Signing of the Sri Lanka-Thailand Free Trade Agreement : Cabinet announcement
Development of supply capacity, attracting export-oriented foreign direct investment and expanding international market access for Sri Lankan goods and services have been identified as strategies that areessential to Sri Lanka’s economic growth.
Accordingly, the Cabinet of Ministers has given approval on 16.01.2018 to start negotiations to enter into a free trade agreement with Thailand, which is one of the largest economies and the largest foreign investor in the Association of Southeast Asian Nations.
The National Trade Negotiations Committee has also exchanged views with all relevant local stakeholders during the negotiation process. After nine rounds of discussions between the two sides, a complete 14-chapter draft Free Trade Agreement was prepared, including the preamble and annexes, to improve trade and investment, compliance with local laws and regulations and facilitating knowledge sharing.
The clearance of the Attorney General and the agreement of the Ministry of Foreign Affairs have also been received for the same.
Accordingly the Cabinet of Ministers approved the proposal presented by the President to sign the proposed at agreement between two parties.