JOINT APPAREL ASSOCIATION FORUM SRI LANKA (JAAFSL)


💰 The Economy
📰 Investor optimism drives ASPI back above 16,000 mark
The Colombo bourse extended its rally for a second consecutive session, closing above the
16,000 mark amid strong trading activity. The All Share Price Index (ASPI) gained 73.04 points
to settle at 16,007.44, bringing its cumulative monthly increase to 192 points.
Link: https://tinyurl.com/yjpk8hex

📰 Sri Lanka records 722,276 tourist arrivals in Q1 of 2025
The Sri Lanka Tourism Development Authority (SLTDA) reported that 229,298 tourists visited
the country in March 2025, bringing total arrivals for the first quarter of the year to 722,276.
Throughout March, weekly arrivals consistently exceeded 50,000, with the highest single-day
figure recorded on March 28, when 8,619 tourists entered the country.
Link: https://tinyurl.com/3fh8n7hy

📰 President Donald Trump announces new tariffs on Sri Lankan exports to the US
According to an announcement by U.S. President Donald Trump on 2 April, a 10 percent baseline
tariff on all imports will take effect from 5 April, increasing to a 44 percent “reciprocal” tariff
on Sri Lankan exports, commencing from 9 April.
Link: https://tinyurl.com/2n4uspxz

⚖ Politics & Policy
📰 India and Sri Lanka to sign several key agreements on defence, health, energy and digital economy
Sri Lanka and India is set to sign several bi-lateral agreements on defence, health, energy and
digital economy during Indian Prime Minister Narendra Modi’s official visit to Sri Lanka from
April 4 – 6, Cabinet Spokesman Dr. Nalinda Jayatissa stated.
Link: https://tinyurl.com/2mks4b8f

📰 Sri Lanka and Switzerland strengthen bilateral trade via collaborations
The Sri Lanka Export Development Board (EDB) recently held a meeting to discuss enhancing
bilateral trade relations with Switzerland. Ambassador of Switzerland to Sri Lanka and Maldives
Dr. Siri Walt and Sri Lanka Export Development Board Chairman Mangala Wijesinghe attended
the meeting, where discussions focused on expanding economic collaboration between the two
countries.
Link: https://tinyurl.com/47bttkk6

📰 Ministry of Labour to increase private sector minimum salary to LKR 27,000
The Ministry of Labour has announced plans to amend existing legislation to raise the monthly
minimum wage for private sector employees to LKR 27,000. Ministry Secretary S.M. Piyatissa
said that the proposed amendments will be referred to the Cabinet before being submitted to
Parliament in May. This salary increase aligns with this year’s budget proposal. Furthermore,
the minimum salary is set to rise again next year, reaching LKR 30,000.
Link: https://tinyurl.com/mr7mucfx

📰 Sri Lanka Customs vies LKR 2,250 billion revenue for 2025
The Sri Lanka Customs Department is aiming for an unprecedented revenue target of LKR 2,250
billion for 2025, calling it an ‘attainable reality.’ With the highest revenue goal in the
Department’s history, this ambitious target follows a near 60 percent revenue surge in 2024
with a record-breaking collection of LKR 1,535 billion, up from LKR 975 billion in 2023.
Link: https://tinyurl.com/yc76emya

📰 Cabinet approves draft Bill to amend Electricity Act
The Cabinet of Ministers approved the preparation of a draft Bill to amend the Electricity Act
No. 36 of 2024, following recommendations from a specialists’ committee appointed by the
Ministry of Power.
Link: https://tinyurl.com/5n96bt59

📰 Government eases loan restrictions for struggling SMEs
The Ministry of Finance has introduced a new solution for small and medium-sized enterprises
(SMEs) that have defaulted on loans up to the third phase of restructuring. Under the new plan,
they can now apply for additional loans with recommendations from the Institute of Chartered
Accountants and the Ministry of Industries. Deputy Finance Minister Harshana Suriyaapperuma
confirmed that LKR 5 billion from this year’s budget will be allocated to SMEs within the next
nine months, prioritizing those that contribute to the national economy.
Link: https://tinyurl.com/2s3xpexw

⁉ What you need to know
📰 WRAP validates reputation of Sri Lanka’s apparel industry
Sri Lanka’s apparel industry has earned praise from Avedis Seferian, President and CEO of
WRAP, for its strong commitment to ethical manufacturing and steady progress in integrating
ESG standards. He commended the sector’s long-standing focus on social compliance, worker
well-being, and environmental responsibility.
Link: https://tinyurl.com/dvyy459e

📰 MAS Athlete Training Academy supports Sri Lanka’s rising athletes
The MAS Athlete Training Academy reaffirmed its commitment to nurturing Sri Lanka’s sporting
talent at a sponsorship ceremony held on 31 March at the Sri Lanka Olympic House. The event
marked the presentation of sports gear and per diem sponsorships to athletes and coaches
selected to represent the country at the Asian Under-18 Athletics Championships in Dammam,
Saudi Arabia, in April 2025.
Link: https://tinyurl.com/cnctkxff

Disclaimer – This Advisory is intended for circulation among JAAF stakeholders only. Please do
not circulate or share on social media.The Advisory includes economic, political, social and
governance perspectives. It draws on news reports, analyses, Government announcements and
documents, and other sources that we may be in contact with or have access to. This Advisory
was prepared by the Strategic Communications Unit of Adfactors PR Lanka. For inquiries,
contact sarah.muiz@adfactorspr.com