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 key objective of ETCA is to resolve the implementation issues on the existing free trade agreement with India.
The arrangement will establish regular senior officials’ talks to facilitate trade and investment.
If one analyses the costs and benefits then it isn’t that difficult to realize that ETCA is a decision by one country and the other is just obeying.
Sri Lanka is likely to sign a Free Trade Agreement with Singapore in October as the island country looks to attract more foreign investments
Sri Lankan industrialists have voiced concern over a proposed free trade agreement with China and government plans to reduce import tariffs that protect them, saying they feared they might not be able to compete.
Dhaka has been negotiating the FTA with Colombo since 2013 to increase trade now worth $80 million every year.
Sri Lanka is closing in on a Free Trade Agreement (FTA) with China after ending the sixth round of negotiations on trade in services with senior officials hopeful that the deal could be concluded soon.
Discussions on the proposed Sri Lanka-Malaysia free trade agreement have advanced into the scoping stage.
Sri Lanka expects to deepen existing FTA with India and to sign a FTA with Singapore and another with China. Sri Lanka also hopes to talk to Japan, Indonesia and other ASEAN countries with regards to FTAs.
Fear of economic domination by the ‘Big Brother’ has replaced the earlier fear of political and military dominance.