Thailand - Sri Lanka FTA to be inked in February 2024
November 21, 2023 03:19 pm
The proposed Sri Lanka - Thailand Free Trade Agreement (SLTFTA) is planned to be signed on 03 February 2024, Cabinet Spokesman, Minister Bandula Gunawardena said during the Cabinet press conference held today (21).
Signing of the FTA will follow the completion of the multiple rounds of discussions by December 2023, according to the Gunawardena.
In concurrence with the agreements entered at rounds 06 and 07 of the said discussions, the Cabinet of Ministers has decided to grant approval to the customs levy releasing programme of Sri Lanka.
The programme had been prepared to enable the release of 80% of the combined categorized serial numbers within a period of 15 years based on the combined categorized serial numbers of 2022, to partially release 5% of the combined categorized serial numbers within a period of 15 - 18 years, and to include the remaining 15% of the combined categorized serial numbers to the minus list, when President Ranil Wickremesinghe submitted the same for their consent.
The island nation has been renewing its focus on trade deals to foster growth and help its battered economy recover from the worst financial crisis in decades.
