Press briefing of Cabinet Decision taken on 2023-02-27

Proposed Preferential Trade Agreement with Bangladesh

- Enhancing market access opportunities for Sri Lankan exporters by removing current trade barriers, attracting investments to address the concerns of the domestic supply and enhancing economic cooperation are the main objectives that are expected to achieve through strengthening connectivity with the main regional trading partners. The Cabinet of Ministers at its meeting held on 2021‑06‑14 granted approval to enter into a Preferential Trade Agreement between Sri Lanka and Bangladesh in parallel. It has been identified bilateral trade can be further enhanced by entering into a Preferential Trade Agreement with Bangladesh can further enhance beyond existing trade agreements. Accordingly, the proposal made by the Hon. President to expedite the negotiations on the proposed Preferential Trade Agreement with Bangladesh, on the guidance of the International Trade Office, was granted by the Cabinet.