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Saturday, April 1, 2023

Thailand and Sri Lanka will conduct a new round of FTA talks

This week in Colombo, Thailand and Sri Lanka will resume negotiations on a free trade agreement (FTA).

According to the Sri Lankan President’s Media Division (PMD), 26 Thai representatives will attend the January 9 and 10 meetings.
This was confirmed by the Director-General of Thailand’s Department of Trade Negotiations, Auramon Supthaweethum.

The focus of the discussions will range from commodities, services trade, and investments to rules of origin, customs cooperation, trade facilitation, and economic cooperation.

The talks were scheduled to take place in 2018, but they were postponed for four years due to the worldwide pandemic and the continuing reorganization of government entities in Sri Lanka.

The Thai committee is anticipated to negotiate bilateral trade rules, such as restrictions on the origin of products, service standard, investments, customs, and trade facilitation, during the negotiations.

Sri Lanka purchased commodities worth $355 million from Thailand and exported items worth $59 million to the country in 2021, according to the PMD.
In the previous year, Thailand exported $253 million worth of commodities to Sri Lanka and received $81 million worth of goods from the nation.

Author: annie

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