Press briefing of Cabinet Decision taken on 2023-02-13

Third Round of Negotiations of the Sri Lanka - Thailand Free Trade Agreement held in Colombo during 09th and 10th January 2023

- Preliminary work has been started in the year 2016 to embark a Free Trade Agreement between Sri Lanka and Thailand with the expectation of increasing the existing bilateral trade value of US$ 550 million to US$ 1.5 billion through strengthening the economic corporation of two parties in number of sectors thereby recognizing the economic potentials and complementary economic structures which can be further improved. Accordingly, approval of the Cabinet has been granted at its meeting held on 2018‑07‑03 to commence negotiations of the proposed Sri Lanka Thailand Free Trade Agreement covering Goods, Rules of Origin, Services, Investment, Economic Cooperation, Trade Remedy, Custom Procedures and Trade Facilitation and Intellectual Property. The first round of negotiations was held in July 2018 in Sri Lanka and the second round of negotiations has been held in September 2018 in Bangkok, Thailand. Its third round of negotiations has been held in 09th and 10th January, 2023 at Colombo and the information furnished by the Hon. President in his capacity as the Minister of Finance, Economic Stabilization and National Policies on the progress of those negotiations was noted by the Cabinet.