Business
U.S. Commerce Dept. links with Sri Lanka America Chamber of Commerce to promote bilateral trade, investment
Move to attract Colombo Port City to American and foreign entrepreneurs
Two Washington-based senior officials of the South & Central Asia Division of the Commercial Law Development Programme (CLDP) of the U.S. Department of Commerce recently met with the Board of Directors of the Sri Lanka America Chamber of Commerce (SLACCOM) in its national headquarters in Las Vegas, Nevada to ascertain the feasibility of establishing a better flexibility for trade, commerce and investment between the two countries.
Led by SLACCOM president Sanje Sedera and his deputy Aruna Abayakoon with the participation of Charitha Yattogoda, Commercial Minister of the Sri Lankan Embassy in Washington and Anil Sirimanna, Minister Counselor of the Los Angeles-based SL Consulate General office, the four-hour discourse highlighted the vitality of twinning Colombo Port City with the global convention capital – the City of Las Vegas – promoting American and visiting foreign convention entrepreneurs to establish trade, commerce and investment with Sri Lanka using a twinning of the cities, attracting Colombo Port City to American and foreign entrepreneurs while engaged in improving the legal environment for such engagements, and probing avenues for small and medium Sri Lankan businesspersons to have an enhanced American market.
It was noted at this discourse between American and Chamber officials that the U.S. is Sri Lanka’s largest export market which accounts US$3 billion (in 2018) out of her total $11.7 billion exports and yet it was noted that there was a decrease of 6.4 percent from the 2017 export volume, and the importance of exploring avenues to enhance the volume of exports while engaged in improving legal environment to foster greater economic opportunity for both Sri Lankan entrepreneurs and US companies.
The Commercial Law Development Programme officials of the US Department of Commerce expressed their desire and interest in working with the SLACCOM to improve conducive legal environment for doing business between the United States and Sri Lanka, highlighting that such efforts undoubtedly foster greater political stability in Sri Lanka and economic opportunity for both nations.
The CLDP is tasked to improve the legal environment for business worldwide, as mentioned by Zmarak Khan, senior counsel for South and Central Asia of the Program in the US Commerce Department, and aimed at achieving US foreign policy goals in developing and post-conflict countries such as Sri Lanka through commercial legal reforms. Ms. Jocelyn A. Steiner, Attorney Advisor (international) said the Commercial Law Development Program unique government-to-government technical assistance draws upon highly experienced regulators, policymakers and business leaders to make meaningful and lasting changes to legal and judicial environment of the host country.
Three directors of the SLACCOM, deputy president Aruna Abayakoon, Douglas Perera and Lalindra Wickremaratne, apprised the two visiting Commerce Department officials their tour and discussions at the Colombo Port City last December, the engagement their Chamber envisages to promote trade, commerce and investment between the two countries, and their discussions with officials of Sri Lanka’s Board of Investment in Colombo including its head Raja Edirisuriya.
Khan pledged that he will have a dialogue with the Economic-Commercial Counselor of the American Embassy in Sri Lanka what steps and measures need to be taken to facilitate American entrepreneurs to engage in the Colombo Port City. Twinning both the City of Las Vegas and Colombo Port City, as explained by Chamber president Sanje Sedera, Khan said was a progressive thought as throughout the year Las Vegas has become a destination for trade shows and conventions bringing investors and entrepreneurs from worldwide.
The Chamber’s task is to establish rapport with these visiting economic giants, as engaged already, to ascertain what kind of investments possible in Sri Lanka while using the already established contacts in Sri Lanka to help and promote medium and small exporters to find markets in the United States, the Chamber directors informed the two Commerce Department officials. The CLDP comes in to make meaningful and lasting changes to legal and judicial environment in Sri Lanka with official dialogue with the government, it was noted at the discourse. The Chamber is exploring what incentives need to attract medium and large exporters to hold trade shows and conventions in Las Vegas which could expose them to international visiting entrepreneurs.
Business
GDP data reaffirms persistent asymmetry of Sri Lanka’s provincial economy
Western Province maintains its dominant position, accounting for 42.4% of nominal GDP
The 2024 provincial GDP data reaffirms the profound and enduring structural asymmetry in Sri Lanka’s economic geography. The Western Province continues to function as the nation’s overwhelming economic core, while the second and third runners-up, the North Western and Central Provinces respectively, operate on a markedly different scale and sectoral foundation.
The Western Province maintains its dominant position, accounting for 42.4% of the country’s nominal GDP. This preeminence is rooted in its commanding role across the high-value Services and Industry sectors, where it contributes 44.5% and 47.6% of national output, respectively. Its economy is distinctively modern, with a scant 2.3% reliance on agriculture and over 98% of its output derived from industry and services. This concentration of finance, trade, administration, and manufacturing creates an unmatched gravitational pull for investment and talent.
In stark contrast, the combined economic share of the North Western (11.5%) and Central (10.7%) Provinces is just over half that of the Western Province alone. Their paths to relevance are fundamentally different. The North Western Province has solidified its role as the nation’s agricultural heartland, contributing a full 20.0% of national agricultural activity. It also holds a significant, though secondary, position in industry at 12.0%. Its internal economic composition is more balanced across sectors than the west, with a notable reliance on industry (29.1% of its own GDP) alongside agriculture.
The Central Province, meanwhile, presents a more services-oriented profile among the runners-up, contributing 10.7% to the national services total. It also holds important shares in agriculture (13.9%) and industry (9.6%). Internally, its economy mirrors the national structure most closely among major provinces, with services constituting about 63% of its output. This suggests a diversified regional economy centered on urban hubs like Kandy, but one that lacks the concentrated high-end service power of Colombo.
The comparative analysis reveals a clear hierarchy. The Western Province is the integrated, metropolitan driver of the modern economy. The North Western Province serves as a vital agro-industrial base, and the Central Province as a diversified regional center. Despite a noted increase in the combined share of the other provinces, the gap remains vast. The economic landscape is thus characterized not by convergence, but by a persistent and specialized asymmetry, where the runners-up support the national economy through different, but essential, sectoral strengths, all while operating in the long shadow of the western province.
by Sanath Nanayakkare
Business
Sri Lanka Insurance supports 1,000 families in flood-affected areas
Sri Lanka Insurance Life and Sri Lanka Insurance General, in collaboration with the National Disaster Relief Services Centre (NDRSC), extended vital assistance to 1,000 families affected by the recent ‘Ditwah’ cyclone. The relief initiative was carried out in two phases on 30th November and 2nd December 2025, reflecting the company’s continued commitment to supporting communities in times of distress.
Dry ration packs were distributed through the NDRSC to the Maharagama Urban Council and the Divulapitiya Pradeshiya Sabha, ensuring that aid reached the most affected households swiftly and efficiently. Both distribution programmes were held with the participation of local authorities and the management teams of SLIC Life and SLIC General, further strengthening the company’s close partnership with the communities it serves.
Speaking on the initiative, Chairman of Sri Lanka Insurance, Nusith Kumaaratunga, stated; “Sri Lanka Insurance has always placed community wellbeing at the heart of its purpose. In difficult times such as these, it is our responsibility to stand with the families who have been affected and offer meaningful support. This relief effort reflects our ongoing commitment to uplift communities and reinforces our role as a trusted national insurer focused on protection, care, and compassion.”
In addition to the relief programme, Sri Lanka Insurance has implemented extended operating hours at selected SLIC General branches in the affected areas to ensure uninterrupted service. Claims, customer care teams, and branch staff are working beyond regular hours to provide prompt assistance to policyholders impacted by the severe weather conditions.
Sri Lanka Insurance remains dedicated to safeguarding its customers and supporting communities across the nation, reaffirming its longstanding promise of protection, stability, and service excellence.
Business
Jaffna Hindu College wins regional AIA Healthiest Schools award
Jaffna Hindu College was named as one of the winners at the regional award ceremony of the prestigious AIA Healthiest Schools Competition, a flagship initiative by AIA Group aimed at promoting healthier habits among students across Asia-Pacific region through innovative school-based projects. The competition, which drew a record number of entries from eight regional markets, recognises schools that implement innovative and impactful initiatives in the areas of healthy eating, active living, mental wellbeing, and sustainability. Jaffna Hindu College stood out in the Active Lifestyles Award Category for its creative and community-focused project that introduced a bicycle rental system, ensuring greater access to physical activity for all students and encouraging healthier lifestyles across the region.
The winners of AIA Healthiest Schools programme were honoured at a vibrant regional awards ceremony in Da Nang, Vietnam, where the prize money was awarded to the respective schools to support the ongoing health and wellbeing initiatives.
The Cycling Club was introduced to make physical activity accessible and enjoyable for all students. The club introduced a bicycle rental system, managed via a custom software platform, ensuring equitable access regardless of financial background. Students participated in a cycle parade and three themed challenges focused on endurance, speed, and teamwork. The initiative quickly became popular, engaging over 100 students and receiving enthusiastic support from teachers, parents, and local businesses. Experienced cyclists from the community volunteered as coaches, while cycling organisations provided safety training and route planning.
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