President presents budget for 2014 in parliament; IMF expects 6.5% growth in Sri Lankan economy; Indian naval chief visits Sri Lanka; Indian Coast Guard apprehends 22 Sri Lankan fishermen; Sri Lanka to allow tariff-free imports on ten categories of Indian
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  • (NOVEMBER 18-24)

    According to reports, Sri Lankan President Mahinda Rajapaksa in his capacity as the Minister of Finance presented the budget for 2014 in parliament. The budget proposes an amount of Sri Lankan Rs 1.542 billion for government expenditure for the next year while aiming for more than 7.5 percent annual economic growth in the next three years. The government expects to boost the economic growth while reducing the budget deficit to 5.2% in 2014, to 4.5% in 2015, and to 3.8% by 2016. 1

    However, according to reports, the Marxist party Janatha Vimukthi Peramuna (JVP) led National Trade Union Center (NTUC) in Sri Lanka has noted that the government's 2014 Budget has failed to provide any relief to the people. 2 Sri Lanka's main opposition United National Party (UNP) has also said that the government did not consider voices of the average citizens in drafting the 2014 Budget. Nevertheless, UNP has commended government's move to bring down the budget deficit. 3

    In another development, according to reports, the International Monetary Fund (IMF) has said that Sri Lanka has shown a solid performance in the face of recent external conditions and the measures taken to achieve the macroeconomic stability are commendable. Addressing a media conference in Colombo on November 18, IMF's Deputy Managing Director Naoyuki Shinohara said the government however, still needed to build a policy buffer to address unexpected events. The IMF expects Sri Lanka's economy to grow 6.5 percent this year and continue for the next year. 4

    Reports noted that Chief of Naval Staff of the Indian Navy, Admiral DK Joshi visited Sri Lanka to attend the Galle Dialogue-2013 on November 25, 2013. 5

    According to reports, Indian Coast Guard apprehended 22 Sri Lankan fishermen for allegedly fishing in Indian waters off Krishnapatnam in Andhra Pradesh. The Coast Guard has also seized four boats along with the Sri Lankan fishermen reportedly in a "sea-air coordinated operation" on November 23 and 24. 6

    Government of Sri Lanka has reportedly allowed tariff-free imports on ten categories of Indian goods, which had hitherto remained in the negative list under the Indo-Sri Lanka Free Trade Agreement. These items include pectic substances (sugar like chemical substance found in certain fruits used for making jellies and jams) Agar-agar, Mucilages (food thickeners), pet food , dental floss, trade advertising material, corrugated sheets, tiles, hard rubber, plastics, combs, hair slides etc. In addition to these ten categories imported from India, the Government has removed 208 other items from the negative list of the South Asia Free Trade Agreement (SAFTA) applicable to all the countries in the South Indian region. 7

    Reports noted that the five Russian naval ships of the Pacific Fleet "Admiral Panteleyev", "Peresvet", "Admiral Nevelsky", "Fotiy Krylov" and "Pechenga" arrived at the Port of Colombo for replenishment and crews' relaxation. 8

    Reportedly, the Human Rights Commission of Sri Lanka (HRCSL) has decided to conduct a national inquiry into the alleged human rights violations in Sri Lanka with technical assistance of Commonwealth Secretariat. 9

    In other developments, according to reports, Sri Lanka was unanimously elected to two Committees of the United Nations Educational, Scientific and Cultural Organization (UNESCO): the 24 member Headquarters Committee and the Intergovernmental Committee for Promoting the Return of Cultural Property to its Countries of Origin or its Restitution in Case of Illicit Appropriation (ICPRCP) for a four year term until the 39th session of the General Conference in 2017. 10

    According to reports, Sri Lanka’s Permanent representative to the United Nations (UN) Ambassador Ravinatha Aryasinha delivered a joint statement at the Second Annual Conference on South-South Cooperation on Intellectual Property and Development on November 22 on behalf of the G-15. In his statement, Ambassador Aryasinha has reiterated Sri Lanka’s call to promote South-South Cooperation in the field of intellectual property for development. 11

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