Jul. 30, 2020 - In April 2020, in order to reduce the pressure on foreign exchange reserves and prevent the Sri Lanka rupee from depreciating too quickly, the Sri Lankan government announced a time-limited suspension of imports for certain imported products. Marble, granite, paint, plastic, sanitary ware, wood, food, clothing and other commodities are all included in the ban. Affected by this policy, the performance of related importers was frustrated. In order to alleviate the dissatisfaction of ceramic tile and bathroom importers, the Sri Lanka Ceramic Tile and TSIA was established locally.
TSIA pointed out that the temporary import suspension on ceramic tile and bathroom imports will have a knock-on effect on related industries such as warehousing and logistics, freight transportation, banking and finance, construction and real estate. It has an impact on the employment of many professional fields such as architects, engineers, surveyors, subcontractors and construction workers.
Due to the high cost of manufacturing energy and low return on investment, the investment environment in Sri Lanka is not conducive to the development and growth of the traditional building materials industry, and the market scale is relatively small. Therefore, the country chooses more imports instead of local manufacturing, and at the same time imported products also show obvious advantages in terms of quality and design.
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