April 24, Colombo (LNW): President Anura Kumara Dissanayake has announced that negotiations between Sri Lanka and the United States on amending trade duties imposed on Sri Lankan exports have concluded positively, marking what could become a crucial breakthrough for the country’s struggling export sector.
Addressing a spirited gathering in Ratnapura, organised by the National People’s Power (NPP), the President indicated that both governments are expected to release a joint communiqué in the coming days, signalling a new chapter in bilateral economic relations.
The initiative comes at a time when Sri Lanka is navigating a fragile recovery from years of economic instability and is increasingly looking to reorient its external trade relationships.
The discussions, led by Sri Lanka’s Deputy Minister of Finance and a high-level delegation, reportedly focused on revising tariff structures that have long been a point of contention, particularly those affecting key sectors such as garments and apparel—industries that form the backbone of the nation’s export portfolio.
The President emphasised that whilst tourism remains a promising avenue for growth, Sri Lanka’s current range of attractions remains underdeveloped. “We anticipate a record number of tourist arrivals in 2025, yet the country offers a limited experience to visitors.
This is why expanding access to underappreciated cultural and historical sites like Yapahuwa, Anuradhapura, Jaffna, and Trincomalee is crucial,” he remarked, adding that long-term prosperity would depend equally on enhancing export competitiveness.
President Dissanayake also hinted at growing unease over policy shifts in Washington that could potentially disadvantage Sri Lankan goods in the American market, particularly textiles—a sector that employs hundreds of thousands and generates vital foreign income.
“There were understandable concerns about how shifts in US trade policy could hurt our economy,” he said. “But the recent talks reflect a shared willingness to find mutually beneficial ground.”
According to the President, the US negotiations are part of a broader government strategy to diversify export markets and fortify Sri Lanka’s global economic standing.
The current administration has made clear its intention to distance itself from short-term fixes and focus on structural reforms that could yield more sustainable growth.
This recalibration in foreign trade policy comes amid Sri Lanka’s ongoing efforts to restore investor confidence, stabilise its currency, and reduce dependency on international bailouts.
Whilst the fine details of the expected trade announcement remain under wraps, government insiders suggest the deal may involve reductions or suspensions of certain punitive duties, easing access to the US market for Sri Lankan exporters.
With the public growing increasingly impatient for tangible economic improvements, the government is under pressure to demonstrate that its diplomatic overtures and domestic reforms are bearing fruit.
Should the anticipated joint statement confirm significant tariff concessions, it could offer a much-needed morale boost to an economy still reeling from the aftermath of a severe financial crisis.
As the President concluded his remarks, he reinforced his administration’s commitment to a more strategic and balanced development agenda—one that combines inward investment in tourism and infrastructure with outward-facing trade diplomacy.
In a climate of both hope and uncertainty, many in Sri Lanka will be watching closely to see whether these foreign engagements can translate into real gains on the ground.
