Sri Lanka Tea Board chairman Niraj De Mel says that under a memorandum of understanding between Iran and Sri Lanka, Sri Lanka commenced the repayment of its USD 250.9 million fuel debt to Iran through tea exports on August 05.
He was addressing the press briefing titled “Two Years of Progress and Advancement” at the Presidential Media Centre yesterday (15).
As per the agreement, Sri Lanka aims to settle this debt through tea exports.
To date, Sri Lanka has repaid USD 55 million of this debt, he said.
In the first four months of 2024, Sri Lanka exported 4.1 million kilograms of processed tea to Iran, marking a threefold increase compared to the amount exported during the same period in 2023, said de Mel.
