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SL to set up International Trade Office

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On the directions of President Ranil Wickremesinghe, the Government decides to reorganize the existing conventional institutional set-up and newly establish the International Trade Office (ITO) to interconnect all the relevant institutions and synergize their work to obtain maximum output from the external trade sector to the National Economy.

Realizing the untapped economic potential of trade and investment via linking with regional and global value chains is a major element of the Government’s economic revival programme. Towards this end, the ambition is to first integrate into South Asia and then expand to the east; China, Thailand and Indonesia linking to the Regional Comprehensive Economic Partnership (RCEP) which consists of 30% of the world’s GDP, trade and population.

To achieve this overarching objective, there is no alternative but to formulate a strong institutional structure to manage Sri Lanka’s presence in international trade while removing the existing compartmentalization of trade-related institutions and eliminating the gaps in the approaches taken by multiple institutions. The Government has decided to reorganize the existing conventional institutional set-up and newly establish the International Trade Office (ITO). ITO will interconnect all the relevant institutions and synergize their work to obtain the maximum output from the external trade sector to the National Economy.

The ITO, once it is established through an Act of Parliament will be headed by an Ambassador of International Trade, supported by an eminent group of advisors who has expertise in international trade and the core structure of the institution will consist of designated officers from all the relevant institutions attached to it. The National Trade Negotiation Committee which undertakes the Free Trade Negotiations will also be an integral part of the ITO. As announced in the 2023 Budget Speech, the ITO will initially be established under the Ministry of Finance and subsequently, it will be amalgamated into the Ministry of Foreign Affairs to implement Sri Lanka’s foreign trade development policy across the world with enhanced and effective coordination.

Until the establishment of the ITO is fully completed, the core staff of the institution have been built up at the Presidential Secretariat immediately to start functioning. Accordingly, taking immediate measures to operationalize Sri Lanka – Singapore FTA (SLSFTA) which entered into force in May 2018 but has not been operationalized till now, will be the first task of the ITO. The Joint Committee set up in accordance with SLSFTA comprising designated officials from both countries will meet in January 2023 and finalize the modalities to agree on operationalization.

In parallel, by next January the ITO will resume negotiations of the three FTAs with India, China and Thailand. The Chief Negotiator and the National Trade Negotiation Committee (NTNC) comprising Sub Committees on specific areas have been appointed by the Cabinet for this task. In parallel, the government plans to resume negotiation of the three FTAs with India, China and Thailand. The 12th round of negotiations with India, the 7th round of negotiations with China and the 3rd round of negotiations with Thailand will be held during the first two months of 2023. It is planned to complete these negotiations possibly within the next year. Stakeholder consultations will be held with relevant Chambers/associations before and after of every round of negotiation to make them aware of the status of negotiations as they are the ultimate beneficiaries of the FTAs with enhanced market access. Already, the first stakeholder awareness programme was held on Nov 17 of 2022. Moreover, simultaneous actions will also be taken through this office to revive the PTA negotiations with Bangladesh and Indonesia.

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PCB postpones PSL

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The Pakistan Cricket Board (PCB) has announced the postponement of the remaining eight matches of the HBL PSL X.

A statement from Pakistan Cricket Board says : 

The last 24 hours have seen a worsening of the situation on the LOC, increased incursion of 78 drones, and the firing of surface to surface missiles from India.

The decision to postpone has been taken pursuant to advice received from the Prime Minister Mian Muhammad Shahbaz Sharif who has kept in view the reckless aggression from India that has escalated to a point where national attention and sentiments are rightly focused on the courageous efforts of the Armed Forces of Pakistan who are vociferously upholding the sovereignty of our beloved Pakistan.

The PCB and its players stand resolutely in solidarity with the families of the martyrs and our security personnel defending the nation.

The PCB recognizes the efforts and support of its partners, franchises, participating players, broadcasters, sponsors, and organizers in having ensured the smooth conduct of the tournament thus far, however; cricket while being a unifying force and a source of joy, must take a respectful pause when the country is facing such callous opposition.

We, at the PCB, also have sincere regard for the mental well-being of participating players and the sentiments of our foreign players, and we respect the concerns of their families who want to see them back home.

Yesterday, it was also announced that the IPL will also be suspended for a week.

Related News :

IPL suspended for a week over safety concerns

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Minister Nalinda elected President of Sri Lanka-India Parliamentary Friendship Association

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Minister of Health and Mass Media and Chief Government Whip Dr. Nalinda Jayatissa has been elected as the President of the Sri Lanka – India Parliamentary Friendship Association for the Tenth Parliament, the Department of Communications of Parliament said.

The revival meeting of the Friendship Association was held on May 08, 2025 in Parliament under the patronage of the Speaker of Parliament, Dr. Jagath Wickramaratne.

The High Commissioner of India to Sri Lanka, Santosh Jha, graced the occasion as the Guest of Honor. The event was also attended by the Deputy Speaker of Parliament, Dr. Rizvie Salih, the Leader of the Opposition, Sajith Premadasa, Ministers, Deputy Ministers, Members of Parliament, and the Secretary General of Parliament, Mrs. Kushani Rohanadeera.

At the meeting, Member of Parliament Dr. Kavinda Jayawardhana was elected as the Secretary of the Sri Lanka – India Parliamentary Friendship Association, the statement added.

During the meeting, representatives from both Sri Lanka and India highlighted the deep-rooted and enduring relationship between the two nations, spanning centuries. They emphasized the importance of strengthening parliamentary cooperation through exchange programs and sustained dialogue, according to the statement.

The Speaker expressed appreciation for India’s steadfast support during Sri Lanka’s most challenging times. He also highlighted the recent state visit of President Anura Kumara Dissanayake to India as a key milestone that has opened new avenues for bilateral collaboration. 

He also expressed his gratitude for organizing the upcoming Capacity Building Programme for newly elected Members of Parliament of Sri Lanka, to be conducted by the Bureau of Parliamentary Studies and Training of India later this month, it added.

Addressing the gathering, the High Commissioner of India to Sri Lanka, Santosh Jha, recalled the successful visit of the Indian Prime Minister Narendra Modi to Sri Lanka and reaffirmed India’s commitment to support Sri Lanka across multiple sectors as a close and trusted neighbor.

In his speech, the newly elected President Dr. Nalinda Jayatissa emphasized the vital role of the Friendship Association as a bridge between the two Parliaments and expressed confidence in fostering meaningful engagement to deepen the already strong ties between Sri Lanka and India, it said.

Delivering the vote of thanks, the Secretary of the Friendship Association he Dr. Kavinda Jayawardhana conveyed his heartfelt appreciation to India for its enduring friendship and reaffirmed Sri Lanka’s commitment to continued cooperation.

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Vesak week commences tomorrow

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The National Vesak Week will commence tomorrow (May 09), under this year’s theme of “Let’s associate with noble people with good qualities.”

According to the secretary to the Ministry of Buddha Sasana, Religious and Cultural Affairs, W.P. Senadheera said that it will continue until May 16.

The official inauguration ceremony will take place tomorrow at the Nuwara Eliya Buddhist Center, under the patronage of President Anura Kumara Dissanayake.

Sri Lanka Railways has announced special train services during the Vesak week and the long weekend.

Meanhwile, the Ministry of Public Administration has ordered the closure of slaughterhouses, meat vendors, casinos, and clubs nationwide from May 12 – 14 May for the state Vesak Festival. 

A circular issued on April 29 instructs all relevant businesses to comply during the period.

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