Business
Jaishankar to visit Sri Lanka, may discuss debt crisis
The Hindu:Indian External Affairs Minister S. Jaishankar will travel to Sri Lanka next week, sources told The Hindu. This will be his first trip to the country since President Ranil Wickremesinghe was sworn-in last July after street protests forced out the previous Rajapaksa regime.
Officials said that while a full review of bilateral ties is on the agenda, the visit comes amidst efforts by the Sri Lankan government to get “written financial assurances” from their closest and biggest creditors — India and China — on restructuring their debt. This is needed to make progress on their bailout plan being discussed with the International Monetary Fund (IMF).
Jaishankar’s two-day visit to Colombo, scheduled for January 19-20, will follow a visit by a ministerial delegation of the Communist Party of China (CPC). The visits, coming back-to-back, are crucial for Colombo to avail itself of the $2.9 billion IMF package under its Extended Fund Facility. The Sri Lankan government has said that it hopes to borrow more money once the IMF programme kicks in, to set its economy on a path to recovery following last year’s crushing meltdown. China, Japan, and India are Sri Lanka’s three largest bilateral creditors, and Colombo is counting on their cooperation for economic revival.
On Friday, the Chinese Embassy in Colombo announced that a “high-level delegation of the CPC led by the International Department Vice Minister Chen Zhou will visit Sri Lanka 14-18 January, the first official visit of the CPC to the island in the new year of 2023 and after its 20th National Congress.”
India has been involved closely in assisting Sri Lanka’s economic recovery programme after a near-debt default last year, and has been coordinating with other partners like the US and Japan, both on a bilateral level and at the Quad’s meetings, in order to find ways to help Sri Lanka overcome its financial crisis. However, strategic ties hit a block over the Sri Lankan government’s decision to allow a Chinese satellite tracking vessel into Hambantota port last August, a development that both India and the US formally protested against.
The External Affairs Minister was last in Colombo in March 2022, as India announced an unprecedented $4 billion assistance package to help Sri Lanka at the height of its crisis. He earlier met with the Sri Lankan Foreign Minister Ali Sabry on the sidelines of the ASEAN conference in Cambodia in August, assuring him of India’s commitment to be a “dependable friend and reliable partner” to Sri Lanka.
Jaishankar will also discuss trade and transit ties with Sri Lanka. New Delhi and Colombo are in talks to enhance ferry connectivity, following the restart of Chennai-Jaffna flights last month, for the first time after the COVID-19 pandemic. The Wickremesinghe government has committed to resuming negotiations on the stalled Economic and Technological Cooperation Agreement as well.
His visit comes even as Wickremesinghe is holding talks with Sri Lanka’s Tamil political leadership on a durable political solution. The Tamil parties have expressed concerns over the absence of any tangible action on their demands pertaining to land grabs in the North and East, the release of political prisoners and answers to families of disappeared persons. These are issues that the External Affairs Minister had raised last year, in talks with the then-Rajapaksa administration.
Business
Priority areas for deepening Japan-SL economic ties
Japan Business Council (SLJBC) of The Ceylon Chamber of Commerce recently held its 47th AGM, with the Ambassador of Japan and the Patron of the Council, Akio ISOMATA, attending as the Chief Guest.
Addressing the gathering, Ambassador ISOMATA outlined three priorities for deepening bilateral economic relations: an effective and forward-looking trade and investment policy, the promotion of domestic industrial policy, and expanded investment in renewable energy. He noted that Sri Lanka’s ongoing review of its Free Trade Agreement policy would be important in shaping the country’s future negotiating landscape. He encouraged Sri Lanka to look Eastward toward Southeast Asia and Japan, proposing that the country adopt an export-oriented industrial model. The Ambassador welcomed the Government’s National Export Development Plan 2026 and National Mineral Policy 2026 as consistent with Japan’s vision of connecting Sri Lanka’s export-related manufacturing sectors with India’s high-growth manufacturing base.
In his address, President Athulla R F Edirisinghe reflected on nearly seven decades of humanitarian and development support extended by Japan to Sri Lanka, and paid tribute to the Chairman of the Sasakawa Peace Foundation Yohei Sasakawa, for his magnanimity in establishing the Foundation. Reflecting on the history of Japanese investment in the region from the 1970s onward, he observed that Sri Lanka had missed many opportunities to attract Japanese foreign direct investment. Highlighting the 2025 proposal for a Sri Lanka – Japan Economic Corridor by the Ministry of Economy, Trade, and Industry Japan, he called on Sri Lankan businesses, industry associations, and the wider community to come together in dialogue with the Government to ensure the country does not miss this opportunity as well.
2026/27 Committee: President: Athulla R F Edirisinghe – Director, Hirohama Ceylon (Pvt) Ltd, Senior Vice President – Ruwan Waidyaratne – Managing Director, Hayleys Advantis Ltd, Vice – President – Shamil Mendis – Managing Director, Spear International (Pvt) Ltd, Treasurer – Rohitha Mendis – Managing Director of Prudential Shipping Lines (Pte) Ltd, Immediate Past President – Mahen Kariyawasan – Managing Director, Andrew The Travel Company (Pvt) Ltd, representatives from Amano Lanka Engineering (Pvt) Ltd, BOV Capital (Pvt) Ltd, Brandix Apparel (Pvt) Ltd, Heritage Teas (Pvt) Ltd, Kalhari Enterprises (Pvt) Ltd, Lanka Harness (Pvt) Ltd, Dentsu Grant (Pvt) Ltd, MAC Holdings (Pvt) Ltd, and Vidullanka PLC. By invitation: HVA Foods PLC (subsidiary of George Steuart & Co), Spillburg Holdings (Pvt) Ltd, and Vaughan Chemicals (Pvt) Ltd.
The Sri Lanka – Japan Business Council plays an important role in promoting trade, tourism, and investments between Japan and Sri Lanka. For membership inquiries contact Kiyara at The Ceylon Chamber of Commerce via E-mail: businesscouncils1@chamber.lk or Tel.: 011 5588875/ 5588800.
Business
Rekawa turns turtle conservation into a 30-year community business model
By Ifham Nizam
What started 30 years ago as an effort to protect sea turtles has evolved into a community-based economic model that has generated livelihoods, attracted tourists and transformed Rekawa into one of Sri Lanka’s best-known nature tourism destinations.
The Rekawa Turtle Conservation Project, launched on September 2, 1996, by the Turtle Conservation Project (TCP) in partnership with the Department of Wildlife Conservation and the Rekawa community, marked its 30th anniversary last week, demonstrating how biodiversity protection can become an economic opportunity for communities living alongside sensitive natural resources.
Speaking at the anniversary celebrations, TCP chairman Thushan Kapurusinghe said the project currently provides direct livelihoods for 28 people, but its economic impact extends considerably beyond those directly employed by the programme.
‘Today, 28 people directly earn their livelihood through this project. But its impact goes far beyond those 28 individuals, Kapurusinghe said.
He pointed to the transformation of the area over the past three decades, arguing that the growth of tourism in the community has been closely linked to the turtle conservation programme.
‘If you travel from Netolpitiya to this area, you can clearly see how much the village has transformed over the years. There is no doubt that the growth of tourism in this community has been driven by the Turtle Conservation Project, he said.
The economic significance of Rekawa lies in its ability to convert the protection of a natural asset into a source of recurring community income.
Tourists do not come to Rekawa merely to see a beach. They come to witness sea turtles emerging from the ocean and nesting in their natural habitat—a tourism experience that depends directly on the continued protection of the nesting beach.
Kapurusinghe said tour operators regularly bring visitors to Rekawa, with some tourists traveling there after visiting major attractions such as the Kandy Esala Perahera.
The model represents a fundamental shift from viewing conservation as an expense to recognising biodiversity as an economic asset that can generate sustainable livelihoods when properly managed.
The 30th anniversary celebration at the Rekawa Turtle Conservation Project Information Centre brought together Southern Wildlife Region Director of the Department of Wildlife Conservation Channa Suraweera, government officials, conservation organisations, community representatives and long-standing supporters of the initiative.
Individuals who had contributed to the project over the past three decades were also recognised with awards for their service to sea turtle and environmental conservation.
Rekawa’s experience has attracted international attention because of precisely this combination of conservation and community development. The project has received international recognition as well as the Green Employment Award from the Ministry of Environment and Natural Resources. Earlier international recognition included a highly commended ‘Tourism for Tomorrow’ award, while the project’s turtle-watch programme subsequently received further recognition in responsible tourism and conservation.
Business
Ceylinco Life brings premium policyholders closer to the magic of the Kandy Perahera
For an evening, the timeless spectacle of the Kandy Esala Perahera unfolded at especially close quarters for a select group of Ceylinco Life’s most valued policyholders and their families, who were hosted to an exclusive viewing experience by the Company’s Customer Relations Division.
Held at the Ceylinco Life Kandy Branch on Kings Street, the annual event coincided with the second Randoli Perahera, bringing guests into the heart of one of Sri Lanka’s most spectacular expressions of culture, tradition and pageantry.
As the procession made its majestic passage through the streets of Kandy, guests enjoyed VIP seating at a prime vantage point, allowing them to experience the colour, movement and grandeur of the Perahera up close. The evening offered a fitting setting for Ceylinco Life to celebrate its enduring relationships with its premium clientele.
The experience extended well beyond the spectacle outside. Guests were welcomed with evening refreshments and an exclusive dinner buffet presented by the prestigious Amaya Hills Resort, adding a fine-dining dimension to an already memorable evening.
Families, too, were at the centre of the occasion. A private movie theatre experience provided entertainment for children and adults alike, while each attending family received a beautifully framed family photograph as a personalised souvenir, a tangible reminder of an evening shared together against the backdrop of one of Sri Lanka’s most treasured cultural traditions.
Besides being a much sought-after opportunity to watch the Perahera, the occasion was an expression of appreciation. Through its continuing Customer Relationship Management activities, Ceylinco Life seeks to create experiences that recognise its most valued policyholders not simply as customers, but as relationships to be celebrated and nurtured. And on this particular August evening, the enduring splendour of the Kandy Perahera provided the perfect setting for doing just that.
-
News7 days agoDenied of promotion to SC despite vacancies, justice Gurusinghe retires
-
News7 days ago22A: SC urged to suspend hearing, appoint full bench
-
News5 days agoNamal remanded until Sept. 18 over Airbus deal investigation
-
Latest News4 days agoTharanga creates history with Diamond League crown in Brussels
-
News7 days agoGovt. seeks NATO assistance
-
Editorial7 days agoStrange arithmetic goes unchallenged
-
News4 days agoDispute which triggered listed company director being detained at BIA resolved
-
Features3 days agoAfter the parade: What a traffic OIC’s walk-out tells us
