporters may shift to less-regulated markets.
The Export Development Board and Fairtrade NAPP held a Colombo stakeholders' meeting to advance a Framework of Cooperation (signed Jan 2024) aimed at expanding market access and boosting Fairtrade exports of tea, coconut, spices and handicrafts, supporting ~72 firms and 28,000 farmers.