Business
Sri Lanka offers case study of organic agriculture to the world
By Sanath Nanayakkare
Shasheendra Rajapaksa, State Minister of Promoting the Production and Regulating the Supply of Organic Fertiliser and Advanced Technology Agriculture yesterday invited all countries in the world to use Sri Lanka as a case study for organic agriculture.
“We invite all countries in the world to study Sri Lanka’s experiences in Organic Farming; our methods, outcomes and shortcomings because our concerted efforts in this direction will provide a more in-depth insight into developing Organic Agriculture practices,” he said.
He made these remarks at an event where Colombo Commercial Fertilizers Ltd. entered into a Memorandum of Understanding (MoU) with Polish venture capital firm Regina Purpurea Fundus to establish preliminary parameters to form a joint venture for an Organic Fertiliser manufacturing operation in Sri Lanka.
The MoU involves a Rs. 12.8 billion funding proposal from Poland for organic fertilizer production in Sri Lanka.
Describing the proposed joint venture as a public-private partnership to power agricultural revolution in Sri Lanka, the state minister said,” We started this process from end to the front. We made the decision of going organic in our farming last April and started implementing it from May 2021. We realized that when we start a grave task of this nature, we can’t think of an appropriate point of starting. We reviewed the ground situation first. Do farmers already engage in Organic Agriculture ? How do they do it? What are the issues they face when switching to Organic Agriculture? We explored how other countries do this. We started it after studying all that. Today we have taken a decision to go for 100% Organic Agriculture in a systematic way.. The MoU we signed today would be a key step in that direction. The main need to realize this objective is the production of Organic Fertilizer. As the world has embraced this concept, we are trying to make Sri Lanka the first country in the world that engages in 100% Organic Agriculture. We need to learn from the world. We need to get insights from not only the local private sector but also from the foreign private sector. As we move forward in this journey, Sri Lanka will provide a good case study of Organic Agriculture to the world,” he said.
This public-private partnership (PPP) was formalised in the presence of Secretary to the Ministry of Agriculture, Prof. Udith K. Jayasinghe, State Minister Shasheendra Rajapaksa and Secretary to the State Minister M. N. Ranasinghe.
The MoU was signed by Polish entrepreneur Hubert Drabik, Founder and President of the Board of Regina Purpurea Fundus, and Chairman of Colombo Commercial Fertilizers Ltd.
Regina Purpurea Fundus (RPF) is a Polish venture capital consortium working with development-oriented governments and organisations to invest in a wide range of initiatives aimed at sustainable economic growth both domestically and internationally.
RPF is supported by the Polish Ministry of Agriculture, the Polish Chamber of Commerce, and a number of state banks of Poland.
RPF intends to design, finance, build and operate the large-scale project with a total investment of LKR 12.8 billion, with proof of availability of funds.
The operation will be spread out across four plants in Trincomalee, Monaragala, Anuradhapura and Hunupitiya, supported by a testing and certifying laboratory, and will contractually produce an annual capacity of 200,000 metric tons of organic fertilizer for Colombo Commercial Fertilizers Ltd (CCFL) on an exclusive basis.
A comprehensive due diligence investigation of the investment proposal and funding capacity will be carried out by CCFL with mutual cooperation from RPF to its satisfaction within the next two weeks followed by Cabinet approval of the project. All parties will then enter into a more comprehensive Joint Venture Agreement with detailed conditions mutually agreed upon within three weeks from the signing of the MOU.
Poland’s RFP will produce organic fertilizer for Colombo Commercial Fertilizers Ltd in above mentioned capacity for 20 years, ensuring a return on investment (ROI) for the company before handing over the total project to Sri Lanka.
The Polish company said 100% Sri Lankan inputs would be used for the production of organic fertilizer at the proposed facilities and no ingredients would be imported for the purpose
India and the UK have restarted free trade talks, nearly a year after negotiations were paused ahead of general elections in both countries.
Jonathan Reynolds, the UK’s business and trade secretary, met his Indian counterpart Piyush Goyal in Delhi on Monday and kicked off the two-day discussions.
The talks focused on “advancing” the negotiations and ensuring that the deal was “balanced, ambitious and mutually beneficial”, Goyal wrote on X.
The countries have held more than a dozen rounds of negotiations since 2022, but an agreement has remained out of reach.
Sticking points include high tariffs in India on Scotch whisky and relaxing fees and visa rules for Indian students and professionals going to the UK.
Talks are being held for the first time after the Labour Party came to power in the UK and Reynolds says securing a deal is a “top priority” for his government.
“Growth will be the guiding principle in our trade negotiations with India and I’m excited about the opportunities on offer in this vibrant market,” he said in a statement ahead of the meeting.
India is forecast to become the world’s third-largest economy in a few years.
The ministers held a joint press conference after the meeting, but neither side offered a deadline for talks to conclude. Deadlines set by former ministers Boris Johnson and Liz Truss had passed without an agreement being finalised.
For Delhi, the trade talks have assumed renewed significance on the back of US President Donald Trump’s decision to impose reciprocal or tit-for-tat tariffs on imported goods from countries, including India.
The UK is also a high-priority trading partner for Prime Minister Narendra Modi’s government, which has an ambitious target to grow exports by $1 trillion by FY30.
The UK had announced in November last year – soon after Sir Keir Starmer met PM Modi at the G20 summit in Brazil – that talks would restart in the new year.
The two countries share a trade relationship worth £41bn ($52bn) currently, according to a UK government statement, and a trade deal could unlock new opportunities for both countries.
London has identified sectors that could benefit, which include advanced manufacturing, clean energy and professional and trade services. An agreement could also potentially unlock a valuable market for British cars, Scotch whisky and financial services worth billions of dollars.
India is seeking greater mobility for its working professionals and students to the UK, while pushing for faster visa processing times.
It may also seek concessions for its residents working temporarily in the UK on business visas, who are required to pay national insurance but are still ineligible for social benefits.
Speaking at the joint conference, Goyal said that immigration was not a part of the discussions.
“India has never ever discussed immigration in any free trade negotiations,” he said. Reynolds added that business mobility was a “separate issue” from immigration.
During Reynolds’ visit, he and Goyal will also visit the BT office in the northern Indian city of Gurugram.
UK Investment Minister Poppy Gustafsson is also in India and will be participating in events in India’s two big business hubs – Mumbai and Bengaluru.
After years of scepticism over free trade deals, India has been signing agreements or is in talks with several countries or blocs. Last year, it signed a $100bn free trade agreement with the European Free Trade Association – a group of four European countries that are not members of the European Union – after almost 16 years of negotiations.
It is also set to resume negotiations with the European Union this year.
[BBC]
India – Sri Lanka bilateral relations
By Sanath Nanayakkare
Sri Lanka cannot afford to stay in isolation and the two countries’ future is tied together even more than in the past, was the highlight of the keynote speech delivered by Santosh Jha, the High Commissioner of India to Sri Lanka, at the Innovation Island Summit held at ITC Ratnadipa on 20 February 2025.
“Like any other country, Sri Lanka cannot afford to remain in isolation, and the futures of the two nations are more interconnected than ever before, the Indian HC pointed out, addressing the key event attended by 200 participants from over 45 countries.
The following are some excerpts from his speech.
“Sri Lanka is on the cusp, potentially, of a big change. People’s aspirations and expectations have found a new expression in the two elections held in Sri Lanka. The Covid pandemic and the economic crisis in Sri Lanka has underlined the need for a transformation that many Lankans have yearned for generations to happen.”
“Sri Lanka as an Island country is particularly vulnerable to climate change. It is also blessed with rich potential for green energy, including for energy exports to the larger Asian region. And Chrome because digitization has become the new currency for low middle income countries to transcend their entrenched inefficiencies; and to outgrow them to position themselves to take full advantage of the many opportunities in an emerging geo-technological age.”
“Third, and this is my last point. Like any other country, Sri Lanka cannot afford to stay in isolation. Global connectivity and interdependence remain a norm even in this new era of re-globalization. Whether it is markets abroad, or critical imports or tourism, investment and technology, Sri Lanka needs to remain engaged with the rest of the world. This requires a better understanding of global trends and opportunities. I am sure that this conference would help build a better appreciation of the need for global engagement as a means to fulfilling the aspirations of Sri Lankans for change, growth, and prosperity.”
“As far as we in India are concerned, we are engaged with Sri Lanka on the basis of our Neighborhood First and SAGAR approach. Our relations are based on the principles of solidarity; of sharing whatever best we can offer to each other; and being a partner of first as well as last resort. Today, our relations are better than ever before and spread across a wide range of domains. Prime Minister of India Shri Narendra Modi has described connectivity, energy and digitization as the three principal pillars of our development partnership. We are also engaged in other areas such as health, education, ports and airports, agriculture, fisheries in addition to security and defence. As civilizational twins, our partnership is a necessity and not a matter of choice. Our future is tied together even more than our past was.”
Mohamed Zafir Azeez, the founder of Projector.LK, has been recognized for his outstanding contributions to the industry for Business Excellence, Innovation, and Entrepreneurship. With over a decade of experience, he has built Projector.LK into a leading brand in Sri Lanka, providing high-quality Smart Boards, Multimedia Projectors and Business solutions.
Beyond business, Azeez is an inventor and researcher, focusing on emerging technologies and innovation. His dedication to entrepreneurship and technological advancements earned him these two awards he believes.
Committed to growth, Azeez aims to expand his business and continue pioneering technological solutions in Sri Lanka’s digital landscape, inspiring young entrepreneurs with his vision and leadership.
He expressed gratitude to his loyal customers for contributing to his success and vowed to continue winning awards in the future.”
Prasanna Perera appointed Director General of the President’s Media Division (PMD)
UK and India relaunch trade talks in Delhi
Pope still critical after 10th night in hospital – Vatican
-
News6 days agoCommercial High Court orders AASSL to pay Rs 176 mn for unilateral termination of contract
-
Sports5 days agoSri Lanka face Australia in Masters World Cup semi-final today
-
Midweek Review6 days agoImpact of US policy shift on Sri Lanka
-
Features7 days agoDoing it in the Philippines…
-
Features7 days agoUSAID and NGOS under siege
-
Sports2 days agoHow Sri Lanka fumbled their Champions Trophy spot
-
Business7 days agoDialog delivers strong FY 2024 performance with 10% Core Revenue Growth
-
News5 days agoCourtroom shooting: Police admit serious security lapses