Sri Lanka will join the Regional Comprehensive Economic Partnership Agreement (RCEP) and enter Free Trade Agreements (FTA) with Association of Southeast Asian Nations (ASEAN) countries after debt restructuring is complete.
Sri Lanka plans to complete free trade talks with Thailand by February and sign an agreement in March, Sri Lanka's cabinet spokesperson said, as part of an effort to expand trade as it emerges from economic turmoil.
Sri Lanka's cabinet has approved a proposal to enter into a preferential trade agreement with Indonesia as a preliminary step to reach a long-term free trade agreement.
Sri Lanka has launched a fact-finding mission to explore avenues for an early entry into the Regional Comprehensive Economic Partnership free trade agreement, a statement from the foreign ministry said .
ASEAN Secretary-General Kao Kim Hourn on Wednesday met with the Sri Lankan presidential secretariat, led by the president’s senior economic adviser Dr. R.H.S. Samaratunga, in Jakarta.
Sri Lanka and Bangladesh plan to hold an introductory meeting virtually on 29th of this month to commence negotiations for the proposed preferential trade agreement (PTA), which is expected to eventually lead to a free trade agreement (FTA).
Thailand wants to conclude free-trade agreement (FTA) talks with the European Free Trade Association (Efta), Sri Lanka and the United Arab Emirates (UAE) by the middle of next year to improve trade and and investment.
Critics argue that the deal would be heavily skewed in favour of China, leading to a flood of cheap Chinese goods into Sri Lanka and undermining the country's domestic industries.
The fourth round of negotiations on the proposed Sri Lanka-Thailand Free Trade Agreement (SLTFTA) was held to increase Sri Lankan exports’ access to the Thai market and to reduce existing non-tariff barriers.
Sri Lanka’s cabinet of ministers has approved a proposal to fast-track a free trade agreement with Thailand in the hopes of increasing exports to the Asian nation.