Business
Sri Lankan industry represented at Asian Palm Oil Alliance launch for promoting sustainability
At the initiative of the global sustainable agriculture specialist Solidaridad Network, the apex edible oil industry associations from five major palm oil importing countries from Asia – India, Pakistan, Sri Lanka, Bangladesh and Nepal – have come together for the first time to form an Asian Palm Oil Alliance (APOA). The Alliance commits to work across the world to ensure that palm oil is recognised as a high-quality, economical, and healthy vegetable oil and to change the negative image of palm oil.
Speaking on occasion, Shri Atul Chaturvedi, President of the Solvent Extractors’ Association of India (SEAI) said, “The need for Asian palm oil consuming countries was felt for a long time. The formation of APOA empowers several Asian countries for whom palm oil is a source of affordable food and nutrition. The APOA is expected to safeguard the economic and business interests of the palm- oil consuming countries and create a level playing field for all fats and oils used in food, feed and oleochemicals in Asia. It will further work towards increasing the consumption of sustainable palm oil in member countries”.
Dr Shatadru Chattopadhayay, Managing Director of Solidaridad for Asia, said: “We are happy to be the neutral convenor of all significant Asian solvent extractors associations. In the coming years, we believe APOA will emerge as one of the most vital forums to address common problems, interests and aspirations of the global palm oil industry. In the decades to come, the rising wealth of Asia will further boost the regional demand for palm oil. We expect APOA would be soon joined by the palm oil producing countries from Indonesia, Malaysia and Thailand”.
Dr. Rohan Fernando, President, Palm Oil Industry Association of Sri Lanka said “The role of APOA is crucial in the facilitation of collective and coordinated efforts of both Asian palm oil- producer countries and Palm oil consuming countries for sustainable palm oil. It will strengthen Asia’s role in palm oil sustainability efforts. We are also pleased to have the opportunity to support this initiative and are grateful to both the Solvent Extractors Association India and Solidaridad for inviting the Palm Oil Industry Association of Sri Lanka to be a founder member of the APOA and look forward to achieve many milestones together; for the greater good of sustainable palm oil contributing towards economic sustainability and prosperity in Sri Lanka and the region.”
Oil palm is considered to be one of the most competitive vegetable oil crops in terms of productivity, yet this ‘wonder crop’ is often mired in brutal controversies that can hurt the communities associated with its production and commerce. The ban on palm oil production by the Sri Lankan government has resulted in exchange losses and opportunity cost amounting to millions of dollars to the economy. Sri Lanka annually imports 180,000 to 220,000 MT of vegetable oil. This can be met with 50,000 ha of oil palm compared to 271,000 ha of coconut. Oil palm yields 4 to 5 times oil per ha than coconut. Oil palm plantations have served Sri Lanka for over 54 years, starting around 1968 and generates the highest profits per ha compared to other commercial crops – which establishes oil palm as the most profitable crop for smallholders. In terms of wages for plantation workers the daily wages per month for workers: Oil palm worker at LKR30,000 – LKR50,000 which is significantly higher than that of tea estate workers and rubber tappers – making it a viable solution for poverty alleviation as well.
Business
Cost-effective clearance of goods across borders to determine worth of Customs Paperless Declaration
By Ifham Nizam
The introduction of the Customs Paperless Declaration from October 1 could mark an important step in Sri Lanka’s efforts to modernise trade, but its real value will depend on whether it reduces the time and cost of moving goods through the country’s borders, Customs House Agents & Traders Association President Mohamed Niyas said.
Niyas warned that digitising Customs declarations alone would not necessarily translate into faster cargo clearance or lower costs for businesses.
‘Expecting a dramatic improvement in clearance speed under the present conditions is like expecting Ferrari performance from a Morris Minor configuration, he said.
For importers and exporters, the issue extends well beyond paperwork. Every additional hour or day that cargo remains in the clearance chain can have wider consequences for businesses, including increased port and storage-related costs, additional working-capital requirements, uncertainty over delivery schedules and disruptions to production and distribution.
Niyas said the competitiveness of Sri Lanka’s trading sector ultimately depended on how efficiently goods could move through the country’s border-clearance system.
‘The real bottleneck is not merely the absence of paper. It is the entire clearance ecosystem—the limitations of the existing ASYCUDA World system, excessive regulatory interventions by Other
Government Agencies, multiple approvals, physical examinations, manual interventions, fragmented processes and institutional constraints, he said.
He cautioned that unless these bottlenecks were addressed, there was a risk that the paperless initiative would merely digitise existing bureaucracy.
‘If these underlying constraints remain unchanged, there is a real risk that the new paperless system could become another “copy-and-paste road show”—where an old, complex clearance process is simply transferred onto a digital screen without fundamentally changing the process itself, Niyas said.
For businesses dependent on imported raw materials, machinery, components and other inputs, clearance efficiency can directly affect the wider supply chain.
Delays at the border can create uncertainty for manufacturers, distributors and retailers, while exporters can face difficulties meeting delivery schedules when imported inputs or export consignments are held up.
Niyas therefore argued that the success of the October 1 initiative should be judged by its impact on trade flows rather than by the number of declarations processed electronically.
‘Paperless does not automatically mean faster, he said. ‘Digitising a slow process does not make the process fast. It only makes the slow process digital.’
He said Sri Lanka needed to move towards what he described as “process-less Customs”—a system in which unnecessary procedures are eliminated rather than simply converted into electronic procedures.
Among the reforms he called for are simplification of Customs declarations and approval workflows, improvements to the functionality of ASYCUDA World, greater use of risk-based inspections and better integration of Other Government Agency approvals.
Niyas also called for the elimination of repetitive document submissions and physical endorsements, greater use of pre-arrival processing, sufficient capacity for digital document uploads and clearly defined service-level timelines for Customs and OGAs.
Business
China backs Sri Lanka’s Non-aligned stance to counter regional pressures
By Sanath Nanayakkare
As global attention has fixed on the high-level diplomatic choreography at the United Nations General Assembly in New York, a subtler, yet profound geopolitical signal was sent from Colombo, yesterday.
In a major address marking the founding anniversary of the People’s Republic of China, newly appointed Chinese Ambassador Wei Huaxiang chose to anchor bilateral relations not just in modern trade or infrastructure, but in a shared respect for Sri Lanka’s legacy of non-aligned independence.
By explicitly invoking Sri Lanka’s foundational role in the 1976 Non-Aligned Summit, Beijing was doing something unexpected in an era defined by fierce great-power rivalry: it was officially validating a small island nation’s right to maintain an independent foreign policy stance.
The Strategic Value of Independence
For decades, nations caught in the crosshairs of major-power competition have faced intense pressure to pick sides. Yet, Ambassador Wei’s embrace of Colombo’s non-aligned tradition signaled a different diplomatic playbook. Instead of demanding alignment, Beijing was framing its partnership as a reliable counterbalance to regional pressures. By honouring Sri Lanka’s diplomatic autonomy, China was effectively reassuring smaller economies that sovereign independence and robust economic cooperation can coexist.
Beyond Ports and Industrial Zones
This diplomatic framing reframed the narrative surrounding major collaborative ventures like the Colombo Port City and Hambantota Port. While foreign analysts often view these projects exclusively through the lens of strategic rivalry, Beijing’s diplomatic messaging tied them back to a historical ethos of solidarity—evoking memories of the 1952 Rubber-Rice Pact.
By marrying economic projects with a stated respect for non-alignment, China is positioning itself as a steadfast stakeholder that respects Sri Lanka’s internal agency during difficult economic and political seasons.
As both nations look toward major milestones in 2027—including the 70th anniversary of diplomatic ties—this nuanced diplomatic move revealed how historic traditions are being leveraged to navigate modern multipolar realities.
For global observers, the takeaway was clear: in the shifting architecture of Asian geopolitics, respecting a nation’s historical neutrality may just be the most effective way to secure a lasting partnership, a diplomatic masterclass that Ambassador Wei Huaxiang executed in style.
Business
Sri Lanka Insurance Life appoints Dr. Sameera Dharmasena Chief Executive Officer
Sri Lanka Insurance Life (SLIC Life), the nation’s largest and strongest Life Insurer, is pleased to announce the appointment of Dr. Sameera Dharmasena as its new Chief Executive Officer, effective 22nd September 2026.
Dr. Dharmasena is a distinguished insurance professional with over 21 years of experience in the Sri Lankan insurance industry, having held senior leadership positions across several leading insurance companies affiliated with some of Sri Lanka’s largest business conglomerates. His extensive career spans both local and multinational insurance environments, bringing together broad industry expertise, strategic leadership and a strong commitment to the advancement of the insurance profession.
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