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
By having preferential access to the two major markets in South Asia - India and Pakistan - Sri Lanka can now position itself as the conduit for Indo-Pakistan trade that has diminished due to political problems centred around the Most Favoured Nation treatment.
The United States warned Sri lanka against banking on a quick free trade deal to fix its economic woes and urged the island to restore peace and open its markets.
A free trade agreement between Sri Lanka and the U.S. isn’t a certainty and even if it does happen, it isn’t guaranteed to solve the country’s trade difficulties, the U.S. ambassador to Sri Lanka said Tuesday.
Sri Lanka’s Commerce Department says all recently started trade negotiations will go on hold over the rest of the year, until priority commitments are sorted out.
A Sri Lanka-Pakistan Free Trade Agreement will come into effect next month, Sri Lanka’s trade minister said Friday, in a deal expected to double the amount of trade between the two.
Sri Lanka and Iran signed a preferential trade agreement and several memoranda of understanding yesterday at the Islamic Republic Mansion in Tehran, the Office of the President said.
Sri Lanka will enter into a free trade agreement with Egypt in January next year.
Sri Lanka and Pakistan are hoping to have another go at the belated free trade agreement between the two countries in November.
India and Sri Lanka are on the threshold of a Comprehensive Economic Partnership Agreement (CEPA), Sri Lankan Minister of Trade, Commerce and Consumer Affairs, Jeyaraj Fernandopulle said Friday.
Sri Lankan Minister of Trade and Commerce and Consumer Affairs, Jeyaraj Fernandopulle concluded his four day visit to the US moving forward the bilateral trade and investment agenda.