Ex-Envoy Urges Swift Finalisation of US-Sri Lanka Tariff Agreement 📈

• Market & Export Significance: The US accounts for 25% of Sri Lanka's total exports, making the formalisation of trade terms crucial for long-term export security and attracting foreign direct investment. • Tariff Concessions & Negotiations: Successful diplomatic negotiations progressively reduced proposed tariffs on Sri Lankan goods from a high of 44% down to 33%, and eventually to 10%. • Current Progress: Deliveries at the SLID Annual Members Meeting confirm that 90% of the agreement content is finalized. Remaining differences are being negotiated to lock in favorable rates and provide predictability for domestic exporters. • Reciprocal Terms: Countries finalizing trade agreements with the US must grant either full or near-complete duty-free access to American imports. • Call to Action: Former Ambassador Mahinda Samarasinghe strongly advised the Government to conclude domestic legal processes rapidly to formalize the deal and maintain market access for key national industries such as apparel & textiles and other major export sectors.