Connect with us

News

Govt. to implement Trade Adjustment Program

Published

on

The President emphasized on the need to gradually liberalize the service sector to attract Foreign Direct Investment into the country and to take steps to gain membership in the Regional Comprehensive Economic Partnership (RCEP).

President Ranil Wickremesinghe made these remarks during his meeting with the officers of the National Trade Negotiations Committee at the Presidential Secretariat on Friday (04).

The President instructed the officers at length about free trade negotiations as well as the future outlook of international trade and on aligning policy priorities in this regard.

He further stated that in parallel to the expansion of international trade activities, the government will implement a Trade Adjustment Program to support the local industries to further adjust with competition.

Access to regional and global supply chains and re-engagement with the global economy to enhance export and export-oriented foreign direct investment is an element of the government’s economic reform program to revitalize the domestic economy.

Accordingly, while further penetrating into the main export markets of USA and Europe, the government is currently engaged in an effort to establish comprehensive free trade agreements targeting large and emerging economies in order increase exports.

For this purpose, the government has taken steps to establish a National Trade Negotiation Committee (NTNC) and the main task of this committee is to revive the negotiations of free trade agreements with strategic importance to India, China and Thailand markets where large foreign direct investment and export potential is prevalent and local industries affected by the economic crisis can obtain capital inputs, raw materials and intermediate goods at a lower cost.

The Secretary to the President and the Secretary of the Ministry of Trade, Commerce and Food Security as well as officials from the Ministry of Foreign Affairs, the Attorney General’s Department, the Treasury, and the Department of Commerce and senior officials from the line Ministries and several others attended this meeting.

President Media Division (PMD)
06.11.2022

News

12 Indian fishermen released on strict bail conditions

Published

on

By

Point Pedro Magistrate Ponnathurai Krishanthan has ordered ordered the release of 12 Indian fishermen who were arrested and remanded for fishing in the territorial waters of Sri Lanka.

The magistrate had ordered the release of the concerned fishermen under a suspended sentence of 1 1/2 – 10 years and forbade them from entering the Sri Lankan waters again.

The fishermen, who were released on strict conditions, are to be handed over to the Indian coastguard security officials through the Indian Consulate General in Jaffna with the help of the Navy.

(Source : Lankadeepa)

Continue Reading

News

Closed area of ’18 Wanguwa’ reopened

Published

on

By

The stretch of the Kandy-Mahiyangana Road which was closed near the second bend of the 18 Hairpin Bends (18 Wanguwa) has been re-opened for traffic.

Police had announced last evening (March 19) that the 2nd hairpin bend of the ‘Dahaata Wanguwa’ on the Kandy-Mahiyangana road, was temporarily closed off due to an earth slip and rocks falling onto the road.

However, the stretch of road has now been reopened for traffic movement after clearing the debri.

The decision to reopen the road was taken after a joint site inspection by the Kandy district Disaster Management Centre, the NBRO and the RDA, says Director of the district DMC – Mr. Deshapriya Bandara. 

However, he urged motorists to be cautious as there is a risk of further earthslips during heavy rain.

Continue Reading

News

Kudu Salindu’s petition : AG given time to file objections

Published

on

By

The Court of Appeal today (March 20) granted time for the Attorney General (AG) to submit limited objections regarding the petition filed by the mother of Salindu Malshika Gunaratne alias “Kudu Salindu”.

She is requesting to ensure the safety of her son, who is currently detained under the custody of the CID.

Accordingly, the court has also ordered the Attorney General to file the relevant limited objections before April 04, 2023.

The petition was taken up before a judge bench consisting of the President of the Court of Appeal, Justice Nissanka Bandula Karunaratne and Justice A. Marikkar.

Continue Reading

Trending

Copyright © 2022 Sri Lanka Mirror. All Rights Reserved