Sri Lanka – Thailand FTA given Cabinet nod

Cabinet approval has been granted to move forward with the proposed Sri Lanka-Thailand Free Trade Agreement, Cabinet Spokesman Mass Media Minister Dr Bandula Gunawardena said.

He was speaking at the weekly cabinet media briefing held yesterday at the Government Information Department. The ninth round of negotiations on the Proposed Sri Lanka-Thailand Free Trade Agreement was held in Colombo from December 18, 2023 to December 20, 2023.

The relevant discussions have been concluded by now. Legal and institutional issues have been referred to working groups for legal scrutiny.

In the 9th round of negotiations, the two sides agreed to include provisions for the simultaneous elimination of 50 percent of the cumulative duties applicable on the Harmonized System classification codes classified in the Sensitive List of the Tariff Liberalization Programme at the beginning of the 16th year from the date of entry into force of the Agreement.

Accordingly, both sides have agreed to reduce the duration of the Tariff Liberalization Programme from 18 years to 16 years in the 9th round of negotiations.

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