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Bogollagama advocates SL’s economic potential at Commonwealth trade summit

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by Sujeeva Nivunhella reporting from London

High Commissioner Rohitha Bogollagama last week pushed Sri Lanka’s economic and investment potential at the third Commonwealth Trade and Investment Summit (CTIS), held in London on November 27-28.

Organized by the Commonwealth Enterprise and Investment Council (CWEIC), the event was attended by distinguished Commonwealth figures, including the head of state of Samoa, Ministers of Trade and Industry from Ghana and Nigeria, High Commissioners, senior officials, business leaders, and technocrats from across the Commonwealth.

The two-day summit featured a series of sessions, meetings, round table discussions, and networking opportunities among delegates, emphasizing the importance of fostering trade and investment collaboration within the Commonwealth.

Addressing strategic Commonwealth partners during the Global Advisory Council meeting, Bogollagama delivered an overview of Sri Lanka’s economic landscape, highlighting the nation’s resilience in overcoming challenges in the context of both international relations and domestic pressures.

He underscored Sri Lanka’s strategic geopolitical positioning as a pivotal hub bridging the East, Far East, Middle East, and the West. Moreover, with access to a substantial market of nearly two billion in South Asia, Sri Lanka stands poised to leverage its advantages with the right infrastructure, a robust legal system, independent judiciary, adherence to the rule of law, English language education, skilled workforce, well-developed transportation networks, and flourishing tourism sector to attract diverse investments, particularly in technology and innovation, he said.

Emphasizing Sri Lanka’s commitment to the Commonwealth and its investment promotion arm

Bogollagama affirmed Sri Lanka’s dedication to steering the country toward greater success in attracting international investment and expressed gratitude to Lord Marland, Chairman of CWEIC, for facilitating Sri Lanka’s participation in the event enabling deeper connections within the CWEIC network.

He extended an invitation to potential investors worldwide to look at possibilities, urging them to consider Sri Lanka as a ‘plug-and-play’ investment and commercial destination on an upward trajectory.

The CTIS, a platform hosting over 550 international delegates from 56 Commonwealth member nations, served as a pivotal Business-to-Government Summit. It provided a platform to deliberate and strategize on critical Commonwealth investment and trade-related issues in the run up to the forthcoming CHOGM (Commonwealth Heads of Governement Meeting) and the Commonwealth Business Forum scheduled to be held in Samoa in October 2024.



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Heat index at ‘Caution level’ in Northern, North-central, Eastern, North-western, Western provinces and Monaragala district today [09]

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The Natural Hazards Early Warning Centre  of the Department of Meteorology has issued a Warm Weather Advisory for 09 April 2025

The public are warned that the Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in Northern, North-central, Eastern, North-western, and Western provinces and in Monaragala district.

The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.

Effect of the heat index on human body is mentioned below is prepared on the advice of the Ministry of Health and Indigenous Medical Services.

ACTION REQUIRED

Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated. Dress: Wear lightweight and white or light-colored clothing.

Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.

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Sajith asks govt. to submit its MoUs with India to Parliament

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Prof. Jayasumana raises possibility of Lanka ending up with “Quad’

Opposition and SJB Leader Sajith Premadasa has said it is the responsibility of the NPP government to submit the MoUs/agreements that were recently signed with India to the respective Sectoral Oversight Committees (SOCs).

Premadasa said so when The Island raised the issue with him. He said that during his meeting with Premier Modi his focus had been on opening the Indian market for Sri Lankan garment exports.

The seven MoUs/agreements signed on 05 April included defence cooperation, energy, Eastern Province development and digitalisation.

Meanwhile, the Vice President of Sarvajana Balaya and former lawmaker Prof. Channa Jayasumana said that the government owed an explanation whether the recently signed MoU on defence cooperation directly or indirectly attached Sri Lanka to the Quad security alliance, consisting of the US, Australia, Japan and India.

The former SLPPer raised the issue at a meeting held at Boralesgamuwa on Monday (07) in support of Sarvajana Balaya candidates contesting the May 6 LG polls.

Prof. Jayasumana urged that the MoU on Defence Cooperation be placed before Parliament, and the people, without further delay. The academic who served as State Health Minister during President Gotabaya Rajapaksa’s tenure said that President Anura Kumara Dissanayake’s foreign policy direction should be dealt with.

By Shamindra Ferdinando

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Govt. won’t extend suspension of ‘parate executions’

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The government would not extend the suspension of ‘parate executions’ that was now effective, Deputy Minister of Finance Harshana Suriyapperuma told Parliament yesterday.

Suriyapperuma said so in response to a question raised by Opposition Leader Sajith Premadasa, who asked about the government’s plans regarding a relief package to assist small and medium-scale enterprises (SMEs) struggling to repay loans.

Pointing out that about 263,000 SMEs had closed down, Premadasa asked what action the government would take to address the grievances of these SMEs.

He said that from 01 Jan., 2019, to 01 Dec., 31, 2023, licensed banks had collected Rs. 113.7 billion through 2,263 parate executions. As of 31 Dec., 2024, Rs. 1,380 billion had been recovered from Stage III defaulters.

The government has introduced loan schemes to assist SMEs impacted by the economic crisis. They included capital loans of up to Rs. 10 million, with a six-month grace period and a three-year repayment term at 8% interest, Suriyapperuma said. Additionally, another loan scheme under the consolidated fund aimed to help SMEs that werecurrently paying their loans. That scheme offered loans of up to Rs. 15 million, which must be repaid over ten years with a one-year grace period and a 7% interest rate. For SMEs that had defaulted on their loans, a loan of up to Rs. 5 million is available at 8% interest, with a six-month grace period and a five-year repayment term, Suriyapperuma said.

By Saman Indrajith

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