Sri Lanka is taking part in the 11th Belt and Road Summit 2026 in Hong Kong, with Minister of Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe representing the country at the high‑level state diplomatic and commercial conference.

The summit, jointly organized by the Hong Kong Trade Development Council (HKTDC) and the Government of the Hong Kong Special Administrative Region, began today at the Hong Kong Convention and Exhibition Centre (HKCEC) and will continue until September 10.

Held under the theme “Advancing High‑Quality Development · Embarking on a New Journey”, the event aims to strengthen trade, investment, supply chain linkages, and economic cooperation among Asian and Belt and Road partner countries.

Minister Samarasinghe participated in one of the summit’s foremost policy dialogue sessions, “Building Resilient Trade and Investment Frameworks in a Diverse Global Landscape”, where discussions focused on addressing global economic and trade challenges, reinforcing regional and international trade relations, and creating transparent and sustainable investment opportunities under the Belt and Road initiative.

Speaking at the session, the Minister highlighted Sri Lanka’s potential as a regional maritime and trade hub, the importance of opening new foreign markets for domestic products, and the need to attract value‑added investments to the country.

The policy dialogue was chaired by Algernon Yau, Secretary for Commerce and Economic Development of Hong Kong, and included participation from ministers and representatives of Bangladesh, Thailand, Qatar, Kazakhstan, and Timor‑Leste alongside Sri Lanka. (Newswire)

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Sri Lanka and Oman have taken steps to strengthen economic ties, with discussions held on expanding trade and investment cooperation between the two countries.

Foreign Trade and International Cooperation Adviser at the Ministry of Commerce of the Sultanate of Oman, Mr. Pankaj Khimji, accompanied by Ambassador of Oman, Ahmed bin Ali bin Saeid Alrashidi, met with Minister of Trade, Commerce, Food Security and Co‑operative Development, Wasantha Samarasinghe, in Colombo on Tuesday.

Talks focused on identifying new opportunities for collaboration, with both sides expressing strong interest in deepening bilateral economic relations. Mr. Khimji conveyed Oman’s keen interest in exploring investment opportunities in Sri Lanka, particularly in agriculture and energy, while also seeking to enhance trade flows.

Minister Samarasinghe welcomed the initiative, highlighting Sri Lanka’s broad range of investment prospects across multiple sectors. He invited Omani investors to explore opportunities currently available, including in the Ceylon Shipping Corporation, as part of efforts to strengthen bilateral cooperation.

During the meeting, Mr. Khimji also expressed Oman’s interest in exploring the possibility of a bilateral Free Trade Agreement (FTA) with Sri Lanka to significantly boost trade and investment. Minister Samarasinghe welcomed the proposal and agreed to consider the matter.

The meeting underscored the mutual commitment of both nations to advancing economic cooperation and creating new avenues for trade, investment, and business partnerships.

Also present were K. A. Vimalenthirarajah, Secretary of the Ministry of Trade, Commerce, Food Security and Co‑operative Development, and Charitha Yattogoda, Director of Commerce of the Department of Commerce. (Newswire)

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Minister of Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe has stressed the urgent need to regulate and halt the use of toxic chemicals in fruit ripening, following rising complaints from consumers.

At a discussion held yesterday (20) at the Ministry, Samarasinghe revealed that the Consumer Affairs Authority has received numerous reports of bananas, mangoes, wood apples, and papayas being artificially ripened with unauthorized chemicals before reaching the market.

The meeting examined legal barriers and enforcement challenges in curbing the practice, with the Minister emphasizing that immediate regulation and strict legal decisions are required to protect public health. He noted that if necessary, amendments to the Consumer Protection Act could be considered to strengthen oversight.

Agricultural research officials explained that while artificial ripening methods are used internationally on a scientific basis, many local traders and producers rely on unsafe shortcuts instead of proper procedures. Officials also reminded that under the Food Control Act, no chemical or solution is permitted to come into contact with fruit.

Attention was drawn to the need for laboratory facilities to confirm chemical use in fruit ripening. Although the Industrial Technology Institute has such facilities, its heavy workload has limited capacity. 

Plans are underway to provide the Consumer Affairs Authority with additional resources to support enforcement. (Newswire)

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A special discussion was recently convened to address a series of issues linked to cooperative fuel stations, under the leadership of Minister of Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe and Minister of Energy Anura Karunathilaka.

Senior officials of the Ministry of Energy and chairmen of cooperative societies joined the talks, which focused on key matters including discounts offered to cooperative fuel stations, issuing fuel on credit, land ownership disputes, and construction or renovation of stations.

The meeting also saw the participation of Deputy Minister of Cooperative Development Upali Samarasinghe, Ceylon Petroleum Corporation Chairman Janaka Rajakaruna, Managing Director Mayura Neththikumara, as well as senior ministry officials, cooperative society chairmen, and general managers. (Newswire)

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Minister of Trade, Commerce, Food Security and Cooperative Development, Wasantha Samarasinghe says businesses conducted through online platforms must be properly regulated to ensure fairness and accountability.

Speaking at the 9th Annual General Meeting of the Sri Lanka Retailers’ Association, the Minister warned that many internet‑based ventures operate without proper registration or tax compliance, creating serious difficulties for entrepreneurs who pay taxes legally. 

He noted that observations show nearly USD 780 million has flowed out of the country in recent times through such informal methods.

According to the Minister, while around 65,000 businesses are registered nationally, representatives and distributors of some large companies exceed 200,000. He highlighted that from small village retail shops to national‑level B2C enterprises, many remain unregistered.

He further said that retail trade is a key sector contributing more than 20% to the Gross Domestic Product and generating employment for nearly two million people. Ensuring proper regulation of online businesses, he said, is vital to protect legitimate traders and strengthen the economy. (Newswire)

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Trade, Commerce, Food Security and Cooperative Development Minister Wasantha Samarasinghe yesterday chaired a high‑level discussion on problems faced by food importers during customs clearance, including delays caused by multiple inspections by state agencies.

Officials from Sri Lanka Customs, the Plant Quarantine Unit, Food Control Unit, Department of Import and Export Control, Sri Lanka Ports Authority, and the Sri Lanka Standards Institution joined the talks, alongside importers who directly presented their concerns.

An example was cited where two different reports were issued for the same rice sample tested at separate locations. Minister Samarasinghe stressed the need to expedite laboratory work and standardize evaluations.

He noted that delays in releasing food containers from ports result in financial losses to importers, which ultimately burden consumers. The Minister instructed officials to streamline document checks across institutions and establish a unified mechanism to minimize time and cost losses.

Samarasinghe further emphasized that imported food items must meet the highest quality standards, and that importers are responsible not only for offering goods at lower prices but also for ensuring suitability for consumers. 

He added that importers, as an association, must take responsibility to prevent unsuitable food products from entering the country. (Newswire)

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Minister of Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe held a highly productive bilateral discussion with Wang Yubo, Governor of Yunnan Province, China, focusing on strengthening Sri Lanka–China trade and investment relations. 

According to the Ministry of Trade, the talks centered on strengthening bilateral trade relations and expanding cooperation across key sectors.

The discussion focused on Sri Lanka’s presence at the 10th South Asian Expo, which has grown significantly, with around 100 companies showcasing Ceylon tea, gems, spices, and apparel, underscoring the country’s export potential.

Both sides further discussed studying Yunnan’s specialized trade facilitation programmes, with the aim of adapting them to benefit Sri Lankan exporters and enhance their competitiveness.

Governor Wang reaffirmed Yunnan’s strong commitment to supporting Sri Lanka’s trade expansion and capacity‑building initiatives.

The meeting concluded with an agreement to further deepen business‑to‑business (B2B) ties and strengthen investment cooperation, paving the way for enhanced economic engagement between Sri Lanka and China. (Newswire)

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Minister Wasantha Samarasinghe has dismissed parts of the Auditor General’s report on the controversial coal import incident, saying certain facts presented “cannot be accepted.”

Speaking during a televised debate, the Minister stressed that the report does not establish fraud but only outlines possible scenarios. 

He reiterated the government’s position that no fraud had occurred in the procurement process.

“The government’s position is that no fraud has taken place in this incident. That is what I, and our ministers, are saying,” Samarasinghe said, adding that a no‑confidence motion in Parliament under such circumstances was unwarranted.

He further argued that the Auditor General should have clearly identified any lapses in procurement procedures. 

“If that is the case, the Auditor General should say in the report: here is the Procurement Commission, or under procurement conditions, this registration did not take place. Therefore, it should be said this is not relevant,” he noted.

Highlighting inconsistencies, Samarasinghe pointed to issues with deposits and documentation. 

“The submission in the Auditor General’s report is wrong. There is a letter written to the bidders. When this Auditor General’s report was presented, there were 4,980 deposits made, so why put only 20 again? At that time, he took the document. When the transaction happened, only then did he know that 20 were missing. Saying the money was not properly paid is being created because of this issue,” he said. 

The Minister concluded that while he does not claim the entire report is wrong, “some points, some sections in it, are wrong.” (Newswire)

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The Consumer Affairs Authority (CAA) has been equipped with two modern mobile mercury analyzers worth Rs. 18 million, donated under the United Nations Development Programme (UNDP), to strengthen consumer safety in Sri Lanka.

The symbolic handover took place today (27) at the Ministry of Trade, with subject Minister Wasantha Samarasinghe and CAA Director General Samantha Karunaratne present.

The new devices will allow rapid testing of mercury levels in whitening creams and other cosmetic products sold in the market. 

According to the Sri Lanka Standards Institute (SLSI), the maximum permitted mercury content in cosmetics is one milligram per kilogram. However, previous CAA investigations revealed that some products exceeded this limit.

Minister Samarasinghe stated that the machines will enable on‑the‑spot testing in shops across cities, ensuring consumer protection from counterfeit and unsafe creams containing excessive mercury. Tests can be completed within 5–10 minutes without additional chemicals or gases, reducing costs and allowing direct analysis of samples.

Officials of the CAA have already received technical training, and nationwide testing operations are expected to begin soon. 

The initiative aims to safeguard public health while ensuring a standardized marketplace compliant with international safety standards. (Newswire)

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Sri Lanka’s confectionery manufacturers have assured the government that prices of biscuits, ice cream, chocolates and other sweet products will not be increased until May, despite rising costs triggered by the ongoing Middle East conflict.

The assurance was given by representatives of the Lanka Confectionery Manufacturers’ Association during a meeting with Trade, Commerce, Food Security and Cooperative Development Minister Wasantha Samarasinghe on Wednesday.

The discussion focused on the impact of the current global situation on the confectionery industry and how decisions taken by manufacturers could affect consumers during a period of economic pressure.

Minister Samarasinghe noted that consumers were already struggling with rising living costs and stressed the need to manage the situation in a way that protects both local industries and the public.

He said the government expects manufacturers to maintain stability while also assuring that authorities are prepared to intervene and assist the industry in overcoming difficulties.

Lanka Confectionery Manufacturers’ Association President S.M.D. Sooriyakumara said the sector includes biscuit, ice cream and chocolate manufacturers, supporting around 50,000 direct jobs and more than 500,000 indirectly.

He noted that the local confectionery industry meets about 95 per cent of domestic demand and has attracted more than Rs. 15 billion in technological investments over the past decade.

Sooriyakumara said the industry is currently facing rising utility costs and higher prices for imported raw materials, but manufacturers have not increased prices since the COVID-19 period and are operating on limited margins.

He added that March, April, November and December are peak production periods, with manufacturers already producing and distributing goods for the Sinhala and Tamil New Year season.

“As an association, we have decided not to increase prices until after the New Year season despite the challenges,” he said.

However, he warned that price revisions may be considered after May if gas prices, electricity tariffs and raw material costs continue to rise.

The association also highlighted delays in clearing imported raw materials at customs and said additional shipping surcharges had already been introduced.

Manufacturers further requested the government to ensure adequate fuel supply for distribution during the New Year season and to address issues in the current fuel distribution mechanism.

The meeting was attended by officials of the Trade Ministry and representatives of the Lanka Confectionery Manufacturers’ Association. (Newswire)

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Milk powder importers and wheat flour companies today (23) assured Minister of Trade, Wasantha Samarasinghe, that the prices of imported milk powder and wheat flour in the country will not be increased.

They further pledged that sufficient stocks of imported milk powder and wheat flour will be supplied for the next three months, and confirmed that no price hikes of any kind will be introduced until the end of the upcoming New Year season.

The assurance was given during a meeting convened at the Ministry to discuss the impact of the prevailing war situation on supply and distribution networks and the need to maintain uninterrupted supply. 

Milk powder importers and wheat flour companies acknowledged that rising fuel prices and the depreciation of the dollar had affected production costs, but emphasized their commitment to work with the government to provide relief to the public during this difficult period.

The companies also highlighted that fuel quotas have disrupted distribution operations.

 In response, Minister Samarasinghe instructed them to register with a newly introduced special data collection program aimed at identifying the fuel requirements of transport service providers engaged in food distribution and ensuring proper planning in the sector. (Newswire)

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State-owned supermarket chain, ‘Lanka Sathosa’, has rolled out a special island‑wide sales promotion from today (20), aimed at providing consumers with essential food items and goods at reduced prices during the upcoming Sinhala and Hindu New Year festive season.

According to the Ministry of Trade, operating under the theme “Avurudu Siri from Sathosa”, the program offers discounts of up to 40% on 600 categories of essential goods. 

Customers making purchases above Rs. 2,500 will also receive coupons eligible for prizes.

The promotion will conclude at the end of April with a grand draw, where winners will receive prizes including a BAW electric car, electric scooters, household item sets, and smart mobile phones.

Price reductions on several essential goods have already been introduced, with Lanka Sathosa planning further reductions in the coming weeks.

Announcing the initiative at a press conference today, Trade Minister Wasantha Samarasinghe said Lanka Sathosa has drawn up a plan to ensure that consumers can access goods without shortages during the festive season.

“The Middle East conflict was reported at the end of February. Because we prepared from the beginning of March, we are able to provide relief to consumers during the festive season, offering goods at prices lower than the market without shortages. The aim now is not for Lanka Sathosa to make profits, but to provide relief to the people against the pressures and difficulties they face, ensuring that their shopping basket brings some comfort.

“Through our nearly 430 outlets, we will provide these concessionary prices until the end of the festive season. As a government, we are committed to giving maximum relief to the people through government institutions. Daily wage earners such as grass cutters, firewood collectors, labourers, and those commuting to work by motorcycle are facing hardships due to fuel shortages. We decided to provide relief through Lanka Sathosa by offering goods at reduced prices to prevent them from facing economic difficulties, too. Therefore, we invite the public to come to Lanka Sathosa to buy goods for affordable prices,” he said. (Newswire)

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Contractors for the Dambulla Agricultural Cold Storage Complex have agreed to submit a detailed work plan and requested six to eight weeks to fully complete the project, including electrical repairs. 

They noted that 99% of the construction is already finished, with only cooling system issues pending, and pledged to resolve them swiftly.

The agreement was made during a decisive meeting on the project, which was held at the Ministry of Trade, Commerce, Food Security and Cooperative Development, chaired by Minister Wasantha Samarasinghe. 

It was attended by Ministry Secretary K.A. Vimalenthirarajah, senior officials, Food Commissioner Lal Hewapathirana, representatives from the Indian High Commission, including Development Cooperation Advisor Maitrey Kulkarni, and contractors LQ‑SAW Engineering (Pvt) Ltd. The Indian partner joined via Zoom, while the Central Engineering Consultancy Bureau (CECB) was represented by Deputy General Manager V. Ratnam and her team.

Secretary Vimalenthirarajah opened the discussion by clarifying the purpose, stressing that the project is urgently needed and delays have deprived the country of this facility. 

“Last year, this project was inaugurated by the leaders of India and Sri Lanka with the expectation that it would be completed quickly. Unfortunately, a year has passed, and it is still unfinished. Since this involves public funds and grants from both countries, we must ensure completion within a set timeframe. The whole country is watching to see why this facility is not yet operational, and we cannot allow further delays,” Minister Samarasinghe said, stressing the importance of swift completion. 

The CECB highlighted issues such as roof leakage, ground-level problems, and faults in the cooling system, identifying the cooling system as the main challenge.

Indian High Commission representative Maitrey Kulkarni stated that roof and ground issues had already been partly addressed, and the remaining major issue was the cooling system. It was agreed to replace or reinstall defective cooling machinery, ensure humidifiers function properly, and determine the minimum sustainable cooling level. 

The Indian contractor and LQ‑SAW Engineering representatives explained that 99% of the project was complete, with only the cooling system pending. They committed to finishing maintenance within four weeks, requesting electricity supply and relief from penalty charges due to delays caused by COVID‑19 and national circumstances. 

Kulkarni thereafter outlined the next steps in moving the project forward, noting that the Central Engineering Consultancy Bureau (CECB) must first test and prepare the system for monitoring, followed by inspections to check for any damage caused by rodents or leaks of gas or coolant. 

He added that the three chambers already imported to Sri Lanka should be installed, and stressed the need to ensure voltage stabilizers are in place to protect the equipment before operations commence. 

The contractor agreed to submit a work plan and requested 6–8 weeks to fully complete the project, including electrical repairs. Minister Samarasinghe instructed contractors to expedite work and complete within the agreed timeframe. (Newswire)

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Minister of Trade, Commerce, Food Security and Cooperative Development, Wasantha Samarasinghe, yesterday (16) assured that the government is taking steps to ensure the public has access to essential goods during the upcoming festive season, despite disruptions caused by the global war situation.

Addressing a special media briefing to mark International Consumer Rights Day, the Minister noted that daily developments in the global conflict have impacted Sri Lanka’s supply chains, including fuel, gas, and key imports such as potatoes, onions, sugar and lentils. While 80% of potatoes and onions, and all lentils, are imported, he said rice stocks are sufficient for three to four months. 

He added that four oil shipments due by April have been confirmed, while gas supplies are being provided under existing agreements until December 31. “We are monitoring the situation daily and working with importers, producers and distributors to maintain supply,” he said.

Responding to questions on whether individuals or associations can arbitrarily raise food prices in view of the upcoming festive season, the Minister stressed that such announcements are often made by individuals rather than formal associations. 

He warned that unfair price hikes will be investigated and revealed plans to introduce price ranges for short eats, following market surveys and discussions with bakery owners. “If costs rise by 8%, you cannot raise the price of a short eat by 50%. That’s unfair. We will act to protect consumers,” he said.

On online trade, Minister Samarasinghe said networks selling discounted goods through social media have expanded, especially during festive seasons. 

He announced that online businesses and courier services will be required to register with the Consumer Affairs Authority to ensure consumer safety. “Even through online marketing, goods must be of quality. If substandard goods are sold online, we are paying attention to that too,” he said.

Meanwhile, coinciding with International Consumer Rights Day, the Consumer Affairs Authority launched a series of special programs across the island. 

These include public awareness campaigns, laboratory testing of goods, and a crackdown on harmful creams and lotions. 

District offices have been instructed to conduct 250 raids over two weeks, while complaints received via the hotline 1977 will be given special attention. (Newswire)

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Minister of Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe has ordered streamlining the operations of Ayurvedic Spas, to prevent the operation of brothels under the guise of spas. 

During a meeting with officials from the Ayurvedic Department, Police and Pradeshiya Sabhas, Minister Samarasinghe was informed of a practice where companies register as Ayurvedic Spas or ordinary companies, but operate as brothels. 

Discussions were also held on the lack of sufficient laws and proper procedures for regulation, resulting in such Spas being established in tourist areas. 

Minister Samarasinghe said that specific laws and regulations must be put in place for the registration of companies at the Pradeshiya Sabha, with approval from the Department of Ayurveda for the operation of Ayurvedic Spas. 

He advised the Pradeshiya Sabhas, the Department of Ayurveda, and the Police to discuss and propose recommendations to introduce regulations to prevent the operation of brothels under the guise of Ayurvedic Spas. 

Minister Samarasinghe said steps must be taken to shut down brothels operating at Spas, instructing officials to suspend the business registration of establishments raided by the Police and confirmed to be operating as brothels. 

The directives were issued following the recent increase in brothels in tourist areas. (Newswire)

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Minister of Trade, Commerce, Food Safety, and Cooperative Development, Wasantha Samarasinghe, yesterday undertook an inspection tour of the Sri Lanka Thriposha Company in Ja-Ela.

Following the site visit, Chairman Amal Attanayake and the Board of Directors briefed Minister Sanarasinghe on the current status of the company and its future goals. 

Previously slated for closure under the former government, Sri Lanka Thriposha Limited was re-established under the Ministry of Health after the new government came to power. 

A recent gazette notification, issued following a cabinet reshuffle, has now placed the company under the Ministry of Trade, Commerce, Food Safety, and Cooperative Development.

To strengthen food security, the company was transferred to the Trade Ministry, while Health Minister Nalinda Jayatissa had previously ensured continuous production and public distribution of Thriposha products.

During his visit, Minister Wasantha Samarasinghe emphasized the importance of an uninterrupted supply of raw materials such as maize and soybeans, which are essential for producing Thriposha and other nutritional products. 

He also provided guidance on expanding production and ensuring proper distribution to infants, pregnant mothers, and lactating women. Additionally, he encouraged the promotion of other products like Suposha, cookies, cupcakes, calorie bars, and aggala to the public.

Minister Samarasinghe was also briefed on operational challenges and pledged to provide practical solutions, ensure timely intervention for employee welfare, and explore cooperative-based distribution models to deliver Thriposha products directly to consumers. (Newswire)

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Minister of Trade, Commerce, Food Security, and Cooperative Development, Wasantha Samarasinghe, participated in the opening ceremony of the 16th United Nations Conference on Trade and Development (UNCTAD), held in Geneva, Switzerland, on Monday (20).

This conference is the UN’s premier forum on trade and development. It brings together leaders from 195 member states, including heads of state, trade and economic ministers, heads of international organizations, Nobel laureate economists, civil society groups, development banks, financial institutions, and global trade organizations, to discuss current global trade, finance, investment, technological trends, and challenges.

As the UN’s highest decision-making body on trade and development, the conference will assess current issues faced by member states and formulate global policy directions for the next four years.

Held under the theme “Shaping the Future,” the conference also included the G77 and China ministerial meeting.

“From climate impacts and debt burdens to digital and economic divides, the multiple crises we face expose deep inequalities in the global economy. Developing nations, especially small and vulnerable countries like Sri Lanka, require urgent reforms and collective solutions to address these challenges. We reaffirm UNCTAD’s central role in shaping trade and development strategies and safeguarding the policy space needed to pursue our national priorities. Strengthening UNCTAD’s analytical and technical capacities is essential. We emphasize the need for enhanced cooperation and technology exchange to ensure all countries can benefit from emerging opportunities and build resilience. Together, through shared purpose and collaboration, we can move toward a more just and sustainable global economic order,” Minister Samarasingeh said, addressing the event. 

Following the opening, the conference’s formal dialogue began, where Minister Samarasinghe added, “We meet at a time when the world is facing many challenges. Developing countries, especially small and vulnerable nations like Sri Lanka, are under pressure. The COVID-19 pandemic, climate disruptions, debt crises, and rising global tensions have made it difficult for us to grow our economies and improve the lives of our people. But we are not here to surrender hope. We are here to demonstrate that multilateralism and international cooperation still matter and to seek solutions.”

Minister Wasantha Samarasinghe further expressed confidence that, despite difficulties, Sri Lanka remains hopeful, adding that with support from UNCTAD and development partners, the country can recover strongly, build green economies, and offer a better future to its people.

The Minister is also scheduled to participate in several bilateral meetings in Geneva, while the 16th UNCTAD session continues until October 23. (Newswire)

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The first session of Sri Lanka’s fifth Trade Policy Review (TPR) at the World Trade Organization (WTO) commenced in Geneva, Switzerland, on Wednesday (15).

The session, to be held until 20th October 2025, is led by a delegation headed by Minister of Trade, Commerce, Food Security and Cooperative Development, Wasantha Samarasinghe.

During the session, Sri Lanka was given the opportunity to engage in a broad discussion on its economic development goals, with special focus on trade, tariffs, services, and investment policies.

According to Minister Wasanatha Samarasinghe, the review of the new government’s economic policies before WTO member states is considered a highly valuable opportunity, marking a decisive moment for Sri Lanka to re-engage with the multilateral trading system.

This Trade Policy Review is also the first to be held following the appointment of the new government, including President Anura Kumara Dissanayake.

“As the review began under two sessions, I delivered the opening statement on behalf of the country undergoing review,” the minister said, in a statement on social media. 

Minister Wasantha Samarasinghe further said that with attention given to the positive developments, challenges, and issues in Sri Lanka’s trade policies, more than 20 member countries, including China, Japan, Singapore, New Zealand, and the United Kingdom, expressed keen interest in Sri Lanka’s trade sector and offered high praise for its policies.

The second session of the Trade Policy Review will be held on 17th October 2025, during which Sri Lanka will respond to detailed questions from WTO member states.

Representing Sri Lanka at this Trade Policy Review were officials from the Ministry of Trade, the Department of Commerce, the Ministry of Finance, the Central Bank, the Board of Investment, and Sri Lanka Customs. (Newswire)

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A group of senior representatives from U.S. think tanks and the private sector met with the Minister of Trade, Commerce, Food Security, and Cooperative Development, Wasantha Samarasinghe, this week.

This delegation, including investors from various U.S. states interested in investing in Sri Lanka, is particularly active in India and the broader Asian region. 

They expressed strong interest in food security, food processing industries, export sectors, and port operations.

During the meeting, Minister Samarasinghe highlighted upcoming trade agreements, investment opportunities, and commercial prospects. He also briefed the delegation on the ministry’s efforts to ensure food security in the market and regulate market conditions.

The discussion focused on expanding trade and export opportunities with Sri Lanka, increasing investment prospects, and the delegation’s particular interest in food security and the food processing sector. They expressed a positive willingness to invest in Sri Lanka in the future.

The meeting was attended by Ministry Secretary K.A. Wimalenthiraraja, Ministry Advisor Shantha Jayaratna, and other officials, along with Kosala Wilbawa (Chairman of the National Cooperative Wholesale Establishment), Asanka Pranandu (Executive Officer), Samitha Perera (Chairman of Lanka Sathosa), and Ravindra Pranandu (Chairman of the State Trading Corporation), among others. (Newswire)

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Minister of Trade Wasantha Samarasinghe says Sri Lanka is working to address the trade imbalance with India by utilizing provisions in its existing trade agreement to increase Sri Lankan exports to India. 

India is Sri Lanka’s largest trading partner and was one of the first countries with which Sri Lanka signed a Free Trade Agreement (FTA). 

Recently, the PHD Chamber of Commerce and Industry (PHDCCI) hosted an interactive business session with a high-level Sri Lankan delegation led by Minister Wasantha Samarasinghe.

In an exclusive interview with Pushpita Dey from the New Indian Express, Minister Wasantha Samarasinghe discussed Sri Lanka’s desire to welcome more Indian investors.

Edited excerpts of the interview are as follows;

India is Sri Lanka’s largest trading partner. How do you foresee the balance of trade between the two countries in the coming years?

India is our most important trading partner. While we import many consumer goods from India, the country has also provided significant support to Sri Lanka during difficult times. We are working to address the trade imbalance by utilizing provisions in our existing trade agreement to increase Sri Lankan exports to India. We have plans to enhance our export facilities and are focusing on boosting shipments of garments, textiles, tea, and other products to the Indian market.

Given the rise of regional trade agreements like RCEP, which Sri Lanka is seeking to join, how do you plan to balance your trade strategy between India, China, and other Asian partners?

We have several existing trade agreements with regional countries. However, many were signed years ago, and the global landscape has changed dramatically. We need to revisit and modernize these agreements—both regional and bilateral—with partners like China, India, and Bangladesh. We have already signed agreements with Thailand and Singapore and are receiving interest from others. When we sign a new agreement, it must be a win-win situation for both sides, which requires careful consideration and negotiation.

Indian investment in Sri Lanka has been rising, especially in hospitality and tourism. How is your ministry working to attract more Indian investors?

Indeed. We have opened our hospitality sector to investors from around the world, including India. This sector is primarily private-driven. The government’s role is to facilitate, not control or restrict. We provide the regulatory framework and facilitation for anyone wishing to invest. We believe there is a significant opportunity in Sri Lanka’s hospitality sector, and we would certainly like to see more Indian investors participating in it in the near future.

How do current geopolitical shifts—such as supply chain diversification and global trade tensions—impact Sri Lanka’s trade relations with India and other countries?

The current geopolitical situation creates challenges, such as reciprocal tariffs imposed by the US and other nations. This requires us to balance our approach and work collaboratively with partner countries. While these tariffs can limit benefits, we must adapt. If certain markets become difficult due to tariffs, we will seek new ones. So, while geopolitics presents difficulties, it also opens up opportunities. Our plan is to find these new opportunities and markets.

The Adani Group withdrew from a 484 MW wind project after the Colombo government allegedly moved to renegotiate the terms. Can we expect Adani or other Indian conglomerates to restart the project?

Of course. For that specific wind power project, the bid price from the Adani Group was considerably higher than the market rate. The unit price they offered was 8 cents, whereas comparable projects in India are around 3 cents. To provide context, Sri Lankan investors were bidding at around 4.6 cents for projects in India. We conveyed our concerns about this price disparity. The Adani Group is welcome to reconsider and revise their price

As a government, we must evaluate every investment based on its impact on our people and the country. This principle applies to all investors, including Adani or any other Indian conglomerate. Any Indian investor is welcome to invest, provided the terms are mutually beneficial and positive for Sri Lanka. Adani can certainly reconsider this project, and we are open to all serious investors. (New Indian Express)

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