Press briefing of Cabinet Decision taken on 2023-06-26

Accession to the Regional Comprehensive Economic Partnership Agreement

- The Free Trade Agreement which is jointly implemented by ten (10) member countries of the Association of Southeast Asian Nations (ASEAN) and five (05) other regional countries viz Australia, China, Japan, South Korea and New Zealand that have already entered into Agreements with the member countries of the said Association, is known as the Regional Comprehensive Economic Partnership (RCEP). Sri Lanka could reap many economic and other benefits by joining with the said Agreement. Accordingly, the proposal made by the Hon. President to authorize the Secretary to the President to submit a formal Letter of Intent to join the RCEP, was approved by the Cabinet.