Press briefing of Cabinet Decision taken on 2017-06-20

Negotiations on New Free Trade Agreements with China, Singapore and India

- Entering into free trade agreements is one of the best ways to open up foreign market exports and to attract foreign investment for priority fields. In accordance with the recommendation of the Cabinet Committee on Economic Management, Sri Lanka is presently engaged in negotiations with India, China and Singapore for entering into free trade agreements. Accordingly, to date, Sri Lanka has concluded 04 rounds of negotiations with India, 06 rounds with China and 05 rounds with Singapore and has planned to conclude the negotiations by the end of this year.

The facts included in the Report presented to the Cabinet by Hon. Malik Samarawickrema, the Minister of Development Strategies and International Trade, on the current progress made with regard to the scope of negotiations on free trade agreements to be entered into with India, China and Singapore covering the sale of goods, services, investments, protective methods for sanitary and phyto sanitary material, customs procedures and trade facilitation, economic collaboration and government procurement procedures (pertaining to negotiations with Singapore) was noted by the Cabinet.