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Lanka, South Korea explore boost to bilateral trade

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The Sri Lanka–Korea Business Council of the Ceylon Chamber of Commerce recently hosted an awareness session titled “Doing Business with South Korea”, bringing together key stakeholders to explore opportunities for strengthening bilateral trade and investment relations between Sri Lanka and the Republic of Korea.

The event was graced by Miyon Lee, Ambassador of the Republic of Korea to Sri Lanka, along with officials from the Embassy including Eunji Kang, Deputy Head of Mission and Minwoo Jo, Research Officer.

The session provided an overview of bilateral trade and investment relations, while highlighting potential export opportunities to South Korea by identifying high-potential sectors for Sri Lankan exporters. It also explored emerging trends and future prospects for Sri Lankan products, along with the effective utilization of the Asia-Pacific Trade Agreement (APTA). In addition, guidelines on eligibility and compliance under APTA were outlined, offering practical insights for businesses seeking to enter and expand in the Korean market.

In her address, Ambassador Miyon Lee acknowledged the Sri Lanka–Korea Business Council as a long-standing partner of Korean companies and commended the resilience of the Sri Lankan people in the face of recent challenges. She highlighted progress made by Sri Lanka in economic stabilization, institutional reforms and anti-corruption efforts, describing these developments as encouraging for investors.

The Ambassador emphasized the importance of enhancing an investment-friendly environment, supporting ongoing Korean business projects, and identifying promising areas for future cooperation.

She further underscored the significance of streamlining Sri Lanka’s tariff structure and expanding Free Trade Agreements with major trading partners. Referring to Sri Lanka’s comprehensive national tariff policy, she noted that such reforms would help reduce protectionism, enhance competitiveness, and integrate the country into global value chains. She also expressed hope for the timely implementation of the National Single Window system and full compliance with commitments under the World Trade Organization Trade Facilitation Agreement and intellectual property obligations under World Intellectual Property Organization.

The Ambassador also highlighted Sri Lanka’s interest in joining the Regional Comprehensive Economic Partnership (RCEP), noting that participation would provide access to a broader Asian market while emphasizing the need for strong bilateral engagement with individual member countries.

She encouraged businesses to fully utilize existing agreements such as APTA and other preferential arrangements, stressing that Free Trade Agreements are not only about market access but also about strengthening domestic industries and improving competitiveness.

Addressing the gathering, Shamil Mendis, President of the Sri Lanka–Korea Business Council, highlighted the importance of Sri Lankan businesses focusing on the East Asian market.

He reaffirmed the Council’s commitment to fostering stronger trade, investment, and business ties between Sri Lanka and South Korea, noting that the Council will continue to serve as a platform for dialogue, knowledge-sharing, and mutual growth.  The session concluded with interactive discussions, reflecting strong interest from the business community in expanding trade and investment linkages with South Korea.



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No PC polls this year, says Tilvin

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Tilvin

The much-delayed Provincial Council (PC) elections cannot be held this year due to financial and legal constraints, JVP General Secretary Tilvin Silva has said in Jaffna.Silva said so, fielding questions from journalists after the opening of the NPP coordination office in the Jaffna District on Saturday.

When asked whether the government was under Indian pressure to conduct the Provincial Council elections soon, Silva answered in the negative, claiming that Sri Lankan and Indian governments maintained close and friendly relations with a strong level of understanding.

He said budgetary allocations had been made for the PC elections, but the government had been compelled to divert resources for disaster relief following the impact of Cyclone Ditwah. According to Silva, nearly Rs. 500 billion had to be allocated for relief measures, making it difficult to hold the elections this year. He further said legal complications in the electoral reform process had also contributed to the delay in holding the PC elections, noting that a parliamentary committee had been appointed to determine the electoral systems under which the PC polls should be conducted. Once the committee submitted its report and if no further issues arose, the elections could possibly be held next year, he said.

Silva also said the government had taken measures to strengthen reconciliation and development in the North by releasing lands previously occupied by military camps and improving road infrastructure.He added that empowerment initiatives were being implemented under the Praja Shakthi programme and that both Sri Lanka and India were continuing to work in close cooperation.

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Weather conditions worsen, displacing 31,000 people

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More than 31,000 people across Sri Lanka have been affected by worsening weather conditions, as the southwest monsoon intensifies ahead of its full establishment, raising fears of renewed flooding in vulnerable low-lying areas, the Disaster Management Centre (DMC) has warned.

The DMC has said 31,072 individuals from 7,983 families have already been impacted by persistent rain, strong winds and rising water levels across multiple districts, with the situation most severe in the Gampaha District where 15,313 people from 3,950 families have been affected and one death reported.

Officials have cautioned that the scale of disruption could worsen as the southwest monsoon is expected to fully establish over the island around May 26–27, bringing heavier and more sustained rainfall to the southwestern region.

At present, 18 safety centres are in operation, sheltering 1,724 displaced persons from 446 families. One person has been injured and 859 houses have been partially damaged. Two houses have been destroyed.

The Department of Meteorology has forecast increased rainfall over the coming days, warning that conditions are likely to deteriorate further as monsoon activity strengthens.

Flood-hit areas remain widespread, with river systems still under pressure despite a brief easing in rainfall on Saturday. The Kelani River has returned to normal levels, but minor flooding persists along the Kalu River basin, particularly in the Millakanda area, where tributary water levels remain elevated.

Low-lying areas in Bellapitiya, Horana, continue to be inundated, while traffic on the Bulathsinhala–Kalutara road remains disrupted due to flooding in Diyakaduwa. Authorities have also flagged continued risk in Putupawula and Ellagawa along the Kalu River.

The Attanagalu Oya basin is also slowly receding, though residents in Dunamale have been urged to remain on alert. Several homes in Ja-Ela remain underwater, with residents alleging that delayed repairs to a damaged canal embankment worsened the flooding.

In a fresh blow to infrastructure, the Swarna Hansa Podi Ela bridge in Ja-Ela collapsed on Saturday evening, further disrupting local transport links, while the main Ja-Ela–Gampaha bus route remains submerged in parts of Yakkaduwa.

Meteorologists have warned that rainfall is expected to intensify again from May 26 to 28, when the southwest monsoon is likely to be formally declared over Sri Lanka, raising the risk of further flooding and landslides in already saturated areas.

by Norman Palihawadane and Chaminda Silva

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Dickoya double murder suspect arrested

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Police said a suspect wanted in connection with the murder of an elderly couple inside a shop in Dickoya town, Hatton, had been arrested on Saturday evening (23).

The arrest was made in the Bogawantalawa police area. Acting on a tip-off, the police arrested him while he was hiding in a house on a tea estate.

Police said stolen gold jewellery had been recovered.

Preliminary investigations revealed that the suspect, originally from Badulla, had been residing in Dickoya after his marriage.

Earlier on Saturday, Hatton Police released CCTV footage of the suspect and sought public assistance to trace and arrest him.

According to police, the suspect allegedly slit the throat of the elderly woman and killed her husband using a sharp weapon on Thursday (21) before fleeing with gold jewellery valued at around 18 sovereigns, including a necklace and earrings.

Investigations further revealed that the suspect had arrived in Dickoya town on the morning of May 21 and visited several jewellery shops claiming he intended to purchase a gold necklace, while loitering in the area.

Police said that around 1.15 pm, he entered the couple’s shop and remained concealed inside the premises before allegedly carrying out the attack.

Hatton Police added that the suspect is believed to have committed the murders and left the shop around 5.30 pm the same day before going into hiding.

by Norman Palihawadane

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