Former SL Ambassador Mahinda Samarasinghe Calls for Swift Completion of Sri Lanka-US Tariff Agreement
September 15, Colombo (LNW): Former Sri Lankan Ambassador to the United States Mahinda Samarasinghe has urged the Government to move quickly towards concluding a new trade agreement with Washington, warning that certainty over tariffs is essential for exporters and for attracting future investment.
Speaking as keynote speaker at the Sri Lanka Institute of Directors’ Annual Members Meeting at the Cinnamon Grand, Samarasinghe said the United States remained an exceptionally important market for Sri Lankan businesses, accounting for about a quarter of the country’s exports.
He said negotiations with Washington had already produced a significant improvement from the tariff initially proposed for Sri Lankan goods. Through what he described as constructive discussions and goodwill on the American side, the proposed rate had been brought down from 44 per cent, with the arrangements subsequently moving towards rates of 33 per cent and 10 per cent.
However, Samarasinghe stressed that the process was not yet complete.
According to the former envoy, roughly 90 per cent of the proposed agreement had been settled, leaving the two sides to resolve the remaining issues before the document can move through Sri Lanka’s domestic approval procedures and ultimately be signed and implemented.
He called on the Government to give priority to closing the outstanding gaps, arguing that a completed agreement would provide businesses with greater confidence when planning exports, production and investment.
Samarasinghe said securing a stable tariff arrangement would effectively give Sri Lankan exporters greater visibility over their access to the American market, rather than leaving companies exposed to uncertainty over future trade conditions.
He also pointed to the concessions expected from countries entering similar arrangements with the US. In many cases, he said, governments had agreed to provide either full or near-total duty-free access for American products in return for their respective trade arrangements.
The former ambassador said Sri Lanka would therefore need to balance its own economic interests with the commitments required to secure a lasting agreement.
He urged the Government to approach the remaining negotiations with a willingness to compromise where necessary and settle outstanding differences, saying the ultimate objective should be to establish a dependable framework for exporters and investors.
Samarasinghe also emphasised the longstanding relationship between Sri Lanka and the United States, describing Washington as a genuine and consistent friend of Sri Lanka over the years.
The meeting was chaired by SLID Chairman Dinesh Weerakkody, with Secretary to the Prime Minister G. Pradeep Saputhanthri attending as chief guest. Indonesian Ambassador to Sri Lanka and Dean of the Diplomatic Corps, Dewi Gustina Tobing, was the guest of honour.
The post Former SL Ambassador Mahinda Samarasinghe Calls for Swift Completion of Sri Lanka-US Tariff Agreement appeared first on LNW Lanka News Web.
