The Sri Lankan Government is strongly defending its position in the controversial oil hedging case which is currently being examined by an arbitration panel in Singapore but a surprise witness to the proceedings on Wednesday was former Attorney General Shibly Aziz, official sources said.
The World Trade Organisation (WTO) says structural reforms are necessary for speedier growth in Sri Lanka, to take advantage of new trade and investment opportunities following the end of conflict.
WTO Director General Pascal Lamy, told the Business Times, that although Sri Lanka’s average tariff level is low compared to other South Asian countries, import duties and charges are still a trade barrier.
