German companies concerned

As many foreign investors opting to withdraw their operations in Sri Lanka, German companies operating here, too, have raised concerns and warned that they would be compelled to withdraw from the country if the import ban continues, German Ambassador to Sri Lanka, Holger Seubert, said.

Ambassador Seubert told the media on Saturday that some German companies, operating in Sri Lanka have raised concerns over the import ban. Sri Lanka, imposed an import ban on several items owing to the shortage of US dollars, but Germany has urged the Government to relax the ban.

Ambassador Seubert said that if the import ban continues for another two years then some companies would withdraw from the country. A number of German companies are operating in Sri Lanka and promote German products, including vehicle spare parts.Ambassador Seubert said that there are also concerns over the overall business environment for German investors.