Sri Lanka, Aug. 1 -- Sarvajana Balaya leader MP Dilith Jayaweera emphasised the need for Sri Lanka to diversify its export basket and to engage in regular and comprehensive dialogue with trade partners such as the US as a post-crisis management strategy.

Referring to the modification of the U.S. tariff rates earlier today, the parliamentarian hailed it as "positive progress", from the 44% reciprocal tariff announced on April 02.

"As I shared with the President, during the party leader meeting, as a post-crisis management strategy we need to engage in regular and comprehensive dialogue," he said, adding that it is a position he always maintained, "primarily to pre-empt this kind of shock in the first place."

"As we receive this positive...