Tax on locally packed tea exported to Russia lowered

Rohan MATHES

COLOMBO: President Mahinda Rajapaksa who met Russian Minister for Economic Development and Trade German Gref at Temple Trees yesterday exchanged views on bilateral trade, Presidential Media sources said.

President Rajapaksa succeeded in reaching an agreement to lower the tax on locally packed tea exported to Russia, from 20 to 12.5 per cent within three years. It was also revealed that as a leading buyer of Sri Lankan tea, Russia had purchased around 30 per cent of Sri Lanka's total tea exports, amounting to around 53,000 MT.

A Russian Minister is visiting Sri Lanka after 24 years.