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UK Trade Envoy on inaugural visit to Sri Lanka
The UK Prime Minister’s Trade Envoy for Sri Lanka, Lord Hannett of Everton, is visiting Colombo from 25th-28th May. This is his first visit to Sri Lanka since he was appointed in January 2025. Lord Hannett will meet with the Minister of Trade, Commerce, Food Security and Cooperative Development Hon. Wasantha Samarasinghe, Deputy Minister for […]
Strong April 2025 performance of Sri Lanka’s Apparel sector; JAAF
Sri Lanka’s apparel industry recorded an encouraging 15.14% year-on-year growth in April 2025, reflecting a notable rebound in demand from major global markets. According to data released by the Joint Apparel Association Forum (JAAF), exports to the EU (excluding the UK) surged by an impressive 27.04%, while shipments to the USA and UK grew by […]
Sri Lanka’s Exports Surge to USD 5.5 Billion in First Four Months of 2025
Sri Lanka’s export sector demonstrated remarkable resilience and steady progress during the first four months of 2025, with total exports reaching US$ 5,583.25 Mn, marking a robust 6.9% increase compared to the same period in 2024. This upward trend reflects renewed momentum across key industries and underscores the sector’s adaptability in an evolving global trade […]
Stakeholders validate apparel curriculum for persons with disabilities
A diverse group of stakeholders from Sri Lanka’s apparel industry, vocational training institutes, the Department of Social Services, Vocational Training Authority, Tertiary and Vocational Education Commission, EFC’s disability resource centre, organizations for persons with disabilities and international development agencies convened recently at the NH CollectionColombo for a national workshop focused on validating an inclusive apparel […]
ComBank and MD/CEO Sanath Manatunge clinch top honours as ‘Sri Lanka’s Best’ from The Asian Banker
The Commercial Bank of Ceylon and its Managing Director/CEO Mr Sanath Manatunge have been named the ‘Best Managed Bank’ and the ‘Best Bank CEO’ in Sri Lanka respectively by The Asian Banker (TAB) magazine, bestowing on them two prestigious accolades that are presented once in every three years. These awards, in respect of the 2022-2024 […]
Hambantota International Port Group Enhances Vehicle Clearance Efficiency
Hambantota International Port Group (HIPG) has responded decisively to recent complaints regarding delays in vehicle clearance. Since February 2025, more than 9,151 vehicles, both used and brand new, have entered the country through the HIP, placing increased demand on port operations. In light of this, the Hambantota International Port Group (HIPG) has implemented a series […]
Sri Lankan Delegation to Engage in Tariff Talks in Washington
A Sri Lankan delegation is set to participate in discussions in Washington, D.C., focusing on tariff-related matters, following an invitation extended by the Office of the United States Trade Representative (USTR). This is the second in-person meeting aimed at ongoing efforts to strengthen bilateral trade relations between the two nations. This initiative builds on several […]
‘s Electricity Reforms, Financing Assurances Review for Next Tranche
The much-anticipated approval of Sri Lanka’s Extended Fund Facility (EFF) program by the International Monetary Fund (IMF) Executive Board is expected “in the coming weeks,” but its precise timing hinges on two key contingencies, according to Julie Kozack, Director of the IMF’s Communications Department. During a press briefing on May 22, 2025, Kozack addressed questions […]
Central Bank further reduces Overnight Policy Rate by 0.25-pct
The Monetary Policy Board decided to reduce the OPR by 25 bps to 7.75% at its meeting held yesterday, thereby easing monetary policy further. The Board arrived at this decision after carefully considering the developments both domestically and globally. The Board is of the view that this measured easing of monetary policy stance will support […]
Going Beyond the US Reciprocal Tariffs: Sri Lanka’s Exposure to the Tariffs and Exemptions
By Dr Asanka Wijesinghe The United States’ (US) proclamation of “reciprocal tariffs” dealt a blow to the global trade system based on the World Trade Organisation (WTO) principles. With the individualised tariff rates, the US has discarded non-discrimination in the Most-Favoured-Nation (MFN) tariff structure. The “reciprocal tariff” rate does not show any reciprocity but rather […]