Lanka moves to expand India FTA
Sri Lanka is to explore expanding its existing Free Trade Agreement (FTA) with India, with a committee of officials already appointed by the Cabinet of Ministers to pursue the initiative. Presenting the 2027 Budget in Parliament, President Anura Kumara Dissanayake said the Government was working to update existing trade agreements and enter into new agreements […]
Sri Lanka is considering broadening its existing Free Trade Agreement (FTA) with India, as a dedicated committee of government officials has been formed to pursue this goal. In his 2027 Budget presentation, President Anura Kumara Dissanayake revealed that the administration is actively seeking to revise current trade pacts and forge new agreements with nations worldwide to enhance Sri Lanka’s trade connections on the global stage.
The committee was specifically tasked to assess the potential expansion of the existing FTA with India. Furthermore, Sri Lanka is also investigating the possibility of establishing a new FTA with China, alongside an application for membership in the Regional Comprehensive Economic Partnership (RCEP). The Government is also anticipated to negotiate Comprehensive Economic Partnership Agreements (CEPAs) with the United Arab Emirates (UAE).
Simultaneously, a Sri Lanka–European Union Sustainable Trade and Economic Integration Project is slated for implementation in 2027, with financial support from the EU totalling Rs. 3,430 million. This project seeks to bolster export competitiveness, diversify Sri Lanka’s export portfolio, and promote environmentally sustainable production practices, all while fortifying trade ties with the European market.
President Dissanayake announced that the Government will also look into new FTAs with additional countries following thorough feasibility assessments.
Written by urgent.news from The Island Sri Lanka's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
