Latest news with #VijithaHerath
The Independent
26-05-2025
- Business
- The Independent
Debt-stricken Sri Lanka and New Zealand discuss ways to deepen bilateral trade and investment ties
Debt-stricken Sri Lanka hosted one of New Zealand 's top ministers to discuss ways to deepen bilateral ties in areas such as trade, tourism and agriculture. Winston Peters, New Zealand's deputy prime minister and foreign affairs minister, met Sri Lanka Foreign Affairs Minister Vijitha Herath in the capital Colombo on Monday. The five-day visit by Peters is scheduled to continue until Wednesday The visit comes as Sri Lanka struggles to emerge from its worst economic crisis, which began in the Indian Ocean island nation three years ago. The countries have improved relations in recent years, establishing a New Zealand embassy in Colombo in 2021 and a Sri Lankan embassy in Wellington this year. The discussion Monday focused on advancing ties in trade, investment, agriculture, education and tourism, Herath said. 'We also explored expanding trade links in high-potential sectors such as diary, processed food, fresh produce and discussed improving market access for Sri Lankan products,' Herath told reporters. He commended New Zealand's support in developing Sri Lanka's dairy industry, saying it had a 'transformational impact on rural livelihood.' Sri Lanka has embarked on an effort to expand and modernize its domestic diary industry in recent years, but still produces only about 40% of the country's demand for milk and dairy products, while the balance is imported. New Zealand is a key supplier of those dairy products, especially milk powder. In 2024, New Zealand exported $335 million in goods to Sri Lanka, with dairy products forming the bulk. Trade balance between the nations favors New Zealand, which in 2024 imported goods worth $64 million from Sri Lanka including tea, coffee, apparel and rubber products. The discussion included reducing red tape at the border and how to 'increase Sri Lanka's market access capabilities," Peters said. "We discussed the growing number of New Zealand companies working with and investing in Sri Lanka or looking to work with Sri Lankan partners,' said Peters, adding that those collaborations will benefit Sri Lanka's tourism, agriculture and healthcare sectors. Sri Lanka declared bankruptcy in April 2022 with more than $83 billion in debt, more than half to foreign creditors. It sought the help of the International Monetary Fund, which approved a $2.9 billion, four-year bailout package in 2023 under which Sri Lanka was required to restructure its debt. In September last year, Sri Lanka said it had concluded the debt restructuring process after reaching agreements with bilateral and multilateral creditors and private bondholders. Sri Lanka is seeking to obtain $17 billion in debt service relief. Sri Lanka's crisis was largely the result of economic mismanagement combined with fallout from the COVID-19 pandemic, along with 2019 terrorism attacks that devastated its important tourism industry. The pandemic also disrupted the flow of remittances from Sri Lankans working abroad.
Washington Post
26-05-2025
- Business
- Washington Post
Debt-stricken Sri Lanka and New Zealand discuss ways to deepen bilateral trade and investment ties
COLOMBO, Sri Lanka — Debt-stricken Sri Lanka hosted one of New Zealand's top ministers to discuss ways to deepen bilateral ties in areas such as trade, tourism and agriculture. Winston Peters, New Zealand's deputy prime minister and foreign affairs minister, met Sri Lanka Foreign Affairs Minister Vijitha Herath in the capital Colombo on Monday. The five-day visit by Peters is scheduled to continue until Wednesday
Associated Press
26-05-2025
- Business
- Associated Press
Debt-stricken Sri Lanka & New Zealand discuss ways to deepen bilateral trade and investment ties
COLOMBO, Sri Lanka (AP) — Debt-stricken Sri Lanka hosted one of New Zealand's top ministers to discuss ways to deepen bilateral ties in areas such as trade, tourism and agriculture. Winston Peters, New Zealand's deputy prime minister and foreign affairs minister, met Sri Lanka Foreign Affairs Minister Vijitha Herath in the capital Colombo on Monday. The five-day visit by Peters is scheduled to continue until Wednesday The visit comes as Sri Lanka struggles to emerge from its worst economic crisis, which began in the Indian Ocean island nation three years ago. The countries have improved relations in recent years, establishing a New Zealand embassy in Colombo in 2021 and a Sri Lankan embassy in Wellington this year. The discussion Monday focused on advancing ties in trade, investment, agriculture, education and tourism, Herath said. 'We also explored expanding trade links in high-potential sectors such as diary, processed food, fresh produce and discussed improving market access for Sri Lankan products,' Herath told reporters. He commended New Zealand's support in developing Sri Lanka's dairy industry, saying it had a 'transformational impact on rural livelihood.' Sri Lanka has embarked on an effort to expand and modernize its domestic diary industry in recent years, but still produces only about 40% of the country's demand for milk and dairy products, while the balance is imported. New Zealand is a key supplier of those dairy products, especially milk powder. In 2024, New Zealand exported $335 million in goods to Sri Lanka, with dairy products forming the bulk. Trade balance between the nations favors New Zealand, which in 2024 imported goods worth $64 million from Sri Lanka including tea, coffee, apparel and rubber products. The discussion included reducing red tape at the border and how to 'increase Sri Lanka's market access capabilities,' Peters said. 'We discussed the growing number of New Zealand companies working with and investing in Sri Lanka or looking to work with Sri Lankan partners,' said Peters, adding that those collaborations will benefit Sri Lanka's tourism, agriculture and healthcare sectors. Sri Lanka declared bankruptcy in April 2022 with more than $83 billion in debt, more than half to foreign creditors. It sought the help of the International Monetary Fund, which approved a $2.9 billion, four-year bailout package in 2023 under which Sri Lanka was required to restructure its debt. In September last year, Sri Lanka said it had concluded the debt restructuring process after reaching agreements with bilateral and multilateral creditors and private bondholders. Sri Lanka is seeking to obtain $17 billion in debt service relief. Sri Lanka's crisis was largely the result of economic mismanagement combined with fallout from the COVID-19 pandemic, along with 2019 terrorism attacks that devastated its important tourism industry. The pandemic also disrupted the flow of remittances from Sri Lankans working abroad.
The Hindu
15-05-2025
- Politics
- The Hindu
Sri Lanka protests ‘genocide monument' in Canada ahead of civil war anniversary
Sri Lanka has conveyed its 'strong objections' to the opening of a 'Tamil genocide monument' in Brampton in Ontario, Canada, saying such actions 'complicate and undermine' the government's efforts towards reconciliation and national unity. Sri Lankan Foreign Minister Vijitha Herath on Wednesday summoned the Canadian High Commissioner in Colombo and conveyed the government's position on the 'unfounded genocide allegations' and the construction of such a memorial in Canada, which is home to a sizeable population of Sri Lankan Tamils who fled the island nation's long civil war. The monument, unveiled on May 10, is dedicated to the memory of Tamils killed in the war. On May 18, 2025, Tamils in Sri Lanka and elsewhere will commemorate 16 years since the civil war's end, when tens of thousands of civilian lives were lost, including in areas declared 'no fire zones' by the Sri Lankan authorities. Families of survivors have resolutely demanded justice for the killing of civilians — 40,000 according to UN estimates — in the final battle of Mullivaikkal, in Sri Lanka's northern Mullaitivu district, and the enforced disappearance of thousands of people, including those who surrendered to the army. Successive governments in Colombo have denied it was a 'genocide', but are yet to convincingly probe the grave rights abuses committed allegedly by the military, whose members are hailed as 'war heroes' in the island's Sinhala-majority south. In 2023, President Ranil Wickremesinghe's government 'condemned and rejected outright' the remarks of then Canadian Prime Minister Justin Trudeau, marking the civil war anniversary as 'Tamil Genocide Remembrance Day'. Responding to Minister Herath's post on X, Gajendrakumar Ponnambalam, Jaffna MP and Leader of the Tamil National People's Front (TNPF), challenged the government, and asked: 'If you truly believe that the allegations of Genocide against the Tamils by the Sri Lankan State are unfounded, then why do you demonstrate such fear at facing an international independent criminal investigation and proving the State's innocence? Why not sign up to the Rome Statute and allow the ICC to investigate?' 'The fact is, Minister, the State fears the truth! Truth is the only way to reconciliation, and your government, like the previous ones, will keep denying it,' Mr. Ponnambalam said. Amid their enduring demands for accountability, the release of military-held lands of the people, and meaningful revival of a much-neglected local economy, Tamils of the north and east gave President Anura Kumara Dissanayake's National People's Power (NPP) a huge mandate in the November 2024 general elections, signalling hope that the left-leaning leader, who promised to change the country's political culture, would address their wide-ranging post-war concerns. While Mr. Dissanayake has initiated the release of some land and repeatedly stated that his government will never resort to racism, many in the Tamil community are waiting to see swift and concrete action on the pledges made to them during his campaign. Weighing in on the recently held local government elections, in which Tamil parties outdid the NPP in the north and east, Tamil commentators blamed the government's inadequate action for its electoral losses in the area. They also hope that Tamils are allowed to remember their loved ones without fear or military surveillance. According to Human rights activist Ruki Fernando, 'A good test will be to see whether the NPP is willing to mourn and grieve with Tamils on May 18, or will it triumphantly celebrate it as a military victory'. Observing that the term 'genocide' has a specific legal definition, he said it is a matter of debate if what happened to Tamils in the last phase of the war, and since independence — 'multiple massacres, riots, colonisation of lands' —falls within the legal definition of a 'genocide'. 'Regardless of legal definitions, many in Sri Lanka believe what happened was a genocide against Tamils. A responsible government should patiently and sensitively listen to and engage with Tamil citizens on such concerns,' he added.
Hindustan Times
14-05-2025
- Politics
- Hindustan Times
Sri Lanka summons Canadian envoy to protest Tamil monument
Sri Lanka on Wednesday summoned the Canadian envoy to formally protest the opening of a Tamil Genocide Monument in Brampton, Ontario, the foreign ministry said. Foreign Minister Vijitha Herath summoned Canadian High Commissioner Eric Walsh to register Sri Lanka's protest, the ministry said. 'The government of Sri Lanka maintains that the allegation of genocide during the final phase of the conflict in Sri Lanka is unsubstantiated by any credible authority, either nationally or internationally, and is based on misleading information," a statement said. Sri Lanka firmly "rejects this false narrative and believes it has been propagated primarily for electoral gains within Canada', it added. 'It is worth highlighting that in April 2021, the Department of Foreign Affairs, Trade, and Development of Canada officially confirmed that the Government of Canada has not made any finding of genocide in Sri Lanka," the ministry said. The Tamil Genocide Memorial has been set up in Canada's Ontario province's Brampton to commemorate the victims of the final battle of the military conflict in May 2009, Tamil groups said.
