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Thursday, April 29, 1999

Sri Lanka hopes to boost tea sales 

REUTER  
Colombo, Apr 28: Sri lanka's tea industry hopes to increase sales to Libya following the lifting of economic sanctions imposed by the United Nations on that country earlier this month, a leading broking firm said on Wednesday. "The tea trade in Colombo looks to the possibility of more regularised purchases of tea by Libya as well as an increase in the quantum," John Keells Ltd said in its weekly report.

UN Security Council sanctions against Libya were suspended on April 5 after secretary-general Kofi Annan officially confirmed the two Libyans accused of the 1988 Pan Am jet bombing over Lockerbie, Scotland, had arrived in the Netherlands. The sanctions, imposed in 1992 and tightened in 1993, included an air and arms embargo as well as a ban on some oil equipment. In addition, Libya's financial assets abroad were frozen but this excluded monies derived from oils sales after December 1, 1993. Sri Lanka has been the main supplier of tea to Libya, accounting for around 75 to 80 per cent of imports made by thatcountry.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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