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Govt. to implement Trade Adjustment Program

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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

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Date announced for Grade 05 scholarship exam

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The 2023 Grade 05 scholarship exam will be held on 15 October, the Department of Examinations says.

Accordingly, the exam will be held at 2,888 centres across the country, Commissioner General of Examinations – H. J. M. Amith Jayasundara said.

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Nadeesha wins Silver at Asian Games

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Nadeesha Dilhani Lekamge has won the silver medal in the women’s javelin throw event at the 2023 Asian Games currently being held in Hangzhou, China.

She won the silver with an impressive throw of 61.57m which is also her personal best.

India’s Annu Rani won the gold medal in the event while China’s Lyu Huihui won the bronze medal.

This is the first athletics medal for Sri Lanka at the Asian Games in 17 years and only the second medal for the island nation so far this year.

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Fish processing unit at Oluwil to be leased

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The cabinet has previously given approval to reactivate the unused fish processing plant in the Oluwil fishing port premises and provide facilities to the TES (Private) Company Limited to run fish processing activities.  

Accordingly, the Cabinet of Ministers approved the proposal presented by the Minister of Fisheries to lease the fish processing unit located in the Oluwil Ports Complex to TES (Private)  Company Limited for a period of 10 years subject to the relevant rent being charged monthly, as recommended by the Cabinet Appointed Negotiation Committee.

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