RSS   Newsletter   Contact   Advertise with us

Sri Lanka-China trade deal under negotiations

Staff writer ▼ | August 25, 2014
Sri Lanka and China would soon commence negotiations on the proposed joint Free Trade Agreement (FTA) between the two countries but no date for the signing of the pact has been scheduled, an official said.
Sri Lanka
Talk to continue   No firm date is known yet
The two countries would be conducting negotiations that was expected to commence at the earliest having concluded the joint feasibility study, Commerce Department Director General R.D.S. Kumararatne told the Business Times.

However, authorities were unable to confirm exact dates for the signing of the agreement though Investment Promotion Minister Lakshman Yapa Abeywardena said this week that the two countries were likely to sign the trade pact during the Chinese President Xi Jinping’s scheduled visit to Colombo next month.

Mr. Kumararatne noted that the target was to complete negotiations and discussions as soon as possible and in this respect was likely to sign the FTA by the end of this year or even early 2015. He noted that during the conduct of the feasibility study the two sides had identified in Sri Lanka apparel, rubber, coconut, tea, ceramic and porcelain as priority sectors.

Mr. Kumararatne explained that they were yet to work out a definite area in terms of the services sector and during the study they had looked at the prospects for trade.