Sri Lanka and China to recommence negotiations on a free trade agreement
Sri Lanka and China have reportedly held discussions on the recommencement of negotiations on the proposed Sri Lanka-China Free Trade Agreement (FTA) in Beijing.
The matter was discussed in a meeting between Sri Lanka’s Minister of Development Strategies and International Trade Malik Samarawickrama and Vice Minister of Commerce of China Wang Shouwen in Beijing last week, a press release from the Development Strategies and International Trade Ministry has stated.
Apart from the FTA, the discussions had focused on strengthening bilateral trade ties and opportunities to boost Sri Lankan exports in China, resolving of key trade facilitation issues as well as the attracting of export-oriented manufacturing investments from China to Sri Lanka.
Minister Samarawickrama had appraised the Chinese delegation of the ongoing trade and investment reforms in Sri Lanka, and reiterated the Sri Lankan Government’s commitment to trade liberalisation.
OSL take:
The recommencement negotiations on the Sri Lanka-China FTA will add to the many trade agreements and preferences received by Sri Lanka from key global markets. China is one of the key financial donors to Sri Lanka and plays a prominent role in the island’s development programme. Foreign businesses/investors keen on doing business with China could explore the possibility of doing so through Sri Lanka. Also, Chinese companies could explore opportunities to do business in Sri Lanka and also form partnerships with local companies and vice versa.
| Article Code : | VBS/AT/08072019/Z_2 |