February 24, Colombo (LNW):Deputy Secretary of State for Management and Resources, Richard Verma, made a significant announcement yesterday, revealing the United States’ commitment to providing yet another medium endurance cutter to Sri Lanka in the near future.

“I am pleased to announce that the Department of State has notified Congress of our intent to transfer a fourth medium endurance cutter to Sri Lanka,” stated Verma during his visit aboard the SLNS Vijayabahu, one of the three former U.S. Coast Guard cutters previously transferred to the Sri Lanka Navy. The Department of State has allocated US$ 9 million in Foreign Military Financing to support this initiative.

Verma emphasized the importance of the pending cutter transfer, expressing, “We look forward to offering the cutter, pending the completion of Congress’ notification period. If completed, this transfer would further strengthen defense cooperation between the United States and Sri Lanka.”

Highlighting the potential impact, Verma articulated his hope that the new vessel would enhance Sri Lanka’s capability to patrol its Exclusive Economic Zone, monitor its search and rescue area, and provide additional security for ships navigating the busy sea lanes of the Indian Ocean.

The U.S. Ambassador in Colombo underscored the ongoing collaboration between the two nations, noting the previous transfer of three cutters to the Sri Lankan Navy. These vessels have been instrumental in maritime operations, law enforcement missions, countering human and drug trafficking, and supporting humanitarian assistance and disaster response efforts.

“The eventual transfer of a fourth vessel would be just one more point in a long history of cooperation between Sri Lanka and the United States in preserving a free and open Indo-Pacific region,” the Ambassador added.

Deputy Secretary Verma, in addition to the cutter announcement, visited the site of the West Container Terminal (WCT) at the Port of Colombo. Financed with $553 million from the U.S. International Development Finance Corporation, the WCT, constructed by Colombo West International Terminal (CWIT) Private Limited, is set to become a vital deepwater shipping container terminal, contributing crucial infrastructure for the South Asian region. Operating at near capacity since 2021, the WCT aims to boost Colombo’s shipping capacity, solidifying its role as a premier logistics hub connecting major routes and markets, all without adding to Sri Lanka’s sovereign debt.

February 24, Colombo (LNW): Showers or thundershowers will occur at several places in Western, Southern, Sabaragamuwa, Central, North-western and Uva provinces in the evening or night.

Showers or thundershowers may occur at a few places in North-central province in the evening or night.

Misty conditions can be expected at some places in Western, Sabaragamuwa, Central and Uva provinces and in Galle and Matara districts during the morning.

The public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.

February 23, Colombo (LNW): Sri Lanka will get an update on the GSP+ trade concessions at a Joint Commission meeting with the European Union, the Foreign Ministry said.

Three working groups on Governance, Rule of Law and Human Rights, Trade and Economic Cooperation, Development Cooperation will report to the Joint Commission.

“The European Union will also brief on the current developments in the EU including an update on new GSP Regulation and the new cycle of the EU GSP+ concessions,” the statement said.

The 26th session of the Joint Commission between Sri Lanka and the European Union will be convened on 22 February 2024 in Brussels. 

The meeting will be co-chaired by Secretary of the Ministry of Foreign Affairs of Sri Lanka Aruni Wijewardane and EU European External Action Service Deputy Managing Director for Asia Pacific Paola Pampaloni.

Sri Lanka delegation to the Joint Commission will comprise senior officials of the Ministry of Foreign Affairs, Attorney General’s Department and Ministry of Finance.

The EU- Sri Lanka Joint Commission serves as a platform for dialogue and cooperation between Sri Lanka and the European Union, covering a broad range of bilateral and multilateral issues of mutual interest inter alia trade and investments, development assistance, fisheries, education, counterterrorism, governance and human rights, Indo-pacific & maritime security and environment.

The outcome of the three Working Groups which reports to the Joint Commission, Governance, Rule of Law and Human Rights, Trade and Economic Cooperation, Development Cooperation will be presented to the Joint Commission.

The European Union will also brief on the current developments in the EU including an update on new GSP Regulation and the new cycle of the EU GSP+ concessions.

The previous session of the Joint Commission meeting was held in May 2023 in Colombo

Among the matters to be discussed are; economic and trade policy developments, bilateral market access issues, new GSP Regulation for 2024-2034 and trade related assistance. 

 The EU side acknowledged the progress made by Sri Lanka towards economic stability and attempts made to expand trade with the EU, and requested further cooperation and engagement in reviewing policy directives. 

The EU side also highlighted the features of the new GSP Scheme which will come into effect from the year 2024. Sri Lanka is an applicant to the GSP Plus facility under the new Scheme which will enable Sri Lankan exporters to export more than 7000 products under zero duty to EU member countries for the next ten years.

 Currently, the EU is the second largest export market for Sri Lanka with a value of US$ 3 Billion in the year 2022. Apparel exports dominate the export basket with a 54% share of exports in 2022. The other key export products are pneumatic tyres, tea, articles of apparel, tobacco and liquid coconut milk

February 23, Colombo (LNW):Sri Lanka and Vietnam have entered into a bilateral agreement for an agricultural technology exchange program between the governments of the two countries.

A memorandum of understanding (MoU) was signed between Sri Lanka and Vietnam on a number of issues, including the exchange of agricultural technology and the development of the agricultural sector in both countries.

Agriculture and Plantation Industry Minister Mahinda Amaraweera and Agriculture and Rural Development Minister of Vietnam Minh Hoan Le held bilateral discussions yesterday (21) in conjunction with the 37th Asia Pacific Conference of the United Nations Food and Agriculture Organization.

The agreement was signed on several matters such as agricultural technology, studies and research, exchange of experience, advanced seed production, application of fertilizers and pesticides, and training of farmers and officials so that they can get more yields.

The Vietnam Agriculture Minister expressed his pleasure regarding the fact that Sri Lanka has now become self-sufficient in rice. He also stated that Sri Lanka’s potential in food production should be appreciated, even though it is experiencing a difficult economic period.

Meanwhile, Minister Amaraweera said that although many people assumed that there was a food shortage in Sri Lanka due to the economic collapse, the people of Sri Lanka did not face a food crisis due to the measures taken by the government and the farmers despite the obstacles. He also said that the people should express their gratitude to the Sri Lankan farmers.

Specially, the new agricultural technology is widely used for the agricultural sector of our country at present. However, in order to get higher results from it, the country’s farmers should continue to use new agricultural technology.

Morerover , Agricultural technology is widely used in Vietnam. Vietnam has achieved a higher effectiveness in the sectors such as Agricultural research, new seeds with higher yield, animal husbandry, minimizing post-harvest losses.

Therefore, Minister of Agriculture Mahinda Amaraweera has mentioned that the government is giving priority to further expanding the agricultural technology currently used in the country.

The Minister has mentioned that it is extremely important to enter into a Memorandum of Understanding (MOU) for the exchange of agricultural technology between the Government of Vietnam and the Government of Sri Lanka.

He also claimed that the government has been able to create a wide awakening in all sectors under the current government by avoiding the difficulties that existed in the past.

Vietnam has introduced many varieties of paddy that can produce the highest paddy yield in the Asian region, and that many countries in the world are following the new technology in agricultural sector of Vietnam. 

February 23, Colombo (LNW): The government plans to relieve from the cumbersome official procedure on migrant workers with the introduction of a single digital platform for their safety, welfare, and job security preventing malpractices, corruption and abuses in the industry. 

The aim is to make the foreign employment from the time of recruitment process up to completion of their services in the Middle East and other countries offering streamlined and hassle free service for migrant workers, Minister of Foreign Employment Manusha Nananyakkara said.  .   

The Minister said that the cabinet approval will be sought soon to digitise foreign noted employment sector heeding to a recent written request made by three   and appeals made made by several other civil societies and organisations towards this end. 

The members of Rural Women’s Front, Jesmin Women Organisation and Galle Business Women’s Alliance have brought to the notice of the minister the shortcomings and difficulties faced by female migrant workers.   ’

Their main request is to devise a new system of foreign employment fulfilling digitising the sector in order to maintain close contacts with government authorities to seek their assistance as and when they need any assistance from the state.

  Several foreign employment rackets have been reported in the recent past, with the involvement of fake or unlicenced employment agencies, including a human trafficking ring in Oman. 

Foreign Employment Ministry has been urged to introduce a single digitaised platform entailing all information related to foreign employment recruitment, including those travelling overseas for employment, job opportunities, employer, destination, financial transactions and licenced employment agencies. 

The Safe Foundation has already stepped into develop this IT application, but the relevant ministries and state institutions are unable to implement it due to the lack of proper infrastructure. 

However, the ministry has directed the  intend to conduct a pilot test of this application at 12 districts at the district and regional levels and later roll it out to the relevant state institutions

The proposed system is to be a centralised system that will be monitored by the Sri Lanka Bureau of Foreign Employment (SLBFE) and connecting with other stakeholders in the industry, Minister Nanayakkara emphasised.  

He sressed the need of regularising the informal foreign employment sector including job agents focusing on the development of the sector creating a database transforming the sector competitive and increasing skilled labour force for the next 10 years.

Therefore, this database will enable SLBFE to monitor migrant workers locally and extend any assistance needed for them in the event of a difficulty and employment and payment issues overseas, he said.The Foreign Employment Ministry will conduct countrywide awareness campaigns for both officials and the public.and provide training for officials involved in the process channels, such as banks, for monitoring purposes

February 23, Colombo (LNW): In a recent media discussion on its Monetary Policy, the Central Bank expressed optimism regarding the ongoing rebound of domestic economic activity, anticipating its continuation throughout 2024. The bank emphasized the crucial role of appropriate policies in facilitating the gradual realization of the economy’s potential over the medium term.

The overall real GDP growth for 2023 is expected to show a moderate negative trend, indicating a milder contraction compared to the previous year. However, the Central Bank anticipates a return to positive economic growth in 2024.

A key factor influencing the economic outlook is the continuation of the IMF-EFF arrangement and the progress of envisaged structural reforms. The Central Bank highlighted that any disruption to this program could lead to high economic costs, including growth derailment, loss of confidence, and the prolongation of negative investor sentiments.

Sri Lanka achieved the significant milestone of reducing inflation to single-digit levels in 2023, restoring price stability from the elevated levels observed a year ago. The Central Bank’s projections indicate that headline inflation is expected to stabilize around the targeted level of 5% over the medium term.

The Central Bank acknowledged potential deviations from the inflation target in the near term, attributing them to recent tax amendments and supply-side disruptions. However, the bank believes that such deviations are unlikely to persist due to subdued demand conditions, as the economy is projected to operate below its full capacity for an extended period.

February 23, Colombo (LNW): In a significant development, President Ranil Wickremesinghe has underscored the need for a comprehensive restructuring of vocational education in Sri Lanka to align with the demands of the modern world. The primary goal is to equip the country’s youth with the necessary skills to excel in the competitive global job market.

During an observation tour at the Ratmalana Lalith Athulathmudali Vocational Training Centre on the 22nd of this month, the President detailed plans to consolidate all vocational training institutes in the country into a single vocational college. This centralized institution will offer contemporary subject-related courses designed to meet the evolving needs of the job market.

The Lalith Athulathmudali Vocational Training Centre, established in honor of the late Lalith Athulathmudali and currently under the National Youth Service Council, provides a diverse range of vocational technology courses. These include motor mechanics, information technology, 3D planning and designing, language studies, pre-school teaching, beauty culture, and other essential programs for the evolving job market.

During his visit, President Wickremesinghe toured the classrooms, engaging with students to inquire about their education and well-being. He participated in a brief discussion with the students, addressing their queries and expressing support for initiatives like establishing pre-schools after completing studies.

Responding to a question about opportunities for Sri Lankan youth in modern technology, the President emphasized the country’s swift digital transformation and the prioritization of advancements such as Artificial Intelligence (AI). He expressed optimism about Sri Lanka’s trajectory in embracing evolving technologies.

President Wickremesinghe assured the student who expressed a desire to establish her own pre-school that the government would focus on supporting such initiatives as part of the broader program to advance pre-school education.

The President concluded his visit by penning a commemorative note in the guest book at the Vocational Training Centre and posing for a group photograph with the students. He also engaged in a cordial discussion with the students, taking the opportunity to capture a few ‘selfies’ with them.

Key figures present at the event included Sports and Youth Affairs Ministry Secretary K. Mahesan, National Youth Service Council Chairman and Director General Pasindu Gunaratne, Director of Presidential Youth and Sustainable Development Randula Abeyweera, Officer in charge of Lalith Athulathmudali Vocational Training Centre B.M. Ranil, and other officers.

This week’s shocking revelation of a significant salary hike for Central Bank of Sri Lanka employees has stirred widespread criticism. Particularly targeted is Mahinda Siriwardena, the Secretary of the Ministry of Finance, who faced backlash for benefiting from the salary increase while transitioning from his role as Deputy Governor at the Central Bank.

Siriwardena, who once justified joining the Central Bank in 1992 for its lucrative salaries, found himself at the center of controversy. Amid mounting pressure from political representatives, trade unions, and civil organizations, he opted to step down from his position as Finance Ministry Secretary. In a recent development, he submitted his resignation letter to President Ranil Wickramasinghe, who, after a discussion, urged him to reconsider, emphasizing, “You work for the country and the people, not for anyone. So withdraw this letter of resignation.”

February 23, Colombo (LNW): Chairman of the Sectoral Oversight Committee on Alleviating the Impact of the Economic Crisis, MP Gamini Waleboda, revealed that 1 million electricity connections were disconnected within the past year. This information was disclosed during a committee meeting on Thursday (22), where several institutions, including the Public Utilities Commission of Sri Lanka (PUCSL), were summoned.

MP Waleboda urged for the immediate reconnection of the disconnected electricity connections and proposed the implementation of a system for paying electricity tariffs in installments. Additionally, he called for the reconnection to be done without charging a fee and suggested that any reconnection fees be levied in installments as well.

February 23, Colombo (LNW): The Secretary to the Ministry of Trade, Commerce, and Food Security announced that approval has been granted to import an additional 30 million eggs from India for the upcoming festive season. This decision comes after the recent approval to import 60 million eggs between January and April.

In total, the permission for importing eggs now stands at 90 million, aiming to address the demand during the festive season.