Xinhua Net - 11 July 2023
Sri Lanka cabinet approves proposal on preferential trade agreement with Indonesia
Sri Lanka’s cabinet has approved a proposal to enter into a preferential trade agreement with Indonesia as a preliminary step to reach a long-term free trade agreement, a statement from the government information department said on Tuesday.
The statement said that Indonesia has been identified as a trade partner with suitable potential to build profitable trade relations for Sri Lanka.
Earlier, Sri Lanka launched a fact-finding mission to explore avenues for an early entry into the Regional Comprehensive Economic Partnership (RCEP) free trade agreement, as announced by the foreign ministry in June.
A team of senior officials of the Sri Lankan government concluded the mission to Jakarta, Indonesia on June 12-14, and Sri Lanka’s strong interest in entering into RCEP was well received by the Association of Southeast Asian Nations (ASEAN) Secretary-General Kao Kim Hourn, and a number of ambassadors of RCEP members in Jakarta, said the ministry.