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Tackling the urgent challenge of parallel imports for accelerated economic and industrial recovery

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Thushara Rathnaweera

By Thushara Rathnaweera, Head of Mobile Experience at Samsung Electronics (Sri Lanka)

In the intricate web of today’s global economy, a burning issue demands our immediate attention, which is the challenge of parallel imports, often referred to as ‘grey goods.’ As the Head of Mobile Experience at Samsung Sri Lanka, I consider it my duty to delve into the intricate ramifications of parallel imports and propose strategic measures imperative for fortifying our nation’s economic resilience. The implications of parallel imports extend beyond mere surface observations, compelling us to explore their deeper repercussions. But first – what exactly is considered ‘Parallel Imports’?

Parallel imports, known as ‘grey goods,’ involve branded products entering markets without brand owners’ authorization and these genuine items lack consent for specific market distribution. Often sourced from countries with lower prices or different packaging, products are re-imported into other markets. This arises due to price disparities, regional market variations, and import taxes. Parallel imports offer reduced prices, attracting cost-conscious consumers.

The gravity of these parallel imports lies in their direct threat to Sri Lanka’s economic stability. These unauthorized imports divert substantial revenue away from legitimate channels and contribute to significant tax losses. For instance, Samsung incurred around LKR 330 million losses from 2020 to 2023 due to such imports, in stark contrast to the legitimate tax contribution of LKR 3,802,408,685. Authorized competitors contributed LKR 5,081,089,154 in taxes, highlighting the disparity between legitimate channels and parallel imports. Notably, parallel imports also led to job losses—2500 direct and 500 indirect—which impacts families and the industry.

Moreover, while parallel imports might offer seemingly alluring products at lower prices, this apparent affordability conceals a more sinister cost. The proliferation of these unauthorized products erodes consumer trust in authentic brands, discouraging investments in research and development. As consumers are enticed by these seemingly budget-friendly alternatives, the potential implications for authorized businesses loom large.

Furthermore, the challenge of parallel imports is not limited to economics alone; it has the power to induce a shift in consumer behavior. This shift can lead consumers away from legitimate distribution channels, inadvertently fostering a preference for cheaper alternatives. Such behavioral shifts disrupt market equilibrium and pose significant challenges to established businesses. These shifts have the potential to send ripples through the economy, leading to far-reaching consequences.

Addressing the multifaceted challenges posed by parallel imports requires a united effort spanning all sectors of our society. Strategically navigating the challenge of parallel imports necessitates collaborative efforts from all corners. To counteract the influence of parallel imports, we must establish and enforce robust Intellectual Property Rights (IPR) frameworks. These frameworks should comprehensively protect brand owners and their trademarks. This entails implementing stringent legal measures and penalties to deter involvement in parallel imports and trademark infringement.

Additionally, the power of knowledge is pivotal in combating parallel imports. Public awareness campaigns can illuminate the importance of supporting authorized distribution channels while shedding light on the potential repercussions of purchasing unauthorized goods. Furthermore, fostering productive dialogues with governmental bodies can amplify the understanding of the far-reaching consequences of parallel imports. By articulating the negative impact on our economy and society, these conversations can pave the way for stringent regulations and robust enforcement mechanisms.

We strongly advise customers, not just Samsung’s but of all brands’, to exercise caution when dealing with unauthorized sellers offering below-standard warranties, such as 6 to 3 months or shop warranties. Samsung Sri Lanka for example emphasizes authenticity and quality by exclusively partnering with authorized dealers. This strategic collaboration ensures strict adherence to Samsung’s rigorous standards, delivering peace of mind to our customers. When you purchase from our authorized dealers, you enjoy the exclusive benefits of a one-year comprehensive warranty. This warranty underscores our commitment to product excellence and serves as a testament to our confidence in the durability and performance of our devices.

Opting for Samsung’s official channels guarantees that you receive the full benefits and protection that come with a genuine Samsung device. Furthermore, at Samsung Sri Lanka, we exclusively offer TRCSL-approved products. TRCSL (Telecommunications Regulatory Commission of Sri Lanka) certification signifies adherence to local regulations and standards, ensuring quality and compliance. We encourage all our customers to verify the TRCSL certification status of their devices before making a purchase, which can be conveniently done by sending an SMS to 1909 with the message “IMEI (Space) IMEI Number.” On a broader level, these are some steps we take to ensure maximum safety and satisfaction for our customers.

Championing Sri Lanka’s economic prosperity amidst the challenge of parallel imports is a shared responsibility. The urgency of addressing this issue surpasses economic concerns; it embodies our commitment to innovation, consumer confidence, and sustainable growth. As a leader in Samsung Sri Lanka, I am steadfast in guiding our nation towards an economy characterized by resilience and strength. By harnessing strategic collaboration and unwavering determination, we can navigate the intricate landscape of parallel imports and forge an economic environment that enriches the lives of all Sri Lankans.



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Historic launch of CCWE Fashion Week & International Summit 2026

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Ayanthi Gurusinghe, President, Ceylon Chamber of Women Entrepreneurs (CCWE), joined by Damith Pallewatte, MD/CEO, HNB, and Sanjay Wijemanne, Senior Executive Vice President/COO, HNB, at the press conference announcing CCWE Fashion Week, powered by HNB, held at HNB Towers.

The Ceylon Chamber of Women Entrepreneurs (CCWE) officially announced the CCWE Fashion Week & International Summit 2026 at a press conference held in Colombo, unveiling a historic national initiative that will mark the first-ever fashion week in Sri Lanka and the South Asian region dedicated exclusively to women entrepreneurs.

Held under the theme “Threads of Inclusion Woven from Every Walk of Life,” the event is scheduled to take place from 16th to 20th July 2026 at Cinnamon Life, Colombo, positioning Sri Lanka at the forefront of inclusive and sustainable fashion while creating a powerful platform for economic and social transformation.

This landmark initiative goes beyond fashion to deliver meaningful value to society by empowering women entrepreneurs across diverse communities, industries, and regions. By bringing together designers, artisans, SMEs, policymakers, investors, and international stakeholders, the event aims to create new market opportunities, strengthen financial inclusion, and promote sustainable livelihoods. It will serve as a catalyst for economic growth by supporting women-led businesses, enhancing export potential, encouraging youth participation in creative industries, and fostering regional collaboration across South Asia.

Supported by a strong network of corporate partners, the initiative is led by HNB as the Title Sponsor, reflecting a collective commitment to empowering women economically and driving more inclusive national progress.

Speaking at the press conference, Dr. Ayanthi Gurusinghe, President of CCWE and Chairman of the Fashion Week, stated, “Today we are announcing more than an event—we are introducing a national movement that will transform the way we view women entrepreneurs in Sri Lanka. This platform is designed to open doors for women from every walk of life, enabling them to convert talent into enterprise, gain access to markets, and contribute meaningfully to the economy. Through this initiative, Sri Lanka has the opportunity to lead the region in building a future where inclusion meets opportunity and equality.”

HNB, MD/ CEO, Damith Pallewatte, added, “For over 135 years, HNB has stood as a partner in progress to all Sri Lankans, and supporting women entrepreneurs is central to how we continue that legacy. This initiative creates a platform where women can access markets, build sustainable businesses, and contribute meaningfully to national economic development.

When women are empowered with the right access and support, the impact extends to families, communities, and the broader economy. Our decision to serve as Title Sponsor is driven by our commitment to enabling that access and supporting pathways for long-term growth through financial inclusion and enterprise development.”

Extending regional support, Mrs. Premila Acharya, President of the South Asian Women Development Forum (SAWDF), shared her support online, “The CCWE Fashion Week & International Summit 2026 is a landmark initiative that reflects the strength and potential of women entrepreneurs across our region. It is inspiring to see Sri Lanka take the lead in creating a platform where inclusion, opportunity, and equality come together. SAWDF is proud to stand in partnership with CCWE in empowering women through collaboration and shared progress.”

Highlighting achievements The United Nations Economic and Social Commission for Asia and the Pacific Subregional Office for South and South-West (ESCAP-SSWA) as Knowledge Partner Ms. Mikiko Tanaka, Head and Director noted “ESCAP is pleased to serve as a knowledge partner for the CCWE Fashion Week & International Summit 2026. This initiative reflects our shared commitment to enhance women entrepreneurs’ access to markets, finance and digital networks. Connecting women-led businesses to regional networks can further unlock opportunities outside Sri Lanka. We commend CCWE’s leadership in creating an enabling environment for women from diverse backgrounds to innovate, participate and contribute to inclusive and sustainable economic development.”

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Sri Lanka’s capital market gains international recognition for GSS+ Bond issuances

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The Colombo Stock Exchange (CSE) announces that Sri Lanka’s capital market has received international recognition for the quality and innovation of its Green, Social, Sustainability and Sustainability-Linked (GSS+) bond issuances at the 2026 Sustainable Debt Awards hosted by Environmental Finance. This milestone reflects the continued strengthening of Sri Lanka’s sustainable finance landscape and its growing alignment with international capital markets.

This achievement builds on a sustained collaboration with the EU-funded Green Recovery Facility, implemented by Expertise France, which has supported the development and international positioning of Sri Lanka’s GSS+ bond market. Advisory and coordination support has been provided in close collaboration with the CSE, alongside technical inputs from the contracted consultancy team Baastel led by Jason Taylor.

Since supporting the operationalisation of Sri Lanka’s Green Bond Framework in 2023, this engagement has evolved into a broader effort to develop the country’s GSS+ bond market. Through strengthened policy alignment, market development, and stakeholder engagement, this partnership has contributed to corporate GSS+ bond issuances aligned with international standards.

Collectively, recent GSS+ bond issuances in Sri Lanka have mobilised approximately LKR 82 billion (around EUR 216 million) across green, blue, social, sustainability, and sustainability-linked instruments, financing priority sectors such as renewable energy, energy efficiency, water and coastal resilience, and inclusive social infrastructure. These issuances have been oversubscribed, reflecting growing investor confidence in Sri Lanka’s sustainable finance framework.

This progress has been supported by the introduction of Sri Lanka’s GSS+ Bonds Regulatory Framework in 2025, aligned with international principles, further strengthening market credibility and investor confidence.

The awards recognise the following Sri Lankan institutions:

DFCC Bank – Award for Innovation: Use of Proceeds (Green Bond, APAC)

Bank of Ceylon – Award for Innovation: Sustainability Bond Structure (APAC)

Commercial Bank of Ceylon – Green Bond of the Year (Financial Institution, APAC)

Thimal Perera, Director/Chief Executive Officer, DFCC Bank PLC said, “This recognition reflects the progress Sri Lanka’s capital markets are making in aligning with international sustainable finance standards and strengthening credibility with global investors. We are honoured to receive recognition in the area of innovation in use of proceeds, which highlights the growing ability of Sri Lankan institutions to structure financing solutions with transparency, measurable impact, and long-term relevance. We remain grateful to the regulators, market participants, technical partners, and investors whose continued support is helping advance Sri Lanka’s sustainable finance ecosystem.”

“We are honoured to receive the Environmental Finance’s Sustainable Debt Award for Innovation – Sustainability Bond Structure (APAC) for the Bank of Ceylon’s inaugural LKR 20 billion Basel III compliant Tier 2 Sustainability Bond – the largest sustainability bond issuance in Sri Lanka and the first of its kind. This alignment addressed both BOC’s capital adequacy requirements and commitment to aligning sustainable finance with national development priorities while advancing resilient and inclusive economic growth in Sri Lanka. As the first Sri Lankan bank to secure this prestigious global award, we wish to thank the Colombo Stock Exchange for their proactive coordination and encouragement. We also extend our sincere appreciation to all stakeholders who partnered with us in this trailblazing endeavor.” said Mr. G. A. Jayashantha, Acting Senior Deputy General Manager/ Head of Global Markets, Bank of Ceylon.

Remarking upon the award Sanath Manatunge, Managing Director / Chief Executive Officer of Commercial Bank of Ceylon said “Winning the ‘Green Bond of the Year’ award is a significant milestone for Commercial Bank and a strong endorsement of our commitment to sustainable finance and responsible banking. As the largest private bank in Sri Lanka, we recognise our responsibility to support investments that drive long-term environmental and economic resilience, particularly in the renewable energy sector. This recognition reflects the Bank’s strategic focus on advancing sustainable financing solutions that contribute meaningfully to the country’s climate goals and broader sustainable development agenda.”

These recognitions are particularly significant in the context of Sri Lanka’s ongoing economic recovery and debt restructuring process. As the country works to restore macroeconomic stability and rebuild investor confidence, the ability of Sri Lankan financial institutions to successfully issue GSS+ bonds aligned with rigorous international standards sends a strong signal to global capital markets.

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Uber introduces Hybrid Subscriptions for Moto and Tuk Drivers

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Uber, Sri Lanka’s most loved ridesharing platform, today announced the launch of Hybrid Subscriptions for Moto and Tuk drivers in the country. This includes a new ‘earn first, pay later’ model that gives drivers greater flexibility by allowing them to start earning on the platform without upfront payments. Drivers will continue to benefit from 0% commission on trips, allowing them to keep all of their earnings while paying a subscription fee separately.

With hybrid subscriptions, drivers can choose a model that works best for their driving patterns, making it easier for both full-time and part-time drivers to access trips and earn on Uber. The launch is aimed at improving the overall experience for drivers while continuing to offer reliable mobility for riders.

Flexibility and earning potential remain key priorities for drivers across Sri Lanka’s two- and three-wheeler ecosystem. The new model addresses this by giving drivers more control over how they engage with the platform and how they structure their earnings. By offering both time-based and earning-based subscription options, Uber provides drivers greater flexibility. While time-based subscriptions are ideal for full-time drivers, earning-based subscriptions work well for part-time drivers.

Commenting on the launch, Kaushalya Gunaratne, Country Manager – Mobility, Uber Sri Lanka, said, “”Drivers are at the heart of everything we do. We were among the first to introduce subscription models for Moto and Tuk drivers in Sri Lanka, and with hybrid subscriptions, we’re taking it further – giving drivers the benefits of zero commissions and the flexibility to choose what works best for them.”

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