Sri Lanka has preferential and free trade agreements with India, Pakistan, Iran, Egypt, Singapore and Israel. It is currently in the processing of upgrading its agreement with India to a much more comprehensive one.
Sri Lanka is also party to SAFTA, the agreement on a South Asia Free Trade Area, as well as BIMSTEC, which aims to hammer out a regional FTA.
last update: May 2012 Photo: Sri Lankan engineers' association
The balance of trade between the Srilanka and China has been heavily in favour of China. the Srilanka government has decided to revisit the proposed free trade agreement (FTA) with China.
Dhaka has expressed its keen interest to sign a free trade agreement (FTA) with Colombo to exploit the huge potential of bilateral trade between Bangladesh and Sri Lanka.
The Economic and Technology Cooperation Agreement (ETCA) with India is among the bilateral trade agreements to be reviewed by the Sri Lankan government to decide on the next step, a Minister said.
Sri Lanka has given the nod for the Ministry of Trade to examine ways of re-negotiating existing free trade agreements and enter into new ones, the government said.
Sri Lanka’s apex investment promotion body, Board of Investment (BOI), is eyeing five new trade agreements with key trading partners—Japan, China, European Union (EU), United States and United Kingdom (UK)— over the next three years.