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
Sri Lanka inks first trade pact with China's Guangzhou
-- [2 hours ago]
Constitutional council meets for the first time
-- [3 hours ago]
Government made a great effort to establish democracy in last six months - Harsha
-- [3 hours ago]
Sri Lanka Muslim party meets with UNP officials on election
-- [4 hours ago]
US Embassy in Sri Lanka celebrates Independence Day
-- [5 hours ago]
Former LTTE cadre sentenced to 10 years for assassination attempt on President in 2006
-- [5 hours ago]
Trade unions, civil organizations in Sri Lanka protest former president Rajapaksa's nomination
-- [6 hours ago]
Sri Lanka Customs nabs local attempting to smuggle endangered tortoises
-- [6 hours ago]
Sri Lankan President gives nod for Rajapaksa to contest upcoming elections under UPFA ticket
-- [7 hours ago]
Sri Lankan fishermen alleged of attacking Indian fishermen, damaging nets
-- [7 hours ago]

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.