Sri Lanka, June 8 -- The Ceylon Freight and Logistics Association expressed grave concern over the adverse impacts of ongoing global geopolitical conflicts on the island nation's economy, calling for urgent structural changes to safeguard the local logistics and shipping industry.

Speaking on the current crisis, Association President Mario Fonseka, alongside Secretary Inam Caffoor, highlighted the pressing need to make Sri Lanka a more competitive global market. They emphasised that retaining international shipping lines requires an immediate reduction in service charges, noting that competitive global hubs routinely benchmark and levy these service fees in US Dollars.

The Association holding a media briefing recently pointed out that c...