Former Sri Lankan President Ranil Wickremesinghe has stated that the US market will no longer be accessible to Sri Lanka due to new tariffs imposed by the US. He proposes that Sri Lanka should sign the ETCA agreement with India as a solution to the current situation.
In an interview with Indian media, the former President mentioned that he had intended to sign the agreement in 2025, during his presidency. He emphasized that Sri Lanka must now proceed with the ETCA agreement, given the shift in US trade policy and the uncertainties surrounding trade with the European Union.
Wickremesinghe further stated that Sri Lanka needs to explore new areas beyond apparel exports and diversify its products to access new markets.