Sri Lanka negotiates more trade, investment deals

Lanka Business | 31 January 2008

Sri Lanka negotiates more trade, investment deals

Jan 31, 2008 (LBO) - Sri Lanka is negotiating more free trade and investment deals with other countries to increase trade and foreign investment, the Foreign Affairs Ministry said Thursday.

Two rounds of talks were held in January with neighbours India and Pakistan on free trade and investment agreements while the first negotiations on an investment promotion and protection agreement with Kuwait was concluded in Colombo on January 30.

The Sri Lanka - Kuwait negotiations will be followed by negotiations on a Sri Lanka - Jordan Investment Promotion and Protection Agreement, from 6-7 February 2008, the Foreign Ministry said in a statement.

"Since the commencement of the year 2008, Sri Lanka has been actively engaged in a series of negotiations in trade and investment agreements with key countries from within and outside the region."

The 11th round of technical level negotiations with India on the proposed Comprehensive Economic Partnership Agreement (CEPA) between Sri Lanka and India was held during January 2 - 4 in Colombo.

The second review meeting of the Pakistan - Sri Lanka free trade deal and first round of technical level talks on a Comprehensive Economic Partnership Agreement with Pakistan was held on January 24 - 25 in Colombo.

Sri Lanka has so far concluded over 26 investment promotion and protection agreements designed to create a conducive legal environment to generate the flow of foreign capital, the statement said.

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