April 14, Colombo (LNW): Sri Lanka’s tourism industry has continued its upward trajectory, welcoming 56,567 international visitors between April 01 and 09, 2025, according to the latest data released by the Sri Lanka Tourism Development Authority (SLTDA).
The figures signal a promising continuation of the sector’s recovery, following a prolonged slump triggered by the economic crisis and global travel disruptions in recent years.
During the first nine days of April, India remained the most significant contributor to tourist footfall, accounting for 18.7 per cent of arrivals. The United Kingdom followed with 13.6 per cent, while Russia secured third place with 10.9 per cent.
A notable number of visitors also arrived from Australia, Germany, France, and Bangladesh, reflecting growing diversification in the country’s appeal across multiple regions.
Daily arrivals throughout this period fluctuated between 5,634 and 6,934, peaking on April 05. The steady flow suggests renewed traveller confidence and the effectiveness of targeted promotional campaigns rolled out by Sri Lanka’s tourism authorities.
From January 01 to April 09, the total number of international tourist arrivals reached 778,843—a solid start to the year, building on the momentum carried over from late 2024.
Meanwhile, tourism revenue has mirrored the upward trend in arrivals. In March 2025 alone, earnings reached US$ 354 million, equivalent to Rs. 104.8 billion. This figure marks a 4.6 per cent increase from the previous month, and a year-on-year rise of the same margin when measured in rupee terms.
These gains underline both improved tourist spending patterns and the gradual strengthening of local tourism infrastructure.
Cumulatively, the first quarter of 2025 has generated US$ 1.12 billion in tourism-related income—an increase of 9.4 per cent compared to the same period in 2024.
This growth reflects not only higher visitor numbers but also strategic efforts to enhance high-value tourism experiences, including boutique travel, wellness retreats, eco-tourism, and heritage-focused itineraries.
Industry observers have welcomed the figures as an encouraging sign that Sri Lanka is reclaiming its place as a premier South Asian travel destination. However, they also note that sustained investment in infrastructure, environmental conservation, and security will be vital to ensure the industry’s resilience and long-term viability.
Looking ahead, officials have indicated that further campaigns will be launched across Europe and Asia to tap into emerging markets and seasonal travel patterns.
With global travel picking up pace and Sri Lanka’s natural, cultural, and culinary offerings once again gaining visibility, the tourism sector is poised to play a pivotal role in national economic recovery and employment generation in 2025 and beyond.
April 14, Colombo (LNW): Opposition Leader Sajith Premadasa extended warm wishes to Sri Lankans across the world in his Sinhala and Tamil New Year message, encouraging the nation to embrace the festive season as an opportunity for togetherness, reflection, and shared renewal.
In his message, Premadasa spoke to the deeper meaning of the New Year, describing it as more than a cultural tradition—it is, he emphasised, a moment for inner transformation and communal bonding, rooted in centuries of harmonious living between people and the natural world.
He called for the spirit of the season to be a guide, urging citizens to recommit to values such as discipline, gratitude, and empathy. “This is a time that reminds us not only to celebrate, but to pause, reflect, and move forward with kindness and clarity,” he said. “It is a season that draws attention to the enduring link between humanity and nature, and invites us to appreciate the human relationships that sustain our lives.”
Premadasa did not shy away from acknowledging the difficulties that continue to challenge the country. Citing both persistent and emerging hardships, he encouraged the people to step away from divisions and short-sighted ideologies in order to forge a more inclusive and resilient path.
“As we step into a new year, it is clear that we are still grappling with the consequences of past missteps, as well as the weight of new obstacles,” he stated. “But we must meet these challenges with a spirit of solidarity and mutual understanding, setting aside what divides us and coming together with a renewed purpose.”
His remarks sought to transcend partisan politics, instead focusing on the broader national interest. Addressing all Sri Lankans, including those living abroad, Premadasa urged for a collective recommitment to a brighter, more harmonious future.
“We must envision a new chapter marked not just by celebration, but by action—where we move forward as one people, with a shared sense of duty and aspiration,” he said. “Let us dedicate this New Year to building a nation founded on happiness, unity, and equal opportunity for all.”
His message closed with an appeal to conscience and collaboration, reflecting a call for national healing through cooperation and civic strength.
Full Statement:
“It is with great pleasure that I extend my heartfelt wishes to the beloved people of our nation as we celebrate the Sinhala and Tamil New Year—a cherished cultural tradition of all Sri Lankans. Since ancient times, our people have marked the sun’s transition from Pisces to Aries as the beginning of a New Year, also known as the Solar Festival. This season symbolizes abundance: trees bear fruit, harvests flourish, granaries overflow, and a sense of renewed hope and prosperity fills every heart.
The Sinhala and Tamil New Year is more than a festive occasion—it is a time that encourages us to act with discipline, uphold gratitude, and recognise the deep bond between humanity and nature. It also reminds us of the value of strong human relationships and inspires us to set aside differences and move forward with renewed spirit.
As we enter this New Year, we are met with both ongoing and emerging challenges. Overcoming these and leading our country toward progress is a shared duty. In doing so, we must rise above narrow ideologies and divisions. By understanding the true spirit of this celebration, let us join hands in unity and resilience to face these challenges together, and step into a New Year marked by peace, joy and prosperity.
Together, as one nation, let us navigate the road ahead, conquer adversity, and work toward a future of shared success. I call upon all Sri Lankans, both at home and abroad, to commit themselves to this hopeful journey—toward a New Year that brings happiness, not sorrow; unity, not division; and prosperity for all.”
April 14, Colombo (LNW): President Anura Kumara Dissanayake, in his Sinhala and Tamil New Year address, delivered a heartfelt appeal to the people of Sri Lanka, urging all communities to unite with renewed resolve, harmony, and compassion to guide the country forward through a period of transformation and rebuilding.
Describing the New Year as a profound moment of spiritual and practical renewal, the President invited citizens to embrace the season’s ethos of fresh beginnings and recommit themselves to the collective ambition of forging “A Thriving Nation – A Beautiful Life”. He noted that this annual cultural milestone provides more than a festive reprieve; it serves as a symbolic occasion to reflect on national unity, shared heritage, and the values that underpin a just and equitable society.
Reflecting on the country’s recent trajectory under the leadership of the National People’s Power (NPP), the President acknowledged the strides made in addressing economic instability, social fragmentation, and systemic political dysfunction. He expressed appreciation for the public’s enduring faith and participation in the democratic process, pointing to the recent presidential and parliamentary elections as a turning point shaped by popular will.
“It is with immense gratitude that I reflect on the resilience and strength shown by the people, who chose to stand with a new vision for Sri Lanka. The progress achieved belongs not to a single party or office, but to each citizen who dared to believe in a better future,” he said.
The President also reaffirmed his government’s commitment to strategic governance and its readiness to confront the evolving domestic and global challenges that lie ahead. Emphasising the importance of unity in the face of adversity, he promised that national policies would remain people-centred, accountable, and inclusive.
In a broader reflection, President Dissanayake underscored the New Year’s cultural significance as a bridge between communities and a celebration of Sri Lanka’s pluralism. He highlighted that the customs observed during the Sinhala and Tamil New Year symbolise a deep reverence for nature and mutual respect between diverse ethnic and religious groups.
“These age-old traditions offer more than seasonal joy—they are testament to the harmonious coexistence between people and the environment, and between communities themselves. They remind us of a shared past and the ethical values that can guide our collective future,” he remarked.
Concluding his address, the President called upon citizens across the country to engage in the New Year not merely as spectators of tradition, but as active participants in shaping a better, more united Sri Lanka.
“As we begin this new chapter, I invite each of you to stand together with renewed purpose and unwavering goodwill. Let this be a year of togetherness, of sustained progress, and of hope fulfilled—for every Sri Lankan, wherever they may be.”
Full Statement:
“As we celebrate the Sinhala and Tamil New Year this year, a festival that symbolises the hope of both physical and spiritual renewal, our nation finds itself at a defining moment, achieving significant victories while resolutely striving towards the realisation of a better and more prosperous future.
It is with profound joy and gratitude that I reflect upon the efforts undertaken by the National People’s Power government over the past months to lift our nation from adversity and steer it towards economic, social and political advancement. The successes we have thus far achieved rightfully belong to the people of this country, whose steadfast trust, as expressed in the most recent Presidential and General Elections, has been the driving force behind this transformative journey.
As a responsible government, we possess the strength and determination to further deepen our commitment to the nation, even amidst formidable challenges. We are implementing well-considered plans to address the multifaceted challenges confronting our country, both in terms of national development and within the broader geopolitical landscape.
The Sinhala and Tamil New Year traditions beautifully reflect the harmony between humanity and nature, bearing witness to the deep-rooted history of coexistence between our Sinhala and Tamil communities. While contemporary society may be burdened by various divisions, occasions such as the New Year provide a timely reminder of the enduring values of unity, harmony and peaceful coexistence. It is our solemn responsibility, particularly at this time of renewal, to nurture those values within ourselves and to foster a more compassionate and ethical society.
Moreover, the rituals associated with the sun’s transition are underpinned by the universal aspiration to create a renewed individual, one free from outdated thoughts and attitudes. The New Year, therefore, offers us an invaluable opportunity to embrace renewal in our own lives.
As we welcome this New Year, I call upon all of you to come together with renewed strength, unity and goodwill. Let us collectively work towards a common purpose, supporting the government’s vision for economic, social and political transformation and thereby ensuring enduring progress and prosperity for our country and all its people.
May this New Year bring you and your loved ones peace, happiness, renewed hope and abundant prosperity in your journey towards ‘A Thriving Nation – A Beautiful Life”.
Warmest wishes for a Happy Sinhala and Tamil New Year!”
April 14, Colombo (LNW): The Sinhala and Tamil New Year for 2025 was ushered in during the early hours of today (April 14), at precisely 3.21 am, marking a significant moment of renewal and cultural celebration across Sri Lanka.
Rooted in astrological observances, the New Year is a deeply symbolic occasion for both Sinhalese and Tamil communities, involving a series of time-honoured customs performed during specifically designated times.
According to this year’s traditional aluth avurudu nakath seettuwa (auspicious time list), the moment to begin cooking rituals was set at 4.04 am. At this hour, families were advised to don copper-hued attire, face south, and ceremonially light the hearth—a gesture symbolising prosperity and harmony in the year ahead.
The preparation of kiribath (milk rice), a staple festive dish, was accompanied by the cooking of various traditional sweetmeats including kavum, kokis, and aluwa. Milk and vilanda—a form of herbal drink—were also prepared to mark the occasion.
Later in the morning, at 6.44 am, the time was deemed auspicious for engaging in the year’s first work-related activity, making financial transactions, and sharing the first family meal.
On this occasion, individuals were encouraged to wear garments in shades of white and pearl, again facing the southern direction while performing these acts. This ritual is considered essential for inviting success and stability into one’s home and workplace in the coming months.
Across the country, homes were filled with the sound of laughter and the smell of festive food, as families came together in celebration. Firecrackers echoed through villages and cities alike, symbolising joy and warding off ill fortune, while temple bells rang out during religious observances held in Buddhist temples and Hindu kovils alike.
Beyond its spiritual and cultural dimensions, the New Year also carries a social and communal significance, promoting values such as unity, generosity, and mutual respect. In both urban and rural settings, communities engage in traditional games, music, and dance over the days that follow, reviving customs that strengthen intergenerational ties.
As the nation steps into the new year with blessings and hope, the rituals observed today serve not only as a nod to tradition but also as a reaffirmation of identity, resilience, and shared heritage.
April 11, Colombo (LNW): The Sports Minister is spreading rumors about the punishment of misconduct and corruption charges. It is said that during the time of Namal Rajapaksa, a member of parliament, he used foreigners to play for rugby and fined the country 50,000 pounds. The rugby administration, which lost that money to Sri Lanka, instead of paying that money, is telling them to deduct the debt from the aid received by Sri Lankan rugby.
As the ministers and government failed to take any disciplinary action against those responsible, these same individuals continue to hold positions within Sri Lankan rugby at the Asian level.
When Namal Rajapaksa left, Roshan Ranasinghe, who was appointed as the Sports Minister, and Shemal Fernando, who also served as the Sports Director General during Harin Fernando’s time, avoided punishing the previous offenders by saying, ‘Those mistakes did not happen during his time.’ That same agenda is still being brought forward. Just as they took it upon themselves to do with those ministers, they are bringing together those who were complicit in the mistake with this minister and appearing in public, even better than those ministers. They are interpreting the needs of those responsible for that mistake as the needs of Asia and are working to change the constitution.
Despite the fact that the constitutional power that has been created for the expansion of the local rugby game has been delegated to several sports clubs and a framework that works accordingly will reduce the spread of the game throughout the country, the Minister is putting administrators on platforms to show Namal and to show the country that they made wrong decisions that even Namal could not make, holding media conferences with them and giving speeches. Although the allegations against the election committee to postpone the election have been resolved and an agreement has been reached, the case against the Director General of Sports, who postponed the election based on a letter from the Asia President, as agreed in court, is not being implemented.
At the press conference held for the match between Malaysia and Sri Lanka, the Director General said that the Minister of Sports, the Ministry and the Attorney General’s Department had the blessing for it. The fact that the Minister was seated between the Chairman and Secretary of the Administration, who are responsible for the £50,000 fine imposed on Namal Rajapaksa in Parliament, is a sign of the current government’s interference in rugby in Sri Lanka.
These questions are not heard in the national media. Nor are they heard in Parliament. The only sport that Parliament questions is cricket. That is a question that is asked because of the financial wealth that surrounds it. Otherwise, if Parliament and the national media understand that sport is something of national value and go on to question Minister Nalinda Jayatissa about the contradictions between the state of rugby and the public statements of the Sports Minister, Minister Nalinda Jayatissa will be influenced by the Sports Minister on the same level as Nalin Hewage, Sunil Watagala, Samantha Vidyaratne.
Those who try to establish their rugby interests in Sri Lanka as a result of the interests of Asia and the world can be banned from the game with a fine of £50,000, even according to the current sports law in Sri Lanka. After that, they cannot represent Asia or the world. However, the current Sports Minister is happy to work with the administrative body responsible for the mistake by blaming Namal in Parliament to show the country.
Meanwhile, the administration at fault continues to operate unchecked, with a key figure from that same group now appointed to lead the National Sports Council.
It is a serious mistake to use a group of foreigners to represent Sri Lanka as Sri Lankans. Also, that mistake has been proven before the world and a fine has been imposed. The officials who were responsible for that mistake have decided to pay the fine from the aid money received for the development of rugby in Sri Lanka, thereby hindering the development process of rugby in Sri Lanka. What will a group responsible for such a situation get from a government that prioritizes the aspirations of the people?
The chairmanship of the National Sports Council appointed by the incoming minister. Since the current governments did not implement the law, the officials of the guilty administration have risen to Asian responsibilities and are trying to change the situation where they are not accepted within the existing rugby constitution.
In the future, only the Namal Rajapaksa and Malik Samarawickrama families will be able to play rugby, and when the Thambuttegama Economic Development Center is built, the members of the families living near the single signal post will have the opportunity to work in a factory where Malik or Namal’s friends will be working, but their dreams of representing the country in a game like rugby will have to be completely buried.
Because the Director General of Sports and the Minister are working very quickly and sometimes with impatience to curtail and weaken provincial rugby activities and give most of the statutory power of rugby to the sports clubs in Sri Lanka.
This change is happening when a boy who came from Thambuttegama and sold goods on the train is the country’s president and a boy who came from Olcott College, which was not noticed as a prince type school in Galle, is the country’s sports minister. Perhaps they are thinking, why do they have a sport they don’t enjoy now? Even though it seems that they are getting that blessing from the top, the Director General of Sports is saying that the election will not be held based on the existing case that he insulted the court by not fulfilling the matters that he had agreed with the court.
It is clear that the intention of postponing the election by involving the Minister, the Ministry, and the Attorney General’s Department, while claiming that he, as the competent authority, should appear alone in the case in which he has been accused of contempt of court, is to forcefully bring the new constitution into force and bring the parties that hold power under the existing constitution into line.
Now, here is a better picture of this need and the false opposition of the minister than the new constitution. The noise of the parliament about the 50,000 pound fine and the picture of the Director General with the Secretary and Chairman of the Administration on both sides of that incident is the best example of that. Although neither the former ministers nor the current government were punished for this offense, none were as brave as this minister and the Director General to appear in public with them in this way. The Minister and the Director General are ready to completely suppress the opposition that they were unable to suppress on the path to Asian office, where they tried to go to the past without imposing fines for the offense, and to reduce the scope of its power in such a way that they can win a majority by the constitution itself. The only place left to challenge it is the courts.
*Adapted from original article, “රෑ දනියෙල් දවල් මිගෙල්” by Nishman Ranasinghe published on 11/04/2025.
April 13, Colombo (LNW): Sri Lanka is facing a significant downturn in agricultural output during the first two months of 2025, with key crops such as paddy, tea, coconut, and rubber experiencing notable declines. The Central Bank of Sri Lanka revealed that these setbacks—largely driven by unfavorable weather conditions and structural inefficiencies—are already impacting both food availability and the income of farming communities across the island.
The drop in production has serious implications for the country’s rural economy, which depends heavily on agriculture for employment and sustenance. With thousands of families reliant on farming and related industries, the dip in crop yield and fisheries output raises concerns about rising food prices, reduced export earnings, and mounting financial pressure on vulnerable households.
Main Body (Paraphrased Content):
According to the Central Bank’s latest statistics, paddy cultivation for the 2024/2025 Maha season is expected to drop by 4.2%, reaching 2.61 million metric tons, compared to the previous season. This decline follows an otherwise positive trend in 2024’s Yala season, which saw an 8.8% increase in output, bringing the total annual paddy production for 2024 to 4.7 million metric tons—up 4.1% from the year before.
Fish production has also shown a troubling pattern, decreasing by 15.1% in January 2025 compared to January 2024. Although February saw a slight 1.0% year-on-year increase, the overall output remains weak, particularly due to a fall in inland fishery activities, which form a significant part of rural food supply and employment.
Tea, one of Sri Lanka’s most crucial export commodities, recorded a dramatic 22.0% year-on-year drop in February 2025. The primary cause is attributed to prolonged dry weather conditions affecting plantation zones. Adding to the pressure, global tea prices saw a general downturn, with only the Mombasa auction reflecting a modest increase, while Colombo and Kolkata auctions posted lower average prices.
Coconut yields also fell sharply, with a 31.6% decrease year-on-year in February 2025. Similarly, the rubber sector showed a production slump during the same period, as per provisional figures from the Rubber Development Department. While the international price of natural rubber saw a rise due to supply disruptions from adverse weather in major producing countries, domestic producers may not benefit equally, given the local production drop.
Spice exports offered a glimmer of hope, with higher revenues in February 2025, particularly from products like pepper, cinnamon, and cloves. However, other spices, including turmeric, ginger, clove, and cinnamon, saw price declines, reflecting market volatility and uneven performance across crop categories.
In summary, Sri Lanka’s agricultural sector is facing multiple challenges at the start of 2025, threatening both economic stability and the well-being of those who rely on it. Unless corrective measures are taken to mitigate the impact of climate variability and strengthen support for farmers and fisheries, the country may face further hardships in food security and rural livelihoods.
April 13, Colombo (LNW): Sri Lanka is exploring measures such as energy imports and tariff reforms in response to the 44 percent tariff imposed by former US President Donald Trump, according to Deputy Economic Minister Anil Jayantha. Energy remains one of the country’s largest imports, and a shift in this area could yield significant change.
Before the suspension of the tariff, Sri Lanka had held two virtual meetings with US officials. Although the US does not directly engage in government-to-government transactions, Minister Jayantha indicated that private firms in the US could become potential partners for Sri Lanka. A mission to Washington or Colombo to negotiate details was also discussed, with the goal of resolving tariff-related issues.
In an effort to address the matter, President Anura Kumara Dissanayake sent a letter to President Trump, while the Treasury submitted a more comprehensive document to the US Trade Representative and the White House.
Regarding tariffs, Sri Lanka’s highest rate was 20 percent, with some goods already exempt. However, the country also imposes additional charges through para-tariffs, such as the CESS and Port and Airport Levy, which contribute to overall import costs.
Sri Lanka’s trade policies have faced criticism over the years. In 2004, the country embarked on a ‘de-liberalization journey’ by issuing a gazette that imposed taxes on various products without parliamentary approval, resembling a move similar to Trump’s executive orders. This shift toward protectionism led to the emergence of oligarchs who hindered free trade agreements by financing political figures.
Economic experts often resort to measures like interest rate cuts or refinancing bank credits when foreign exchange shortages arise. These actions have historically prompted Sri Lankan politicians to impose trade or exchange controls. The US Trade Representative (USTR) noted that Sri Lanka had reversed its course and was moving toward self-sufficiency rather than embracing global free trade policies.
In a 2005 report, the USTR expressed concern over Sri Lanka’s abandonment of the trade liberalization strategy that had been championed by previous governments. The government’s new approach focused on protecting small and medium-sized enterprises and agriculture, which led to the introduction of a new import tax on specific items. Despite improvements in foreign reserves, the government did not repeal the tax.
The shift toward protectionism also resulted in controversial policies, such as restricting maize imports, which drove up prices for chicken and eggs, according to critics. This move was perceived as a way to favor certain political interests. Critics also pointed out that the taxation of dairy products benefitted a single company, further raising concerns about the impact on the public.As the country navigates these economic challenges, the USTR continued to highlight the negative effects of such protectionist measures, particularly on apparel and food products. During the Yahapalana era, when Sri Lanka faced forex shortages due to increased money printing and flexible inflation targeting, the USTR flagged further trade controls that hindered economic stability.
April 13, Colombo (LNW): In 2024, Kaspersky’s cybersecurity solutions detected and blocked 2,803 ransomware incidents targeting businesses in Sri Lanka. This represents a 6% increase from the previous year, highlighting the ongoing and escalating threat of ransomware across various sectors. Experts emphasize the need for businesses to enhance their IT security measures to combat the increasingly sophisticated nature of these attacks, which can have devastating financial and reputational consequences.
Notably, in November 2024, Sri Lanka experienced significant cyberattacks targeting major corporations and government entities. These breaches exposed vulnerabilities and led to unauthorized access to sensitive data, underscoring the urgency of strengthening the nation’s cybersecurity infrastructure.
Kaspersky’s Sam Yan, Head of Sales for Asia Emerging Countries, stressed that while the number of ransomware attempts may seem manageable, the impact of even a single successful attack can be catastrophic. He urged businesses to invest in effective cybersecurity solutions that offer comprehensive protection against ransomware, as not all security products provide the same level of defense.
Kaspersky’s cybersecurity tools, including Kaspersky Endpoint Security for Business, Kaspersky Small Office Security, and Kaspersky Standard, have demonstrated perfect ransomware protection in real-world testing scenarios, according to assessments by AV-TEST. This performance reinforces the effectiveness of Kaspersky’s solutions in safeguarding businesses from ransomware threats.
To support victims of ransomware and aid in global efforts to combat cybercrime, Kaspersky continues its partnership with Europol, the Dutch National Police, and other cybersecurity organizations through the No More Ransom initiative. Launched in 2016, this initiative provides free decryption tools and resources to help ransomware victims recover their data. By the end of 2024, the initiative had expanded to cover 42 ransomware families, helping over 2.3 million victims worldwide.
Kaspersky’s contribution to the No More Ransom initiative highlights its dedication to fighting ransomware and strengthening global cybersecurity. The company encourages businesses to adopt best practices for protecting themselves from ransomware attacks, such as avoiding exposure of remote desktop services to public networks, using strong passwords and two-factor authentication, and ensuring software is regularly updated.
In addition, Kaspersky advises businesses to focus on detecting lateral movements and data exfiltration during cyberattacks and to regularly back up data, particularly offline backups. Companies should also be cautious of downloading pirated software or software from untrusted sources and assess the security of their supply chain and managed services.
Furthermore, educating employees about cybersecurity risks is vital. Kaspersky offers training courses via its Automated Security Awareness Platform to help businesses bolster their defenses. By staying informed through resources like the Kaspersky Threat Intelligence Portal, organizations can gain valuable insights into the tactics, techniques, and procedures (TTPs) used by cybercriminals.
In conclusion, as ransomware threats continue to evolve, businesses in Sri Lanka must prioritize cybersecurity and adopt comprehensive protection strategies to safeguard their operations and data.
April 13, Colombo (LNW): President Anura Kumara Dissanayake has revealed that two letters have been sent to US President Donald Trump addressing the ongoing tariff issues between Sri Lanka and the United States. According to Samagi Jana Balawegaya (SJB) MP Dr. Harsha de Silva, the first letter, written by President Dissanayake, was followed by a more detailed letter from the Secretary to the Treasury outlining potential solutions to resolve the dispute.
The All-Party Conference (APC), held on Thursday, April 10, gathered key political figures, government officials, and economic advisors to discuss Sri Lanka’s response to potential economic challenges posed by US trade policies. During the meeting, Opposition Leader Sajith Premadasa emphasized the need for a unified national approach to mitigate the potential fallout, which he warned could include job losses and factory closures if no decisive action was taken.
Dr. de Silva, who chairs the parliamentary Committee on Public Finance, provided a technical analysis during the meeting. He stressed the importance of economic reforms and regional integration to enhance Sri Lanka’s economic resilience. One key proposal was to sign the Economic and Technology Cooperation Agreement (ETCA) with India, which could unlock regional growth opportunities. Additionally, he suggested a Harmonised System (HS) Code-based approach to trade negotiations with the US, which could help improve bilateral relations and address the tariff concerns.
Despite acknowledging these suggestions, President Dissanayake did not commit to any specific actions at the time. Dr. de Silva, however, stressed the need for pragmatic engagement with the US, pointing out that President Trump’s approach to trade, especially his focus on trade deficits, was fundamentally flawed but must be navigated carefully due to its transactional nature.
Addressing the concerns over the US’s imposed tariffs, Dr. de Silva pointed out that the 88% tariff figure was misleading. He explained that the number was derived by dividing the trade deficit by the value of imports from Sri Lanka, using arbitrary parameters. He argued that this calculation did not reflect the actual tariffs and that debating it on technical grounds was futile.
The APC also raised concerns about Sri Lanka’s economic future, particularly regarding the potential loss of the European Union’s GSP+ trade concessions. Dr. de Silva warned that the upcoming changes in EU regulations could result in Sri Lanka losing its preferential trade status. He emphasized the urgency of securing a transitional arrangement to prevent disruptions to Sri Lanka’s export economy.
At the conclusion of the APC, it was agreed to monitor the situation closely and reconvene for further discussions. Although no formal committee was established, there were suggestions to form a working group to continue addressing the issue. Sri Lankan officials are expected to engage with US trade representatives during the upcoming IMF and World Bank Spring Meetings in Washington, DC, to further advance the discussions.
April 13, Colombo (LNW): Despite mounting global trade pressures, Sri Lanka is holding firm on its $18.7 billion export target for 2025. The government’s stance comes amid a 44% tariff hike by the United States and the possible suspension of the European Union’s GSP+ trade benefits due to concerns over human rights practices.
The Generalised Scheme of Preferences Plus (GSP+), which allows Sri Lankan exports reduced tariffs to the EU, has been vital for key sectors such as apparel, seafood, and rubber. Any withdrawal of this preferential access could severely damage export competitiveness and lead to job losses, especially in the apparel industry—one of the country’s largest employers.
While the EU’s concerns are centered on human rights compliance, the U.S. tariff hike, announced by former President Donald Trump, forms part of a broader global trade strategy and is not exclusively aimed at Sri Lanka. However, the Ministry of Trade, Commerce, and Food Security acknowledges the potential fallout, as Sri Lanka exports nearly $3 billion worth of goods to the U.S., with apparel alone contributing $1.8 billion.
“We believe this tariff may be related to our trade imbalance with the U.S., where we import only about $300 million,” a ministry spokesperson stated. “But we remain optimistic and are seeking a diplomatic resolution.”
Officials further confirmed that even if no exemption is reached, Sri Lanka is preparing to diversify its export markets. Early discussions are underway to boost trade with Europe and Asia, ensuring resilience in case U.S. access becomes more restricted.
The Export Development Board (EDB) has projected $14.54 billion from merchandise exports and $4.16 billion from services by 2025. Despite the expected increase in competition due to rising costs, the government maintains that the U.S. market won’t be entirely lost.
Meanwhile, Colombo-based think tank Verité Research has urged a multilateral approach through the World Trade Organization (WTO) rather than isolated bilateral deals. They warn that unilateral moves like Trump’s tariff hikes weaken global trade norms. Verité recommends a “Cooperative Common Response” to defend the integrity of the international trading system.
Diplomatic efforts are ongoing. While the U.S. typically avoids direct government-to-government trade negotiations, Sri Lanka has initiated virtual discussions. Deputy Economic Minister Anil Jayantha said energy imports and tariff reforms may be used as bargaining tools during these talks.
With no plans to adjust its 2025 export ambitions, Sri Lanka is navigating the complexities of global trade with a dual strategy: defending its current markets while actively pursuing new ones. Whether through diplomacy or diversification, officials remain committed to shielding the economy from external shocks.
