SL to reach bilateral trade agreement with USA

• The matter will be discussed further and will be included in the agreement which would be reached within two weeks as agreed by the two parties
• A Sri Lankan delegation met US Trade Representative Ambassador Jamieson Greer on 22 April, 2025 at the US Trade Representative Office in Washington DC

By Ajith Siriwardana   

Sri Lanka and the United States agreed to continue discussions on reciprocal tariff with the objective of finalising a bilateral trade agreement between the two countries, the President’s Media Division (PMD) said.   

A statement issued by the PMD said both sides expressed the desire to finalise the agreement in the shortest possible time period.   

Meanwhile, Foreign Minister Vijitha Herath speaking on a television programme said that Sri Lanka and the USA had agreed for a policy framework to reach an agreement specially on tax.   

The Minister said matters will be discussed further and will be included in the agreement which would be reached within two weeks as agreed by the two parties.   

He said Sri Lanka proposed the ways to expand imports, change taxes on exports and ways to reduce trade deficit between the two countries.   

“We will see what imports we could make from the USA. Sri Lanka does not import gas, fuel from the USA. We discussed how we could expand our imports,’ he said.   

The PMD said in its statement that a Sri Lankan delegation met US Trade Representative Ambassador Jamieson Greer on 22 April, 2025 at the US Trade Representative Office in Washington DC.   

“The delegation updated Ambassador Greer on the challenges that Sri Lanka has faced in the past and the steps that are being taken by the Government of Sri Lanka to overcome future challenges and move towards full economic recovery.   

The Sri Lankan delegation also highlighted the prompt and positive commitment of the Government of Sri Lanka to work with the US Government in reducing the trade deficit and lowering tariff and non-tariff barriers.   

Ambassador Greer was appreciative of the proposals that Sri Lanka has made in order to commence negotiations and expressed the hope that an agreement can be reached soon between the two countries to ensure fair and equitable trade relations.   

Later on that day, the Sri Lankan delegation met the USTR delegation appointed by Ambassador Greer and led by Assistant United States Trade Representative, In-charge of South and Central Asia, Brendan Lynch along with Director In-charge of South Asia, Emily Ashby to discuss further the offer made in writing by Sri Lanka to the US.   

The two sides agreed to continue the discussions with the objective of finalising a bilateral trade agreement between the two countries. Both sides expressed the desire to finalise the agreement in the shortest possible time period.   

The Office of the U.S. Trade Representative (USTR) is responsible for developing and coordinating U.S. international trade, commodity and direct investment policy, and overseeing negotiations with other countries. The head of USTR is the U.S. Trade Representative, a Cabinet member who serves as the President’s principal trade advisor, negotiator and spokesperson on trade issues,” the PMD statement added.