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
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 and Thailand have expressed hope to revive talks on a free trade deal, after two rounds of negotiations.
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.
Poland is keen to enter into a Free Trade Agreement with Sri Lanka, but it has to be initiated by the European Union office in Colombo.
Sri Lankan International Trade Minister plans to hold ministerial-level discussions with Indian counterparts during his visit to India this week, in order to resume trade negotiations.
Chinese trade with the island nation is booming even while Indian trade seems stuck. The recent rise of China-Sri Lanka economic relations has been the subject of much discussion, debate, and analysis.
The assessments are done for the four proposed FTAs namely, ETCA with India, Singapore-Sri Lanka FTA, Thailand-Sri Lanka FTA, and China-Sri Lanka FTA.
Sri Lanka and China have agreed to resume the stalled free trade agreement (FTA) negotiations.