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China welcomes resumption of SL free trade talks

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China has welcomed the resumption of free trade agreement talks by Sri Lanka as the country attempts to boost exports, after years of closed market policies under the Rajapaksa regime that allowed businessmen to exploit domestic consumers.

“I am glad to see after five years suspension Sri Lanka government decided to resume bilateral FTA negotiations in the second half of this year,” Li Guangjun, Economic and Commercial Counsellor, Embassy of Peoples’ Republic of China in Colombo said.

“I sincerely wish that both sides could work together and reach an agreement as early as possible for expanding our trade and investment co-operation.”

He was speaking at the 21st Annual General Meeting of Sri Lanka – China Business Council of the Ceylon Chamber of Commerce.

“Over the past decade bilateral relations have been cordial and friendly which had made the possibility of great progress in achieving economic and trade co-operation between our two countries,” Li said.

In 2021 China was Sri Lanka’s second largest trading partner and the largest source of foreign direct investment, he said.

“In spite of the pandemic and sluggish global growth business ties have continued to grow,” Li said.

Sri Lanka started to rob consumer sovereignty extensively from around 2005, with key economic policy makers and of then President Mahinda Rajapaksa supporting 1970s style import substitution, calling it ‘import replacement.’

High import duties allowed key businessmen close to the administration making building materials, shoes and confectionery businesses in particular to exploit consumers selling goods at twice or three times the world prices, critics say.

In addition to high informal port duties, other so-called para tariffs, the Airport and Port Levy and- CESS was deployed against consumers.

The CESS was an unusual tax brought to boost exports coming under the Export Development Board, allowing valued added exporters to exploit primary producers with lower than global prices in another dog-eat-dog policy –

Sri Lanka started to close the economy with ever tightening exchange controls around 1952 about two years after a Latin America style central bank was set up in 1950 abolishing a currency board.

As economists printed money to suppress rates, import controls were brought in.

In 1969 a formal import control law was brought as economists misled then Prime Minister Dudley Senanayake to enact the Import and Export Control Law instead of controlling economist’s ability to print money under ‘flexible’ policies.

He was defeated in subsequent elections.

The 1970s saw the height of trade controls with the central bank owning most of the Treasury bills issued by the government, a situation almost replicated in 2022 as the country goes through the worst currency crisis in the history of the central bank.

From around 1978 Sri Lanka opened the economy from trade but did not reform its central bank economists, continuing to print money, while the export CESS was also brought in.

In 1980 with the rupee coming under pressure as the economy grew strongly then President J R Jayewardene brought in Goh Keng Swee, the economic architect of Singapore whose advise not to print money was apparently ignored by the economists denying monetary stability to the people.

(economynext.com)

(Except for the headline, this story, originally published by economynext.com has not been edited by SLM staff)

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All necessary procedures to launch Starlink services in SL competed – Dy. Minister

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The government has completed all necessary procedures to launch Starlink services in Sri Lanka, says Deputy Minister of Digital Economy Eranga Weeraratne.

According to Deputy Minister Weeraratne, once the expected information dashboard is received from Starlink, the service could be launched without any operational delays.

He made this statement while attending a bilateral meeting organized by the Sri Lankan High Commission in Singapore, held alongside the 2025 Tech Summit Asia in Singapore.

The matter was discussed during a meeting between Deputy Minister of Digital Economy Eranga Weeraratne and Ambassador Stephan Lang, the United States’ Coordinator for International Communications and Information Policy at the U.S. Department of State.

During the meeting, several strategic areas were also discussed.

Ambassador Lang emphasized the importance and urgency of these initiatives, describing them as both challenging and essential for Sri Lanka’s digital future. He reiterated the United States’ continued commitment to supporting Sri Lanka in implementing these transformative digital policies and programs.

(adaderana.lk)

(Except for the headline, this story, originally published by adaderana.lk has not been edited by SLM staff)

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2 more arrested over shooting Halloluwa’s vehicle

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Two more individuals have been arrested over the shooting incident targeting the vehicle of former Executive Director of the National Lotteries Board –  Thusitha Halloluwa.

According to the police, the duo was arrested by the Colombo South Divisional Crime Detective Bureau today (02).The suspects, aged 27 and 37 have been arrested in Kadawatha and Ganemulla.

According to Police, a cache of 13 rounds of T-56 type ammunition and 10 grams of the crystal methamphetamine also known as ICE were also found in the suspects’ possession.

The suspects are scheduled to be produced before the Hulftsdorp Magistrate’s Court tomorrow (June 03).

Further investigations are underway.

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MoH issues update on Covid-19 situation

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Secretary of the Ministry of Health – Dr. Anil Jasinghe has issued a special statement with regard to the Covid-19 situation in Sri Lanka.

“According to data from the World Health Organization (WHO), a global increase in the activity of the SARS-CoV-2 virus, which causes COVID-19, has been reported since February 2025. Based on the International Respiratory Surveillance System, several countries, including several countries in Asia have reported a notable rise in COVID-19 cases in recent months, the statement states.

In May 2023, the WHO officially declared the end of the COVID-19 global pandemic status, and since then, COVID-19 has been treated as a disease that circulates endemically, similar to other common respiratory infections. It is a known phenomenon for the SARS-CoV-2 virus to undergo genetic mutations during its transmission,” the statement added.

“It is a known phenomenon for the SARS-CoV-2 virus to undergo genetic mutations during its transmission. The currently circulating variant reported in many countries in 2024 has been identified as a sub lineage of a previously known genetic variant. In 2024, this same variant has been detected in Sri Lanka as well.”

“In May 2025, specimens tested by the Medical Research Institute (MRI) confirmed the presence of these previously identified sub-lineages. Therefore, these are not novel variants, and no evidence of increased severity or complications has been reported,” the statement further notes.

Noting that seasonal increases in respiratory illnesses like influenza are commonly observed in recent times, especially under prevailing climatic conditions, the statement states that health authorities remain vigilant in monitoring disease trends, and the public need not panic unnecessarily.

“If individuals experience fever or respiratory symptoms, there is no need for hospital admission out of fear. However, if someone experiences difficulty breathing, medical attention should be sought,” Dr. Jasinghe says.

“Nevertheless, it is important to maintain good respiratory etiquette and general health practices to prevent the spread of COVID-19 and other respiratory viral infections, such as influenza. Recommended measures include covering the mouth and nose with a tissue or the elbow when coughing or sneezing, avoiding unnecessary contact with the face, and ensuring frequent hand hygiene through proper hand washing or the use of alcohol-based hand sanitizers. It is also advisable to avoid touching the face with unclean hands. Individuals exhibiting symptoms of respiratory illness should wear a face mask to minimize the risk of transmitting the infection to others and avoid crowded public settings unless essential. Special attention must be directed towards high-risk populations, as they are more susceptible to developing complications from respiratory infections. These groups include older adults, pregnant women, and infants and young children, whose immune systems are either compromised or still developing. Furthermore, individuals with underlying medical conditions such as heart disease, chronic respiratory illnesses, diabetes, renal disease, cancer, or other chronic diseases, as well as those receiving immunosuppressive therapy, are at increased risk and require additional protection,” the statement further adds.

The full statement is as follows :

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