Sri Lanka and India negotiating on bilateral investment treaty: report
Economy Next - 27 February 2024
Sri Lanka and India negotiating on bilateral investment treaty: report
Sri Lanka and India is working on a bilateral investment treaty, a media report quoted High Commission Santosh Jha as saying.
The investment treaty is separate from an Economic and Technological Co-operation Agreement which is also under discussion, Jha was quoted as saying by Bloomberg Newswires.
Discussion on the ETCA, are at an advanced stage, the report said.
The ETCA will address the issues like non-tarriff barriers.
Under the Indo Lanka Free Trade Agreement India has become the third largest export destination. In 2023 Sri Lanka exported 829 million US dollars of goods to the country, just behind UK at 846 million US dollars.
It also has to ensure that Lanka does not become a conduit that other countries can use to push finished goods into India.
