Connect with us

News

Sri Lanka–Thailand Free Trade Agreement at last sees the light of day

Published

on

Thai Ambassador Paitoon Mahapannaporn addressing the event

The Sri Lanka–Thailand Free Trade Agreement (SLTFTA), signed in 2024 and awaiting implementation, will serve as a key catalyst for strengthening trade, investment and supply-chain resilience between the two countries amid growing global economic uncertainties, Thailand’s Ambassador to Sri Lanka, Paitoon Mahapannaporn, said.

Addressing the Thailand–Sri Lanka Business Forum: Trade, Investment and Beyond in Colombo on June 18, Ambassador Mahapannaporn noted that bilateral trade had reached USD 649 million in 2025, marking a 48 per cent increase over the previous year.

He said stronger partnerships and diversified supply chains had become increasingly important in the face of geopolitical crises affecting global business and investor confidence. The SLTFTA would help boost bilateral trade, reduce tariffs, open new markets and improve access to global supply chains for both countries, he added.

The forum was organised by the Royal Thai Embassy in collaboration with the Sri Lanka–Thailand Business Council and the Sri Lanka–Greater Mekong Business Council and brought together senior government officials, diplomats, business leaders and industry experts from both nations.

President of the Sri Lanka–Thailand Business Council, Rizan Nazeer, highlighted the importance of building resilient cross-border partnerships by combining Thailand’s advanced infrastructure, capital strength and industrial expertise with Sri Lanka’s skilled and cost-effective workforce.

President of the Sri Lanka–Greater Mekong Business Council, Nimal Ratnayake, said the forum was not merely about trade opportunities but also about fostering trust, knowledge-sharing and long-term partnerships that would contribute to sustainable growth in both countries.

Delivering a presentation on trade and FTA opportunities, Secretary to the Ministry of Trade, Commerce, Food Security and Co-operative Development, K. A. Vimalenthirarajah, stressed the need for predictable and effective implementation of the agreement. He said sectors such as logistics, packaging, research and development, food processing, information technology, minerals and technology-driven investments stood to benefit significantly.

Senior Deputy Director of Customs, Compliance and Facilitation Directorate of Sri Lanka Customs, Chamila Prasantha Bopage, outlined customs procedures and regulatory requirements, emphasising the importance of balancing trade facilitation with regulatory oversight.

Providing a Thai business perspective, Dr. Visit Limlurcha, President of the Thai Future Food Trade Association and Vice Chairman of the Thai Chamber of Commerce and Board of Trade of Thailand, described Sri Lanka as a strategic gateway to South Asia and the Middle East. He identified food and agriculture, healthcare, IT, electronics, machinery, construction, tourism, logistics and textiles among sectors with strong potential for bilateral collaboration.

Meanwhile, Deputy Dean of the Graduate School of the University of the Thai Chamber of Commerce, Dr. Phusit Wonglorsaichon said competitiveness in the modern economy depended on digital platforms, effective use of FTAs, research and development, technology adoption and innovation.

Director General of the Board of Investment, Renuka Weerakone, presented Sri Lanka as an increasingly attractive destination for foreign direct investment, noting that 15 pioneering Thai investors were already operating in the country. She highlighted Sri Lanka’s strategic location, expanding logistics infrastructure and investor-friendly policies, including provisions allowing 100 per cent foreign ownership in most sectors.

The forum concluded with a business-matching session involving 27 delegates from 17 Thai companies and more than 100 Sri Lankan counterparts, who explored opportunities for collaboration across food and agriculture, health and personal care, IT and construction, hospitality and logistics, and textiles and household products. Officials said the engagements reflected the growing momentum towards deeper economic integration between Sri Lanka and Thailand under the proposed FTA framework.



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Former IGP’s death likely due to an accidental weapon discharge

Published

on

Wickramaratne

He was examining security officer’s new weapon while waiting for his wife to join him on a morning walk

Friday’s shock death of former IGP Chandana Wickramaratne due to gunshot injuries on his chest was possibly due to an accidental discharge of his personal security officer’s (PSO’s) pistol. Wickramaratne, who was kitted for his walk and waiting on the verandah for his wife to join him, was examining the PSO’s new weapon, knowledgeable sources said.

These sources said the wife who was putting on her shoes inside the house heard a bang and found Wickramaratne fallen on the verandah.

The retired IGP had noticed the security officer carrying a new weapon and had asked to examine it. Saying he carried a similar weapon years ago, he found no magazine and said, “are you planning to accompany me on my walk with a pistol without a magazine?”

The PSO had then handed the loaded magazine and gone into the house to fetch a requested bottle of water when the weapon had gone off.

The sources said that Wickramaratne was in no way depressed and had attended an Ananda College old boy’s event a few days ago, had dinner with friends and chatted with them. He had an appointment to meet a friend on Saturday.

Friends and family saw no reason for Wickramaratne to take his own life and there was no evidence whatever of an external agent shooting him. The former IGP was pronounced dead at the Colombo East Teaching Hospital to which he was rushed.

Police said investigations were proceeding and an autopsy report was awaited.

Wickramaratne was appointed the 35th Inspector General on November 25, 2020 and retired  three years later in 2023. He had also set a record as the longest serving acting IGP since his naming to that position in May 2019 after his predecessor Pujith Jayasundara was sent on compulsory leave.

He joined as a trainee Assistant Superintendent  in June 1986 after graduating from the Colombo University. He was absorbed to the National Intelligence Bureau where he worked till 1995. Thereafter he reverted to the uniform service and had been posted across the country, including the northern and eastern areas at the height of the war.

Continue Reading

News

Rosy Senanayake appears before CMC corruption probe commission

Published

on

This image, taken from Derana TV footage, shows former Colombo Mayor Rosy Senanayake arriving at the Presidential Commission of Inquiry on Friday

Former Colombo Mayor Rosy Senanayake appeared before the Presidential Commission of Inquiry appointed to investigate allegations of corruption and fraud at the Colombo Municipal Council (CMC) on Friday (17).

Speaking to the media after appearing before the commission, Senanayake said she had been summoned to provide information regarding a food voucher programme implemented during her tenure as Mayor amid the COVID-19 pandemic and the economic crisis.

She said the programme, carried out through state-owned Lanka Sathosa, was introduced to provide assistance to low-income and vulnerable families affected by the economic hardships during the period.

“We gave food vouchers from Sathosa to the poor during the pandemic and economic crisis.

They wanted answers to some questions they had regarding the programme,” Senanayake said.The Presidential Commission is currently investigating allegations relating to financial irregularities, corruption and other misconduct within the Colombo Municipal Council.

Continue Reading

News

Cop suspended after sitting on female cop’s lap

Published

on

A police constable has been suspended from service following an inquiry into allegations that he sat on the lap of a female police constable while under the influence of alcohol at the Makalugaswewa Police Station.

Police said the constable had reported for duty at a musical concert held at the Dambulla Gam Udawa Stadium on July 15 and later returned to the police station to resume duties.

According to initial reports, the constable allegedly sat on the female officer’s lap after seeing her seated on a chair at the station.

The female police constable subsequently lodged a complaint with the Assistant Superintendent of Police (ASP) in charge of the area through the Officer-in-Charge (OIC) of the police station.

A preliminary investigation into the incident found that the constable had allegedly been under the influence of alcohol at the time of the incident.

Following the inquiry into the alleged harassment of the female officer and the constable’s conduct while on duty, police authorities took steps to suspend his service pending further action.

by Norman Palihawadane ✍️

Continue Reading

Trending