Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka-China free trade agreement to be completed before end of year
Thu, Jan 23, 2014, 09:57 pm SL Time, ColomboPage News Desk, Sri Lanka.

Jan 23, Colombo: A proposed Sri Lanka-China Free Trade Agreement (SLCFTA) aimed at boosting bilateral trade between the two countries will materialize before the end of this year, a Chinese official has said Thursday.

Wang Yingqi, commercial counsellor of the Chinese embassy in Sri Lanka has said that the feasibility study on the highly-anticipated trade agreement is underway and due to be completed by March this year.

The Chinese official has expressed confidence in finalizing the landmark agreement before end of 2014, Xinhua reported.

According to Wang the SLCFTA would help bring bilateral trade with Sri Lanka to similar levels the country has with the Association of Southeast Asian Nations (ASEAN) member states and the capacity to export to China will be significantly enhanced."

"By signing the FTA, Sri Lanka will have a bigger market share in China, and China in Sri Lanka. That will help not only in bridging the trade gap but also in the overall development of the Sri Lankan economy," Wang has said

The proposed SLCFTA is considered as the biggest development since the famous Sino-Lanka Rubber-Rice Pact in 1952.

Sri Lanka's Central Bank in June 2011 approved the Chinese Renminbi (Yuan) as a designated currency allowing for international transactions through banks in Sri Lanka in order to facilitate growing economic activities between the two countries.

ColomboPage - Recent 10 Stories
Police say SAITM CEO shooting was staged
-- [3 hours ago]
Sri Lanka and Seychelles to cooperate on combating drug smuggling
-- [3 hours ago]
SriLankan Airlines takes delivery of its first A320neo
-- [4 hours ago]
Sri Lanka's Ceylon Tobacco Company Profit After Tax Rs. 12.56 billion in 2016
-- [6 hours ago]
Sri Lanka Central Bank's workshop on Sustainable Finance today
-- [6 hours ago]
Constitutional Council nominates Supreme Court judge Priyasath Dep as Sri Lanka's next Chief Justice
-- [7 hours ago]
Finance Minister says Government will accept full responsibility for bonds issued after January 2015
Five special police teams to probe deadly prison bus shooting
General Amnesty for Illegal Sri Lankan migrant workers in Lebanon
Sri Lankan-born doctor convicted of killing her husband granted parole

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.