Sri Lanka, Indonesia launch negotiations for Preferential Trade Agreement

March 15, 2024 08:44 am

Sri Lanka and Indonesia officially kicked off the negotiations for the Preferential Trade Agreement (PTA) on Thursday (March 14).

The negotiations were formally launched by Sri Lanka’s State Minister of Foreign Affairs, Tharaka Balasuriya and Indonesia’s Vice Minister of Trade, Jerry Sambuaga in a virtual meeting.

The ministers have conveyed that the commencement of the Sri Lanka-Indonesia PTA negotiations would serve as a step towards a Free Trade Agreement (FTA).

They agreed that both countries are keen to strengthen bilateral trade relations and achieve meaningful market access under the proposed PTA.

Balasuriya and Sambuaga said they are hopeful that the PTA negotiations would be conducted expeditiously and agreed that the first round of negotiations will commence at the earliest mutually agreed date.

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