Sri Lanka and Thailand are making rapid progress in the negotiations for the proposed Sri Lanka – Thailand Free Trade Agreement. The latest update from the President Ranil Wickremesinghe indicates that the negotiations are expected to be concluded by February 2024, with the signing of the agreement set to take place in March 2024, in accordance with the jointly agreed action plan.
In a bid to foster stronger economic ties and bolster trade opportunities, Sri Lanka and Thailand have successfully concluded the fifth round of negotiations on the proposed Sri Lanka – Thailand Free Trade Agreement. The intensive discussions, held in Colombo from 26th to 28th June 2023, covered crucial aspects of the agreement, including customs cooperation, trade facilitation, economic cooperation, as well as sanitary and phytosanitary measures.
The negotiations, led by representatives from both nations, have been marked by constructive dialogue and a shared commitment to enhancing bilateral trade relations. During the latest round of talks, the delegations made significant progress in addressing key issues, paving the way for future collaboration and mutual benefits.
The President, presenting the progress update on the fifth round of negotiations to the Cabinet of Ministers, expressed optimism regarding the timeline for concluding the agreement. It is anticipated that the negotiations will be finalized by February 2024, and both nations are eager to sign the Free Trade Agreement by March 2024, as per the agreed-upon action plan.