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Thai PM to travel to Lanka to sign FTA in Feb

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Srettha Thavisin

Thailand’s Prime Minister Srettha Thavisin is scheduled to travel to Sri Lanka to sign a free trade agreement (FTA) in February 2024 after the successful conclusion of the latest round of negotiations between the two countries, Bangkok Post reported.

Chotima Iemsawasdikul, the Director General of Thai Commerce Department’s Department of Trade Negotiations, has told the media on Thursday (Dec.28) that Sri Lanka hosted the 9th round of trade negotiations from December 18-20. It was attended by Auramon Supthaweethum, the Director General of Thailand’s Department of Business Development and advisor to FTA negotiation team.

Negotiations for the free trade agreement between Sri Lanka and Thailand resumed in November after being put on hold for four years consequent to the Covid-19 pandemic and ongoing restructuring of Sri Lanka’s state-owned entities.

Iemsawasdikul stated that the latest round of talks have agreed on the rules on trade, services, investments and economic cooperation.

Citing Iemsawasdikul, Bangkok Post said the Commerce Ministry would submit the results of the negotiations to the Thai Cabinet for approval before PM Thavisin travels to Sri Lanka to ink the agreement in February, on the invitation of President Ranil Wickremesinghe.

Iemsawasdikul told media that Sri Lanka plays a significant role in maritime freight in the Indian Ocean, and it is home to abundant natural resources such as gemstones, graphite, and aquatic animals, adding that many industries in Thailand would benefit from the FTA, including those in the automotive, fashion, gems, metal, electronic items, machinery, rubber gloves, pet food, and corn.

The FTA will also benefit from service firms, including those in finance, insurance, tourism, and research and development.From January to October 2023, the value of bilateral trade between Thailand and Sri Lanka was worth USD 320.37 million.Thailand exported goods worth USD 213.49 million, while it imported goods worth USD 106.88 million from Sri Lanka.



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SARCOMEX-25 concludes strengthening regional SAR services

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The Search and Rescue Communication Exercise (SARCOMEX-25) was successfully conducted on 11 Mar 25 between the Maritime Rescue Coordination Centre (MRCC) Chennai, India, and MRCC Colombo, Sri Lanka. The exercise aimed to further strengthen regional search and rescue (SAR) services and enhance coordination during maritime emergencies.

The exercise simulated two challenging maritime scenarios; a flooding emergency on board and a man overboard situation within the Sri Lankan and Indian Search and Rescue Regions.

These scenarios were designed to evaluate real-time communication, inter-agency cooperation, and the operational efficiency of both MRCCs.

The exercise provided a valuable platform to identify gaps in SAR plans and improve overall response mechanisms of both MRCCs.

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Urgent Warning Against Fraudulent Crypto-Scam Advertisements.

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The Prime Minister’s Office strongly condemns the fraudulent cryptocurrency scam advertisements currently being promoted on Facebook and Instagram, falsely featuring Prime Minister Dr. Harini Amarasuriya and other prominent Sri Lankan figures. These deceptive ads, operated by foreign entities, aim to mislead the public and exploit the trust associated with well-known personalities.

It has come to our attention that these scam campaigns, originating from fraudulent accounts based in Lithuania, are actively targeting Facebook users in Sri Lanka.

Similar ads have recently featured Foreign Minister Vijitha Herath, Minister of Science and Technology MP Chrishantha Abeysena, and well-known journalists Amantha Perera and Sunanda Deshapriya, as well as other Sri Lankan public figures in previous instances.

Public Advisory

We urge citizens to exercise extreme caution when encountering online advertisements promoting cryptocurrency investments, particularly those falsely claiming endorsements from government officials and public figures. No government official or ministry has endorsed any cryptocurrency investment scheme.

Additionally, despite reports and removal requests, variations of these scams continue to appear on social media platforms, highlighting serious concerns about the inability of Facebook to curb fraudulent advertising effectively. We call upon Meta (Facebook’s parent company) to take immediate and stronger action to prevent the spread of these deceptive campaigns and safeguard Sri Lankan users from financial fraud.

How to Protect Yourself:

• Do not engage with or click on suspicious ads claiming endorsements from public figures.

• Report fraudulent advertisements directly on Facebook and Instagram.

• Verify all financial opportunities through legitimate sources before investing.

The Prime Minister’s Office remains committed to protecting the public from online fraud and will continue working with relevant authorities to address this growing issue. We urge media organizations and digital platforms to act responsibly in curbing the spread of misinformation and scams.

For official government updates, please refer to the Prime Minister’s Office’s official website and social media channels.

[Prime Minister’s Media Division]

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Business

JICA and JFTC support Sri Lanka’s drive for economic growth through a fair and competitive market

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The Japan International Cooperation Agency (JICA) and the Japan Fair Trade Commission (JFTC) have expressed their support for policy reforms and institutional enhancements aimed at ensuring the supply of high-quality goods and services in Sri Lanka while safeguarding both consumers and producers.

This was discussed at a meeting held on Wednesday (12) at the Presidential Secretariat between representatives of these organisations and the Secretary to the President, Dr. Nandika Sanath Kumanayake.

During the discussion, the representatives emphasized that establishing fairness in trade would protect both consumers and producers while fostering a competitive market in the country. They also emphasized how Japan’s competitive trade policies contributed to its economic progress, explaining that such policies not only help to protect consumer rights but also stimulate innovation.

The secretary to the president noted that this year’s budget has placed special emphasis on the required policy adjustments to promote fair trade while elevating Sri Lanka’s market to a higher level. He also briefed the representatives on these planned reforms.

The meeting was attended by Senior Additional Secretary to the President, Russell Aponsu, JICA representatives Tetsuya Yamada, Arisa Inada, Yuri Horrita, and Namal Ralapanawa; and JFTC representatives Y. Sakuma, Y. Asahina, Y. Fukushima, and M. Takeuchi.

[PMD]

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