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 FTA joint compatibility study finalized
Thu, Mar 20, 2014, 09:33 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 20, Colombo: Sri Lanka and China have completed a joint feasibility study for establishing a free trade agreement (FTA) between the two countries, the Finance Ministry said Thursday in a statement.

Secretary, Ministry of Finance and Planning Dr. P B Jayasundara and Assistant Minister of Commerce of China Mr. Wang Shouwen have jointly announced the finalization of the joint feasibility study on the proposed Sri Lanka - China Free Trade Agreement (SLCFTA) during their official meeting in Beijing on 11th March, the Ministry said.

The finalization of the Joint Feasibility Study opens the avenue for the discussions on the Free Trade Negotiations which is expected to be commenced soon.

During the state visit of President Mahinda Rajapaksa to China in May 2013, the two countries signed a Memorandum of Understanding (MOU) to establish a joint working group on trade to study the feasibility of the Sri Lanka - China FTA. Accordingly the Joint Feasibility Study on FTA commenced in August 2013.

Sri Lanka is targeting an economic growth of 7.5 percent for 2014 and finalizing an FTA with China as soon as possible will help Sri Lanka to achieve the targeted growth.

The trade between Sri Lanka and China has increased in the recent past, reaching US$ 3.6 billion in 2013 from US$ 1.1 billion in 2006. China has become one of the major development partners of Sri Lanka during the past, especially in the field of infrastructure projects.

Recalling the Rubber Rice Pact Sri Lanka and China signed in 1952, Dr. Jayasundara said the proposed FTA will bring substantial economic and trade benefits to both countries while strengthening the friendly relationship between the two countries.

He expressed the hope that the FTA will be implemented at an early date.

ColomboPage - Recent 10 Stories
Sri Lanka best place in South Asia for old people
-- [1 minutes ago]
US$ 70 million French aid to Sri Lanka for water supply system improvement and energy saving project
Sri Lankan President congratulates top winners of Grade Five Scholarship
Public Utilities Commission of Sri Lanka announces new electricity rates
Minister denies receiving resignation letter from Sri Lanka's High Commissioner to UK
Sri Lanka to mark World Children's Day tomorrow
Sri Lankan President orders the release of 76 Indian fishermen
Sri Lanka Customs arrests two with illegal gold stock
British diplomat in Sri Lanka describes surveillance on her during visit to East
Sri Lanka Navy arrests 16 fishermen poaching in Sri Lankan waters

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.