The Hon. (Dr.) Harshana Suriyapperuma - Deputy Minister of Finance and Planning

¶ 01 Hon. Deputy Chairperson of Committees, the Hon. Member has not posed just one Question but 16. They were received a little late. However, an Answer has been prepared. Three sections: US tariffs, GSP Plus, and UK trade discussions.

¶ 02 On the US tariff discussions: 1. Discussions are ongoing and not finalized. 2. The same applies to concrete steps—alternatives are identified, but finality awaits the outcome of discussions. 3. Regarding an updated export strategy, we are exploring new markets and products, focusing on diversification. Multiple factors are under consideration; again, finality is pending. Engagement is positive and geared to mutual benefit. 4. On reciprocity to safeguard producers from asymmetrical trade: both parties’ expectation is mutual benefit; Sri Lanka is not specifically targeted—this follows global dynamics. Relations and discussions are good. 5. Trade disruptions can create opportunities. We have identified areas Sri Lanka can explore; though challenges exist given the economic situation, we expect a good outcome. 6. We continuously explore other regional alliances, facilities and opportunities.

¶ 03 On EU GSP Plus: It is an ongoing process. EU partners have visited and we held preliminary discussions with progress noted. Our approach is to engage multiple stakeholders and incorporate their views in addressing identified issues with a focus on improvements. Regarding the Online Safety Act and other provisions mentioned, we are exploring alternative approaches to provide solutions. We expect changes in EU regulations and approach, with initial indications already given; we await more detail to provide a more constructive response.

¶ 04 On the UK: Discussions are ongoing; several rounds have taken place.

¶ 05 1. Sri Lanka has consistently expressed interest in trade or market access arrangements with the UK—especially post-Brexit—highlighting mutual benefits for key sectors like apparel, tea and rubber-based products, via official channels. 2. We have proactively engaged the UK regarding market access through consistent outreach and official engagements. 3. While “priority country” status is an important concept, negotiations are multifaceted, depending on mutual readiness, alignment of interests and timing. Sri Lanka constructively engages the UK, leveraging shared history and Commonwealth ties through appropriate diplomatic and trade channels. 4. The Government continues to explore all mechanisms and avenues for continuous dialogue. 5. We are closely monitoring the India–UK FTA. Detailed provisions—tariff schedules, rules of origin, quotas, services—are not sufficiently public yet. We will conduct a comprehensive impact analysis on major sectors and overlapping export interests, and explore synergies. Given proximity to India, additional opportunities may arise. We do not anticipate immediate threats, but will keep monitoring, analyze details and prepare a detailed Government response to facilitate exporters’ continued market access and industry growth. This aligns with our production economy focus; we will support and facilitate these industries.

¶ 06 Thank you.