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

¶ 01 Hon. Speaker, I would like to reply to the Question raised by the Hon. Sajith Premadasa under Standing Order No. 27(2) on 09th April, 2025.

¶ 02 01. Not available. 02. Not applicable. 03. Yes, it is available. 04. There are six members. The names of the six members are Robert B. Aderholt (Republican - Alabama); Dina Titus (Democratic - Nevada); Gerald E. Connolly (Democratic - Virginia); Al Green (Democratic - Texas); Gwen Moore (Democratic - Wisconsin) and Frank Pallone (Democratic - New Jersey). 05. The Government has already issued a press release in this regard. And, I will make arrangements, Sir, to table a copy of that for the information of the Hon. Members. 06. Several discussions had been held in this regard and several measures have been implemented, including official correspondence from the Government of Sri Lanka to the Government of the United States. We have had verbal as well as in-person discussions, seeking clarifications and exchanging data requested for. That will be of help to continue the discussions, understand the expectations and to identify solutions. 07. Discussions had been held with the Office of the United States Trade Representative to facilitate market access and to maintain the competitive advantage that Sri Lanka enjoyed in the past. 08. To develop and implement a mutually beneficial mechanism and to provide market access for exporters from both countries. As outlined in the official press release issued by the Government at the beginning of the process, it intends to keep all stakeholders updated in due course based on the outcomes of this engagement. 09. Steps taken for the diversification of export destinations are: - Preparing to convert small and medium domestic enterprises into export-oriented enterprises. - Maximizing existing preferential market access, including the EU - GSP Plus scheme. - Expediting market expansion in the United Kingdom, Asian region and African countries for Sri Lankan tea and rubber products. - Promoting exports to the Indian market; and - Utilizing medium- and long-term strategies to broaden export markets. 10. Strengthening the BoI, increasing transparency and fairness in the process while increasing the efficiency for investors to access, expediting the implementation of the National Single Window, implementing mechanisms such as the Global Competitiveness Index to increase Sri Lanka’s ranking, establishing mechanisms to minimize and eliminate corruption within institutions, including an Internal Affairs Unit to stop corruption-related activities like soliciting bribes from investors, identifying strategically important areas, considering public-private-people participation mechanisms, preparing enabling regulations, facilitating SME listing, increasing efficiency of information sharing, improving regulatory responses which are proportionate and commensurate with circumstances, and developing market infrastructure are some examples in this regard. 11. As discussions on tariff have not been finalized, this will be considered based on evolving circumstances.

¶ 03 However, the Government has already initiated a number of programmes in this regard, to prepare for this in terms of diversification and facilitation. To clarify, we are diversifying exports to suit international markets, implementing programmes to develop all necessary facilities for tourists to increase tourism earnings, taking prompt steps to minimize existing barriers to promote FDI, formulating strategies to retain foreign exchange within the country and minimize outflows through various strategic plans, including plans to reduce foreign exchange spent on education and health services overseas.

¶ 04 Further, to overcome these challenges, work is underway to develop a structured strategic plan with input from experts representing various sectors.