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
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.
Sri Lanka aims to finalise a free trade agreement (FTA) with China later this year, said the country’s ambassador to Beijing
Sri Lanka is keen to establish a tripartite arrangement for trade and investment with India and Singapore, Deputy Minister for Foreign Affairs Harsha de Silva has said.
Sri Lanka and Bangladesh have discussed signing a free trade agreement between the two countries
Negotiations have become tougher and tougher as both sides are keen on clinching a good deal without unrealistic compromises.
Senior officials of India and Sri Lanka will meet to discuss broadening of the existing trade deal by including services and investments.
While India is looking at the Economic and Technical Cooperation Agreement as a mechanism to increase Indian investment in Sri Lanka, the Sri Lankan government is wanting to use ETCA to become part of the Indian supply chain
China after having successful free trade agreement with Pakistan, now agreed to reach similar arrangements with Sri Lanka for free trade regime.
When talking of economic development, foreign investments could be easily defined as a major portion of the base foundation of a country’s economy. In the modern era, countries extend their partnerships with the counterparts by initiating various investment strategies and by opening up their local markets and industries for global investors.