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Development deficit getting in the way of SL joining RCEP – Trade Ministry Secretary

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Principal panelists at Pathfinder Foundation forum.

Sri Lanka is not quite ready to join the Regional Comprehensive Economic Partnership (RCEP), since it is lacking sufficient development, Trade Ministry Secretary K.A. Vimalenthirarajah said.

‘At present the Trade Ministry is establishing Sri Lanka’s readiness to join RCEP, which consists of 15 countries, through several channels, Vimalenthirarajah said at a recent round table discussion titled, ‘Sri Lanka’s Pathway to RCEP and the Emerging Global Trading Order’, organized by the Pathfinder Foundation and held at the Colombo Club, Taj Samudra.

‘Sri Lanka is actively accelerating its compliance efforts to join the 15-nation RCEP having submitted its required accession questionnaire in early 2026, he explained.

Vimalenthirarajah added: ‘The Cabinet has established a high-level policy and working committee and also obtained some technical assistance from multilateral partners because complying with RCEP requirements is challenging. Subsequently, this body responded to the follow-up questions that came up and had discussions with RCEP representatives and it expects more follow-up questions with regard to Sri Lanka’s readiness to join RCEP.

‘Sri Lanka has also secured political and diplomatic support from current RCEP members, including Australia, New Zealand, and Indonesia, to facilitate its entry process.’

Meanwhile, state officials, including Industries and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe, are implementing key economic structural reforms, a new tariff policy, and transparent investment criteria required by the bloc. Because formal accession protocols for RCEP are still being finalized, Sri Lanka is also simultaneously negotiating bilateral trade and investment agreements with regional members to accelerate integration.

Abeysinghe, participating virtually in the event said that Sri Lanka cannot achieve sustained export growth and attract large-scale investment by relying solely on its domestic market. ‘As a small economy, the country’s future lies in deeper integration with regional and global value chains. RCEP connects 15 economies, including Japan, South Korea, Australia, New Zealand, China and ASEAN member states, collectively accounting for nearly 30% of global trade, he explained.

Abeysinghe added: ‘Access to such a market would create new opportunities for Sri Lankan businesses, particularly the country’s Small and Medium Enterprises (SMEs), which currently contribute only around 10 percent to national exports.

‘However, Sri Lanka is at least a decade behind in implementing many of the reforms required to fully participate in modern global trade. Recognizing this challenge, the government is now moving forward with several critical reforms: A new tariff policy to improve competitiveness and eliminate barriers to trade, transparent and predictable investment criteria, investment facilitation reforms to improve the ease of doing business, new legislation including the Public-Private Partnership (PPP) Act and SOE reforms to strengthen investor confidence and measures to improve investment protection and unlock new sources of capital, including venture capital and angel investment funds.

‘Sri Lanka’s exports currently stand at approximately US$ 17 billion and have grown only gradually over the years. Expanding market access through bilateral and multilateral agreements, while continuing domestic reforms, is essential if the country is to achieve its long-term economic ambitions.’

By Hiran H Senewiratne



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Sri Lanka’s first generative AI‑powered, trilingual insurance assistant

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Sri Lanka Insurance Corporation General Limited (SLICGL) unveiled Beechat, the country’s first generative AI‑powered insurance assistant, heralding a milestone for Sri Lanka’s insurance industry and move towards digital services.

Beechat is designed to transform the customer experience. Available through the SLICGL website (https://www.slicgeneral.com/) and customer portal, the Assistant offers customers instant access to policy information, real-time claim status updates, and insurance-related help 24 hours a day, seven days a week.

For customers, Beechat makes insurance simpler and always available. Instead of waiting in queues, calling hotlines, or being limited to business hours, customers can check policies, track claims, and receive instant answers in Sinhala, Tamil, or English, empowering every customer, whatever their language, to manage their insurance with ease.

The inclusivity ensures every customer, regardless of language preference, can engage with insurance services seamlessly. The AI‑driven platform reduces complexity, eliminates delays, and builds trust. Ultimately, Beechat transforms insurance from a process often seen as slow and complicated into a smooth digital journey that fits modern lifestyles.

The launch of SLICGL Beechat is strategically important for the organization because it strengthens its position as a leader in innovation within Sri Lanka’s insurance industry. Introducing the country’s first generative AI‑powered, trilingual insurance assistant, SLICGL demonstrates a commitment to digital transformation and technology‑driven service excellence.

The initiative reaffirms the company as forward‑thinking and customer‑centric and differentiating from competitors who still rely on traditional service models. It signals to industry stakeholders that SLICGL is setting new standards for accessibility, efficiency, and convenience in insurance.

Pioneering AI‑driven customer engagement, the company sets a new benchmark. Beechat demonstrates how technology can elevate insurance from a traditional service into a dynamic, futuristic experience, strengthening SLICGL’s relationship with the people it services. (SLICGL)

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‘Lanka Tractors returns with a historic Colombo 11 showroom’

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Lanka Tractors Limited officially reopened its original showroom in Colombo 11, marking the return of one of Sri Lanka’s most recognised agricultural machinery companies and the official launch of the ACE Tractor brand in the country.

Located at 343 Olcott Mawatha, Colombo 11, the showroom was ceremonially declared open by Chief Guest Dudley Sirisena, Chairman of the Araliya Group of Companies, in the presence of Upul Jayasuriya, Chairman of Lanka Tractors Limited, Thilina Abeysuriya, Managing Director, Nishantha Yapa, Head of Business, and Rajiv Gunawardena, CEO of Asia Asset Finance PLC.

Originally established in 1971 as the State Trading (Tractor) Corporation, Lanka Tractors was restructured in 1991 and became one of Sri Lanka’s largest importers and distributors of agricultural machinery. Over the decades, the company represented internationally renowned brands including Massey Ferguson, Kubota and TAFE, earning the trust of generations of Sri Lankan farmers through quality products, technical expertise and dependable after-sales support. The reopening of its original Colombo 11 showroom, first established in 1982, marks the revival of an institution that has played a pivotal role in the mechanisation of Sri Lankan agriculture for more than five decades.

The company’s revival commenced in late 2025 through an exclusive partnership with ACE Tractors, the agricultural division of Action Construction Equipment (ACE) Limited, one of India’s leading engineering and manufacturing companies. ACE manufactures tractors, agricultural machinery, construction equipment and industrial equipment, with annual production capacity exceeding 9,000 tractors, exports to more than 37 countries, and a dealer and service network spanning over 100 locations worldwide.

Prior to the commercial launch, Lanka Tractors adopted an extensive validation programme to ensure the products were ideally suited to Sri Lankan farming conditions. Three introductory models—the ACE VEER 3000 (26 HP 4WD), ACE DI 350 NG (40 HP 2WD) and ACE DI 450 NG (45 HP 4WD)—underwent rigorous field testing across multiple agricultural regions under the supervision of ACE technical specialists. Following several product refinements based on local operating conditions, the tractors were introduced to the market in April 2026.

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Akurugraphy exhibition opens at Geoffrey Bawa Space in Colombo

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The desire to communicate and be understood is at the heart of what it is to be human. In contemporary life, digital infrastructure underpins how we work, live, and share information, but the letterforms that carry our languages are rarely neutral.

Arkurugraphy, a new exhibition at the Geoffrey Bawa Space, explores the history, culture, and future of letterforms across Sri Lanka’s three official languages. Presenting the decade-long practice of Colombo-based type foundry Mooniak, it examines how decisions about the digitisation of Sinhala, Tamil, and Latin scripts impact legibility and carry deep consequences for who is seen, who is heard, and whose language endures.

Writing systems carry human thought and knowledge across time and space. Letterforms can become a form of cultural artefact, unique graphic symbols representing identity and belonging. Today, these inherited letterforms often take shape as digital fonts, their design demanding fluency across history, aesthetics, linguistics, and technical standards. Akurugraphy asks audiences to look at letterforms beyond the act of reading: to appreciate their form, trace their past, and consider the decisions that impact their future.

Akurugraphy brings together typographic specimens, archival material, and software development spanning Mooniak’s full body of practice. It is a celebration of letterforms as art and an examination of the technical and political stakes of designing scripts for the digital age. As part of the exhibition, the Geoffrey Bawa Space will host a programme of monthly talks, curatorial tours, workshops, and children’s programmes.

Akurugraphy is open Wednesday through Sunday, 10:30 a.m. – 5:30 p.m., and will be on view until 8 November 2026. The exhibition is designed to be accessible and welcoming to all visitors. The Geoffrey Bawa Space offers step-free access and wheelchair accessible facilities. Tactile elements are available throughout the exhibition. More information is available at geoffreybawa.com/akurugraphy .

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