Lee hopes Singapore-Lanka FTA can wrap up in 2017

The Sri Lanka-Singapore Free Trade Agreement (SLSFTA) will hopefully be completed this year, Prime Minister Lee Hsien Loong said in a Facebook post today, Channel News Asia reported.

Lee expressed his hopes in a post stating he had dinner with Sri Lankan counterpart Ranil Wickremesinghe and his wife on Friday night. The latter had stopped over in Singapore on the way home from an official visit in Australia, he added.

“He invited me to visit Sri Lanka – hopefully to sign the FTA!” Lee wrote.

Minister for Trade and Industry (Industry) S Iswaran had said last July when the agreement to start talks was signed that Sri Lanka offers good potential for Singapore companies looking to tap opportunities in new markets.

He added that several companies here had already expressed their interest in areas such as urban planning, infrastructure planning and development in the tourism sector and also in certain aspects of manufacturing.

Bilateral trade between the two countries was S$2.05 billion in 2015, according to MTI, with local exports totalling S$1.9 billion that year, while Singapore’s imports totalled S$146 million. (Colombo Gazette)

1 COMMENT

  1. We want expanding trading many countries ,but with ongoing Indian FTA is totally fail ,is has be review so soon.

    We as nation lost billions of Rupees by Indian FTA due to that become Indian one-sided trade that policies operate against WTO rules by India.

    We do not want do same thing happen with Singapore and Sri lanka.
    Without in depth study of Trade by Sri Lankan side the our nation having reasonable suspicion of that proposed FTA will undermined country Economic Sovereignty by Govt. of Singapore.

    There are two reasons

    1 2015 January CHANGE OF GOVT, THAT SINGAPORE HAS BEEN POLITICALLY INVOLVED WHICH THAT UNDERMINED COUNTRY LONG-STANDARED DEMOCRCAY.
    Hence Singapore is country rule by One Party politics ,it has no democracy by Li-Kuwan Party that type of politics having bad influence to ours Democracy.
    We Sri Lankan are that nation DO NOT to followed Singapore path and model of political-economic -social order.

    2 Singapore citizens are nakedly involved Central Bank Bond scam that looted public funds by collaboration with local political parties ,majority Sri Lankan lost confidence with govt.of Singapore and their citizens.

    There are many key hurdles has to be clear by govt. Singapore and Sri Lankan.

    Until such key issues are NOT clear is quite impossible to agreed for FTA between two countries within this year 2017.

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