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(...) Korea introduced separate zonal prices in 2010, i.e. when purchasing power, IPPs (independent (gas-fired) power producers) were paid a marginal cost-based price (i.e. the bid price of the most expensive generator), except for nuclear and coal. For power generated by nuclear and coal, the tariff was a set base-load price, which was lower than the cost-based marginal price. (...)

Fees are charged on the consumption of electricity (3.7% of the consumption bill), to finance the Electric Basis Fund. This Fund was set up in 2001 after the Power Industry Structure Reorganization to achieve public objectives and to build infrastructure for sustainable growth of the power industry. Subsidies are given to, inter alia, the diffusion of electricity generated by renewable energy, the maintenance of the stability between electricity demand and supply, and R&D activities. The source of the fund includes interest accrued from surplus funds, surcharges and transaction fees for REC (renewable energy certificates).

Foreign investment in manufacturing in general is allowed, except for the manufacture and supply of fuel for nuclear power generation (Table 2.3). (...)

(...) Financial support of ₩100 billion is to be provided until 2019, with the aim of manufacturing the world's best eco friendly smart steel plates under the World Premier Materials project. To establish a "green steel industry", the Government is to provide ₩150 billion, representing 60% of the firm's total R&D costs (possibly from 2012) for eight years, to develop CO2-free technologies for the iron and steel sector.

To facilitate the development of "green cars" including electric vehicles (EVs), the Government plans to increase the number of public fast charging stations (building 1,400 units of EV charging stations by 2020 through public-private collaboration), diversify charging type and method, develop infrastructure for the construction of hydrogen filling stations, provide incentives (₩27.5 million per vehicle) to FCEVs (fuel cell electric vehicles), and encourage automakers to lower prices for FCEVs (by ₩85 million in 2015, and by ₩64 million in 2018).

Table A3.7 Domestic agricultural support notified to the WTO, 2011
(₩ billion)
Below de minimis level of 10%a
Green box assistance
Environmental programmes 516.08
(...)

This is the Fourth Trade Policy Review of Sri Lanka at the World Trade Organization (WTO). It is a historic occasion for Sri Lanka to present its Trade Policy Review to the WTO under the National Unity Government (NUG) which was established by the coalition of the two main political parties of the country. The NUG is in the process of introducing transformative reforms to the national economy to align it with the global economic direction while achieving the sustainable development goals declared in the Agenda of the United Nations Sustainable Development Summit held in 2015.

However, amidst all these developments and challenges, it is expected that with appropriate policies, the economy will return to a high growth path in the medium term while addressing the key constraints including low government revenue to GDP ratio, falling exports to GDP ratio and insufficient inflow of Foreign Direct Investments. Other structural and emerging challenges that confront the Government range from ensuring energy security, renewable energy development, bridging the skill development gap, issues of food security, low productivity and lack of diversification in agriculture, introducing diverse range of financial products and services and improving public transportation etc.

Sri Lanka strongly believes that it is of paramount importance to develop necessary infrastructure to facilitate the export sector particularly in view of establishing sustainable living environment. (...)

(...) Sri Lanka has also submitted its application to receive preferential treatment from the EU under the Special Incentive Arrangement for Sustainable Development and Good Governance of the EU Generalized Scheme of Preferences.