Treasury Secretary confirms SL exploring US energy option

Saturday, 2 August 2025 00:55 - - {{hitsCtrl.values.hits}}

Treasury Secretary Dr. Harshana Suriyapperuma yesterday confirmed that Sri Lanka is exploring ways to secure more competitive pricing on key imports such as oil and advanced machinery through ongoing trade discussions with the US, noting that negotiations aim to reduce both tariff and non-tariff barriers without discrimination.

“As a net importer of energy, industrial raw materials and advanced machinery, Sri Lanka is already sourcing these items internationally. So, we are trying to see how we can open up our markets in a way that’s non-restrictive and non-discriminatory,” he told journalists yesterday.

He noted that the current talks are focused on identifying space to reduce costs and improve access for US suppliers.

Confirming that the energy sector is one of the areas being looked at in detail the Treasury Secretary stressed that the ongoing discussions with the US are also evaluating the potential for Sri Lanka to benefit from regional trade flows. “Given that there will be a lot of shipments coming toward the region in the future, perhaps Sri Lanka will be able to benefit and get a better price,” he added.

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