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GoSL issues statement on talks held over US tariffs

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A Sri Lankan delegation met with US Trade Representative Ambassador Jamieson Greer on the 22nd of April, 2025 at the US Trade Representative Office in Washington D.C.

Sri Lankan delegation on the instructions of President Anura Kumara Disanayaka, who is also the Minister of Finance, handed over the originals of communications addressed to US Trade Representative Ambassador Greer on behalf of the Government of Sri Lanka.

The delegation updated Ambassador Greer on the challenges that Sri Lanka has faced in the past and the steps that are been taken by the Government of Sri Lanka to overcome future challenges and move towards full economic recovery.  Sri Lankan delegation highlighted the prompt and positive commitment of the Government of Sri Lanka to work with the US Government in reducing the trade deficit, and lowering tariff and non-tariff barriers.  

Ambassador Greer was appreciative of the proposals that Sri Lanka has made in order to commence negotiations and expressed the hope that an agreement can be reached soon between two countries to ensure fair and equitable trade relations.  

Later on that day, the Sri Lankan delegation met with the USTR delegation appointed by Ambassador Greer lead by Assistant United States Trade Representative, In-charge of South and Central Asia, Brendan Lynch along with Director In-charge of South Asia, Emily Ashby to discuss further the offer made in writing by Sri Lanka to the US.  The two sides agreed to continue the discussions with the objective of finalizing a bilateral trade agreement between the two countries.  Both sides expressed the desire to finalize the agreement in the shortest possible time period.

The Office of the U.S. Trade Representative (USTR) is responsible for developing and coordinating U.S. international trade, commodity, and direct investment policy, and overseeing negotiations with other countries. The head of USTR is the U.S. Trade Representative, a Cabinet member who serves as the president’s principal trade advisor, negotiator, and spokesperson on trade issues.

(President’s Media Division)

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Seat belt compulsory for bus drivers from today

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The National Transport Commission (NTC) has announced that starting today (July 01), it will be mandatory for all bus drivers to wear seat belts, with strict penalties for non-compliance.

Under the MotorTraffic Act, bus drivers are legally required to wear seat belts, but a rise in accidents due to drivers ignoring this rule has prompted the authorities to re-enforce it.

Police confirmed that action will be taken against drivers who fail to comply.

Meanwhile, the Ministry of Transport has also stated that wearing seat belts will be made mandatory to all passengers of light vehicles travelling on expressways from August 01, 2025.

Meanwhile, wearing seat belts will also be mandatory to all passengers of all vehicles on expressways from September 01, 2025.

Minister of Transport, Highways, Ports, and Civil Aviation Bimal Rathnayake also confirmed the directive while speaking to media this morning (July 01) during an inspection tour at the Colombo Central Bus Stand.

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End of parate relief for large SMEs

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The grace period granted to small and medium-sized enterprises (SMEs) under Sri Lanka’s Parate Execution Law officially ended midnight yesterday (June 30) for businesses with loans exceeding Rs. 50 million.

The Parate Law grants banks the authority to seize properties pledged as collateral without court proceedings. Although its implementation had been suspended for three months by the current administration—and for six months earlier under former President Ranil Wickremesinghe—it has now been reinstated, triggering serious concern among entrepreneurs.

Deputy Minister of Economic Development – Dr. Anil Jayantha Fernando  has stated that the government intends to hold discussions with all relevant parties in the coming days to address the issues linked to the law’s reimplementation.

Meanwhile, Opposition Leader – Sajith Premadasa has warned that the re-implementation of the Parate Execution Law could lead to the rapid auctioning of assets from small, medium, and micro businesses, putting them at risk.

In a statement yesterday (June 30), he emphasized that these businesses contribute over 50% to Sri Lanka’s Gross Domestic Production (GDP) and employ over 04 million people.

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Ex-SriLankan Airlines chief produced before court

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Former Chairman of SriLankan Airlines – Nishantha Wickramasinghe has been produced before the Colombo Magistrate’s Court by prison officials today (July 01).

Wickramasinghe was arrested last week by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) and is currently in remand custody,

Related News :

https://srilankamirror.com/news/2-ex-heads-of-govt-institutions-arrested/

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