LNP – Sri Lanka and China agree on early conclusion of comprehensive FTA

Sri Lanka and China have agreed to work towards the early conclusion of a comprehensive Free Trade Agreement (FTA) in “one package” in line with the principles of equality, mutual benefit and win-win outcomes.

In a joint statement issued by both countries during Sri Lanka’s President Anura Kumara Dissanayake’s state visit to China, the two sides expressed satisfaction with the progress of bilateral cooperation in economy and trade.Â

Sri Lanka has expressed appreciation to China for its effort to promote import from Sri Lanka through various means, the statement said.Â

China expressed its readiness to continue supporting Sri Lankan enterprises in the tea, gem and other industries in establishing ties with relevant Chinese associations of importers and exporters, facilitate Sri Lanka’s participation in expos such as the China International Import Expo, China Import and Export Fair, China-South Asia Exposition and e-commerce platforms, and further enhance cooperation between enterprises of the two countries on the basis of mutual benefit and win-win outcomes.Â

“The two sides agreed to work toward the early conclusion of a comprehensive free trade agreement in one package in line with the principles of equality, mutual benefit and win-win outcomes,” it said.Â

Sri Lanka has welcomed more business investment from China and has vowed to provide a conducive investment and business environment for this purpose.Â

China says it will continue to encourage Chinese enterprises in investing in Sri Lanka to facilitate economic transformation and sustainable development in Sri Lanka.Â

The two sides also agreed to expand cooperation in such fields as logistics, green development, and digital economy to propel their high-quality and mutually beneficial practical cooperation, the joint statement added.