Sri Lanka and China to conclude FTA by March 2017

malik samarawickramaSri Lanka and China hope to conclude discussions on the Free Trade Agreement (FTA) by March 2017, Minister of Development Strategies and International Trade Malik Samarawickrama said today.

He said that a Chinese Government delegation is due in the county next week to have further discussions on the deal.

The Minister said that the proposed FTA mainly looks at the apparel sector, tea, gem and jewelry, rubber, coconut and spices.

Samarawickrama also said that talks are underway to establish a special investment zone in which Chinese investors will be allocated 15,000 acres of land.

The Minister said that the Government is in the process of identifying suitable land for the investment zone.

Apart from China, Sri Lanka is also in talks with India and Singapore to sign an FTA, the Minister said.

He said the Government will soon have a trade policy under which all trade agreements with foreign countries will be signed.

The opposition has raised concerns over the trade deals Sri Lanka is negotiating, particularly with India, but Samarawickrama said that the draft of all trade agreements will first be put before parliament before it is signed.

He also said that a draft on the trade agreement with India has been prepared by Sri Lanka and it will be made public soon.

The Minister said the trade agreement with India will mainly cover the automobile and pharmaceutical industries. (Colombo Gazette)

1 COMMENT

  1. Malik .S…and Ranil w.. of UNP orthodox Christian democracies has to know ,first of you should stop that anti- China policy and learn principle of Free Trade in Globe by reading WTO manual enacted in 1995 Moroccan. WTO manual is Bible of World Trade !
    That book should be hand book of Malik Samarwickrama, who talk of Free Trade with China and Indian .
    The total volumes of two countries GDP account of (China and India) comes more than US $ 16 Trillions Dollars. The related deal of Free Trade of Commodities are huge in every terms of transaction, in more complex and completed in trade terms are concern.

    Well, dealing of two nation with such two countries that our manpower and thinking tanks must be quite rational and fully skilled on Trade and investment. I am for Free Trade with two nations.
    Sorry to say that Malik S.. himself incomplete in ongoing issue of Free Trade that he needs more facts to study by himself.

    Ours teams Free Trade are lack of knowledge and their not ready even including Kelaga’s are NOT having sufficient knowledge which an enough to meet such huge task undertaken by themselves , and Govt. UNP leaders of “Good Governances on Free Trade “.

    The Two of that UNP leaders are still in immaturity of Free Trade Agreements and Business of Free Trade in Globe. Your advisers are still looking backward due to their ethnics roots. Some of your newly appointed advisers are for capitalism that only for Tamils. This not working for Free Trade Business or Barrier Free Trade in the case of Sustsnibility of capitalism in Globally been new growth of Trade and Investment economic phenomenal.

    Malik. S… has know that Singhoporean path of Capitalism and its model working for Protecting Trade and Investment ,that not an Open for broad trading segment in South Asian Region. We have get out from York of Singhoporean path and model of Capitalism, first FREE from bond of foreign line of thinking before join the FREE Trading System is advice I can give to Malik ……[email protected]

LEAVE A REPLY

Please enter your comment!
Please enter your name here