ISDS Case Map
Sri Lanka
The United States warned Sri lanka against banking on a quick free trade deal to fix its economic woes and urged the island to restore peace and open its markets.
A free trade agreement between Sri Lanka and the U.S. isn't a certainty and even if it does happen, it isn't guaranteed to solve the country's trade difficulties, the U.S. ambassador to Sri Lanka said Tuesday.
Threatened with virtual closure of domestic Vanaspati industry, manufacturers for the first time will resort to workers-type-demonstration, staging a march to the Parliament, as a protest against import of Vanaspati on zero-tariff from Sri Lanka under Free Trade Agreement (FTA) that rendered the local production uncompetitive.
Pakistan is going to hold secret talks to make some changes in the existing Free Trade Agreement (FTA) with Sri Lanka, which has been operational since June 2005. Pakistan fears that under the FTA, Indian products can enter its market through Sri Lanka, particularly automobile parts.
Duty-free imports of vanaspati from Sri Lanka under the free trade agreement (FTA) is likely to be capped at 2,50,000 tonne. Vegetable oils and vanaspati (hydrogenated vegetable oil) will be kept out of the purview of any FTAs which India is likely to sign with any country in future.
With the start of free trade agreement between Pakistan and Sri Lanka, the annual trade volume between the two countries was likely to double within the first year due to the increase in trade in tea, textiles, betel leaves and other items.
Sri Lanka's Commerce Department says all recently started trade negotiations will go on hold over the rest of the year, until priority commitments are sorted out.
The Bangladesh commerce ministry is going to consultants to run a study to identify the benefits and possible risks of signing any bilateral trade agreement (FTA) with neighbouring countries.
Indo-Sri Lanka Free Trade Agreement favourable to Lanka and exports to India increased in many folds
The purpose of India-Sri Lanka CEPA is to widen and deepen their bilateral FTA.
India's vanaspati industry, already plagued by excess capacity, has been cast into deeper gloom lately by trade agreements that have opened the way for cheaper imports from neighboring Sri Lanka and Nepal.
