Sri Lanka’s Trade Reforms Aim to Ease Export Pain Points

COLOMBO (News 1st); Sri Lanka’s trade negotiations with the United States have reached an advanced stage, covering key areas such as energy imports, agricultural access, and intellectual property rights, according to Dr. Harshana Suriyapperuma, Secretary to the Treasury.

Responding to a journalist’s question about whether the U.S. would be granted quotas for oil and agricultural exports to Sri Lanka, and whether intellectual property protections were part of the discussions, Dr. Suriyapperuma confirmed that these topics were indeed being addressed.

“Sri Lanka is a net importer of energy,” he said. “So wherever possible, within competitive parameters, we are exploring how best to accommodate U.S. requirements.”

He acknowledged that while final modalities are still being worked out, the discussions have progressed significantly, and Sri Lanka is grateful for the constructive engagement from the US side.

Dr. Suriyapperuma also emphasized that Sri Lanka’s approach goes beyond tariff reductions. The country is offering trade facilitation measures, which he described as a major pain point for both foreign and local exporters. He highlighted the implementation of a National Tariff Policy and the roadmap for a National Single Window system as key reforms aimed at improving efficiency and transparency.

“We’ve already begun implementing the national tariff policy,” he said. “These reforms will benefit not just U.S. exporters, but also Sri Lankan industries and entrepreneurs.”

The Treasury Secretary reiterated that Sri Lanka’s goal is to become “future-ready”, with a trade framework that supports innovation, competitiveness, and inclusive growth.