Stocks traded higher at the Colombo Stock Exchange, closing 0.81 percent stronger at the end of trade on Friday backed by export sector stocks on hopes of Sri Lanka reaching a deal with Washington on tariffs soon, market analysts said.
The broader ASPI closed 126.41 points stronger at 15,742.04, while the more liquid S & P SL20 stocks rose 0.60 percent, or 27.80 points to close at 4,632.51. According to a senior minister, an agreement on reciprocal tariffs is expected to be reached with Washington soon. Deputy Minister of Economic Affairs Prof. Anil Jayantha Fernando said, “We hope to reach an agreement with the US which is impressed with the interest shown by Sri Lanka to make a deal.”
A delegation led by Deputy Minister of Finance and Planning, Dr. Harshana Suriyapperuma held discussions on tariffs and investments in Washington last week.
The Government is expected to issue a statement on the talks soon, according to Government sources.
The United Sates imposed sweeping tariffs on all its trading partners a fortnight ago while slapping a 44 percent tariff on all exports from Sri Lanka though paused temporarily. – LF
